Diversification Growth Strategy

The article is written by Robert Emir and Karl Weinberg about the high growth firms and their strategic management. In accordance with the article, firms develop several strategies for growth and expansion in internal and external operations. The researcher explained that five key drivers of high growth are the strategy, human capital, human resources management, capabilities, and innovation. Organizations develop growth strategies relates to the supplies and distribution of products (Emir, Weinberg, & McKenzie, 2017). Diversification is the most engaging growth strategy developed by firms. Organizations sometimes pay more attention to the increase of product and service quality rather than lowering unit costs as a result of which organizations earn long term benefits and sustainable development. Particularly emphasizing on the growth factor and its possible outcomes researcher claimed that product diversification strategy should be replaced with a better growth strategy known as product refinement strategy as it will result in the improvement of customer experiences.