Exploring new markets. If your current market is thriving, you may want to consider exploring new opportunities. Start exploring different regions, taking advantage of your brand recognition.
Alliance building. For small businesses new to the market, partnering with other companies can be an effective tool for accelerated growth. This will provide instant access to new customers. In addition to additional sales, partnerships help to attract financing and modernize production technologies.
Mergers and acquisitions. These transactions transfer ownership of companies or their operating units to another organization. From a strategic management perspective, these processes allow enterprises to expand or optimize part of their business, changing its nature and market position.