How to develop an expansion strategy in your business

Stagnation is never positive in a company, and one of its objectives must be the opposite, grow and add to improve its results and not be left behind. Maritime exports of goods can be one of the means of growth. However, it is not good to export your products if you do not have a strategy previously prepared with which you can ensure as much as possible of the success of the operation. “In an expansion strategy we can not avoid the risks. What we can do is minimize them to ensure success. “In this sense, developing an expansion strategy is essential to grow your business with guarantees assuming the minimum possible risks (we can never grow without assuming some type of risk). If you are determined to grow your business pay attention.
Ansof Matrix: 4 Strategies for Expanding Your Business
Igos Ansoff, Russian consultant and mathematician, defined in 1957 the 4 ways of growth that a company has to develop its expansion plan. The well-known Ansoff matrix, or Product / Market Matrix, has been accepted internationally as a basic rule for the growth and expansion of a company.As we say, this matrix establishes 4 expansion strategies:Market penetration: this strategy tries to grow in the current markets with the current products. This is important for marketing and advertising, making products more visible and generating a greater need in consumers.Product development: refers to offering new products in the current markets in which the company works, attending to new needs that may have the current customers, for example.Market development: is to offer the current products in new markets, increasing the public and therefore potential customers. You can choose to approach new audiences or geographical expansion.Diversification: try to change products and markets. While the previous ones worked on both or some of these factors, with the diversification a new line of products in a new market is offered. This is the most risky expansion strategy.To develop the plan to expand your business you will have to choose what strategy you are going to follow and from here work to carry it out, taking into account what new services, supports and supports you will need in this whole process.

The shift to technology-driven business strategies is happening

For years, CIOs have talked about aligning technology with business strategies. Now, business strategies follow IT trends.Are IT organizations driving business strategies? The CIO of a global insurance company, speaking at a recent CIO event in Chicago, hosted by Global Business Events, seems to think so.Traditionally, CIOs were assigned an allocation for the business, he said. They were told, “Here is the product I want,” and asked, “How are you going to build it, when can you build it, and how much will it cost?””What I’m seeing now is a technology-driven business strategy versus a business-driven technology strategy,” said CIO, who did not want his name to be used because the event was closed to the public. He said that more and more companies are counting on IT organizations to tell them how technology is changing business models and what the business has to do to keep up. “We’re saying ‘this is what’s happening with technology, so here’s how we have to change the business.'”This paradigm shift is underway in several Fortune 500 and Fortune 100 companies presented at the event in Chicago. Here’s a summary of what this CIO from a multi-million dollar insurance company believes are the five drivers behind this shift in technology-based business strategies and what he’s doing to take advantage of them.The three to five year business plan is dead. The rate of technology change has accelerated so much that companies now have to reconsider their business plans on an annual basis at least, and maybe even every six months. He highlighted five technology areas behind the paradigm shift toward technology-based business strategies.Big data for predictive sales, customer engagement based on context and a more accurate indicator of consumer demand.