Impact of Growth Strategies on Business Profit A Study of Ashakacem Plc, Gombe-Nigeria
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 2
Abstract
Growth is important and key to the survival of any business venture. Competition in a highly regulated and in depressed economy like Nigeria requires that businesses devise means that are capable of increasing its relative market share and profits. Formulating and implementing effective growth strategies to enhance business profit is the concern of any dynamic looking organization. This is the main problem the paper wishes to address. Therefore, the objective of this paper is to review growth strategies with a view to ascertaining whether they could contribute to organizational profit. Secondary source of data was relied upon for the review, methodology and findings. Based on secondary sources of data, the paper found that growth strategies like market penetration, market expansion and development, product expansion and development, diversification and karma influence business profit. The study recommends that Ashakacem Plc should continue to formulate planned growth strategies that enhance investment and economic development. The study also contributes to knowledge to the understanding that growth strategies enhance profit in Cement Manufacturing Companies in Nigeria.
Authors and Affiliations
S. I. Dugguh PhD, Aki Isaac, Isaac Sunday Oke
Keywords
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- EP ID EP409858
- DOI 10.9790/487X-2002092329.
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