Internal growth strategies
ID:CVIGS

Video Overview

Internal growth expands sales of existing products. The aim of internal growth is to retain existing consumers by providing them with improved products and services, while seeking new consumers. This organic growth (or growth from within) takes the form of market penetration, market development, product development, or a combination thereof. Often the strategies overlap. Organic growth helps the organisation to exploit core competencies, experience and knowledge, and to use its facilities more intensively. By using familiar resources and strategies, the organisation enjoys greater control than with an acquisition. On the other hand, growing an internal venture will likely take longer than acquiring a going concern. An organisation may opt to grow internally if it can find no appropriate outside opportunity.