new markets and distribution channels. This stage is often the choice of
the business owner to gain a larger market share and find new revenue
and profit channels.
Challenges: Adding new products or services to existing markets or
expanding existing business into new markets and customer types requires
the right people in the right roles with the right training. Business leaders
must manage organizational competencies to achieve the strategic plan.
This requires a review of the organizational structure, people resources
throughout the organization, as well as a list of the key skills and
capabilities required for success. Succession planning and leadership
development are key focus areas to future success.
Solutions: Our HR Assessment can help your business work through
this stage with sound recommendations on Succession Planning and
Leadership Development as well as organizational competency
management.
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