What is Growth Strategy - Definition and Types?

[vishakha-vartak]

A growth strategy is one under which management plans to advance further and achieve growth of the enterprise. It might be described as a safest policy of growth- maximising gains and minimising risk
Types-
1.Internal growth strategies- Firm plans to grow on its own, without the support of others
2.External growth strategies- Firm’s growth plan involve relying on external forces like combining with others