ABSTRACT
This chapter describes that the markets are dynamic and constantly changing. Thus industries are constantly changing with new players entering the market and old ones exiting. Under these conditions there are many opportunities for growth. Managers need to constantly monitor markets and develop and alter strategies as markets change. An evaluation of each competitor's core competencies, target markets, marketing strategies, and key resources and skills are necessary. It is also important to anticipate its strategies. This will enable the organization to develop growth strategies of its own that will enable it to stay ahead of the competition. According to M. Treacy and J. Sims, there are five sources of growth in the organization. The first is continuing sales to established customers; the second, sales gained from the competition; third, sales in an expanding market; fourth, moves into adjacent markets where core capabilities can be leveraged; and fifth, new lines of business unrelated to the core.
