1BUSINESS STRATEGIES.A young business needs special nurturing and care for it to expand and grow. For a company toflourish marketing and delivering strategies must be planned well. A business strategy is theaction plan put in place to achieve specific goals or objectives. The method may be short term orlong term. Policies are meant to enhance the performance of the business. A strategic planprovides an entrepreneur with a map to get to the future of his industry. Managers of everycompany should plan their strategies according to their strengths and weaknesses. this essayfocusses on the different approaches available for the firm to contribute to the horizontal growthand their benefits and the problems they cause.Strategies available.The firm should seek the protection of a market niche. This is because the firm is still small andis competing against giant firms that have been in the market for a period. The rent to ownbusiness is a concentrated one since many firms provide the service. Since the firm lacks cout,this strategy will help protect it from the big firms that already have developed themselves.According to (Arnold C., 1986), firms should take advantage of this niche to compete with thelarger firms to grow horizontally.Since the business is growing, the managers should consider outsourcing to increase productionat a lower cost. Outsourcing a part of the production contributes significantly to the value of thefirm in question More people should be h ...
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