Strategy for Business Development and Growth

REPORT

Executive summary
The present report is based on the making and selecting of the strategy for the
development and growth of the business. The strategy making is very crucial for the success of
the business because this provides a roadmap to the employees that in which direction they have
to work. Also, the strategy must be selected with proper analysis of all the internal and external
forces and industry attractiveness. This is necessary because of the reason that these strategies
will help the company in making the product and services in accordance with the needs and
requirement of the consumers. thus, the current report discussed about the different corporate
strategy and business strategy with help of model of Ansoff matrix and Bowman clock model.
Both the model suggested that the best strategy to be used was market development and hybrid
strategy. But for the recommendation of the strategy the market penetration and monopoly
pricing were used.

TABLE OF CONTENTS
1. INTRODUCTION.......................................................................................................................4
2. CORPORATE STRATEGY........................................................................................................4
2.1 Market penetration:...............................................................................................................4
2.2 Market development:............................................................................................................5
2.3 Product development.............................................................................................................5
2.4 Diversification.......................................................................................................................5
2.5 Choice of strategy.................................................................................................................5
3. BUSINESS STRATEGY.............................................................................................................6
4. EVALUATION OF STRATEGY................................................................................................7
4.1 Suitability..............................................................................................................................8
4.2 Acceptability-........................................................................................................................8
4.3 Feasibility..............................................................................................................................8
5. CONCLUSION............................................................................................................................9
REFERENCES..............................................................................................................................11

1. INTRODUCTION
Business strategy is defined as the action plan which is being made in order to manage all
the activities of the business. This is majorly because of the reason that the strategy helps the
business in guiding the direction through which the employees can work within the business. The
present study is based on company Genesys Biolabs (Dawes, 2018). This is a company which
provide its consumer services to more than 2700 consumers in more than 80 countries and is
dedicated o find early detection of lung cancer. Currently it is developing a system of testing for
lung cancer which is named as One Test. It is used several times for testing the lung cancer in the
clinical labs all over the world. Presently the company is trying to open a new branch in Jordan
and for this all the environment analysis is already being done. The current report will outline the
selection of the best strategy for the starting of the business in new country. Thus, for this it is
very necessary for Genesys Biolabs to do proper market research before entering into the new
market. For this this the analysis of the corporate strategy and the business strategy will be done.
Also, in the end the analysis of the selected strategy will be done with help of SAF model. In the
end some of the recommendations will be made in order to improve the performance of the
company.
2. CORPORATE STRATEGY
Corporate strategy refers to the overall strategic planning which is carried by the
organization in respect of managing the company vision and mission to sustain in market for
longer way. The most relevant strategy which is adapted in context of examining the direction is
of Ansoff's matrix. In theory is mainly used in the stage of conducting the marketing planning
regarding promoting the products in different segments. There are four main direction which the
company can apply in respect of enhancing growth as market penetration, market development,
product development and diversification.
2.1 Market penetration:
In this segment, the market is penetrated through bringing innovative offers or scheme to
attract the interest of the existing customer in the exiting market (Yin, 2016). As they mainly
focus on enhancing the customer needs regarding expanding the business. In case of Genesys
Biolabs, they mainly promote their 'One Test' medical kit in the same market only and also
targeting the same customer through preferring such kit to save life.