Strategy for Business Development and Growth

This report discusses the importance of strategy in business development and growth. It explores different corporate and business strategies using Ansoff matrix and Bowman clock model. The report evaluates the suitability, acceptability, and feasibility of the strategies and provides recommendations for implementing them. The focus is on Genesys Biolabs, a company planning to expand its business in Jordan.

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.

2.2 Market development:
In this aspect, the company tries to expand the market segment into targeting the new market.
Through this manner they are mainly focusing on new customer and also promoting their
products or services using the same exiting offer techniques. Genesys Biolabs can promote their
'One test' kit in Jordan regarding targeting the new customer regarding saving their lives through
the diseases of lung cancer (Gurcaylilar-Yenidogan and Aksoy, 2018).
2.3 Product development
In this stage, company mainly tries to innovate the new products or services as comparing
to the existing products. So, that they can target the customer through launching the innovation
in the existing products. Development can be done in respect of using more useful testing or also
bringing chances in their existing promotional techniques. By this manner, they able to build the
strong connectivity with them. In case of Genesys Biolabs, they can develop the exiting products
promotion through launching the products in such manner by providing better results within the
less time period (Desai, 2019).
2.4 Diversification
In this, the diversification is undertaken regarding shifting the field and products into
some new segment. This considered to be the riskiest segment as the integrity of the company is
shifted to some new segment and thus they had to implement new strategies to target new
customer through their new products to services. In the context of Genesys Biolabs, they mainly
deal in resolving the issues of the cancer diseases and now they are planning to shift their interest
into new field or also targeting the new market for enhancing the business for longer time period.
2.5 Choice of strategy
Thus, by studying the Ansoff's theory, it is stated that market development is one of the
most appropriate theory which is to be adapted by the Genesys Biolabs in respect of targeting the
new market. As the diseases of cancer is suffered by most of the people and thus in respect of
targeting the different market results in gaining longer term gain. As the main reason of its
success is that this kit is clinically approved by the medical specialist person and thus it results in
saving the lives of the person in better way. Thus, by targeting new market resulting in gaining
long terms advantages to the business and also attract new customer towards the company
(Schawel and Billing, 2018).

3. BUSINESS STRATEGY
Business strategy refers to the competitive move which is adapted by the business in
respect of attracting the customer and also strengthening its performances through providing the
quality services. Porter generic strategy helps the companies to examine the competitive
advantages which they gained regarding choosing the suitable market scope. It carries three types
such as Cost, Differentiation, Focus. But by choosing the Bowman strategic clock theory, this
theory help company in analysing it positions by viewing its competitor’s theory (Echchakoui,
2018). It mainly carries
the eight types such as:
(Source: Bhasin, H., 2019)1) Low price/ Low value added: In this company mainly prefer to sell the products with low
pricing but by conducting this activity it results in getting less valued products.2) Low price: This is mainly preferable through increasing the sales of the products
regarding charging less prices on the particular products.3) Hybrid: It carries the mixture of two things regarding selling the products at low pricing
and also providing quality products to the customers. Through this manner, customer
loyalty is build regarding providing the expected products which they are demanding.

4) Differentiation: For this, differentiation is to be undertaken regarding differentiating the
products from the other products.5) Focused differentiation: Focused is to be ascertained regarding providing the high valued
products of the demand of the customer regarding availing such products is high.6) Risky carries high margin: As to earn more profits, company increases the prices of the
products. This is successful, if the customer are attached to such product, or they are
expected to get high pricing of such particular products. But this is risk to retain the
interest of customer for longer way.7) Monopoly pricing: If the company had set some monopoly in the market, then customer
had no option to choose their products. They had to pay the prices which is set by the
company.
8) Loss of market share: It is necessary to maintain the market share through providing the
value added products to the customer at reasonable pricing. Thus, the focus which the
company carry is to sell the price which is nominal (Chen, Eshleman and Soileau, 2017).
By comparing the Bowman clock theory with the porter generic theory, it is stated that
Genesys Biolabs apply the hybrid strategy in which they allow the company to enter into the
Jordan by opening the branch of the health care and also enjoy the multiple competitive
advantages in the business. The advantages can be in terms of providing the high valued products
to the customer to resolve from the diseases of lung cancer or such products which differentiate
the other products in the market. Thus, by choosing the hybrid strategy resulting in gaining
addition market benefits which is pertaining in market to sustain for longer time period
(Bıçakcıoğlu, Theoharakis and Tanyeri, 2019).
4. EVALUATION OF STRATEGY
Just making the strategy is not enough rather it is very necessary for Genesys Biolabs to
analyse and evaluate the strategy. This is necessary because the competition within the market is
very high and to manage this competition it is very necessary for the company to use effective
strategies. Also, the business exists in the environment which is very dynamic and frequently
changing. Thus, for managing all these changes and its impact and the competition it is very
necessary for the company to properly evaluate all the strategies which are being used by the
company. Thus, for the evaluation of the corporate strategy of market development and the

business strategy of using the hybrid strategy SAF model is being used. This is a model which
critically evaluates the business strategy on basis of suitability, acceptability and feasibility.
4.1 Suitability
Both the strategy is suitable for Genesys Biolabs because both the strategy is in
accordance with the objective of business that is expanding in Jordan. This is suitable because
for entering into new market the major thing is market development thus, with help of Ansoff
matrix the market development strategy is being selected. On the other side with respect to
Bowman clock model the hybrid strategy is opted by Genesys Biolabs. This is majorly suitable
because of the reason that this involve some element of low price and some of product
differentiation.
4.2 Acceptability-
Both the strategy is acceptable by all the stakeholder of Genesys Biolabs because of the
reason that both the strategy is very helpful in improving the productivity of the company and
expanding in much better terms. This is majorly accepted strategy because of the reason that with
help of Porter five forces it is evident that the threat of new entrant is low and thus, the company
can enter into the new market without much efforts and hard work. Also, the bargaining power of
suppliers is high within the industry and this illustrates that the company can have supply at very
low prices. Thus, this will be helpful for the company in getting raw material at low price ( Sia,
Soh and Weill, 2016).
4.3 Feasibility
This is a criterion which assess the fact that whether there are enough resources available
for the implementation of the new strategy or not. This is majorly because of the reason that if
the proper resources and facilities are not available for the implementation of the strategy then
the strategy will not be implemented in the intended manner. Hence, before thinking of any of
the strategy it is very necessary for the company to first analyse the fact that all the various type
of resources is being available for the implementation of the strategy (Gattorna, 2017). Thus, for
both the strategy that is market development and hybrid strategy the resources are available by
the company. Also, if there are some resources which are not enough or which are not accessible
by the company then they have proper money to buy or use such resources.
Recommendations

For the implementation of the strategy it is very necessary for Genesys Biolabs to use
appropriate strategy for the growth and development of business in this highly competitive
world. Thus, in the present case the company is planning to expand its business operation in
Jordan and for this they have opted for two different strategy that is market development
referring to Ansoff matrix and hybrid strategy in reference to Bowman clock model. In
accordance with the objective of the business that is expanding in the new market the major
strategy is market development. This is majorly because of the reason that for entering into new
market the most important thing is the market in the new country. Thus, before entering the
major strategy must be develop the new market as if there will not be any market then where the
company will sell its product and services.
Similarly, if the company will charge high price and the equivalent value of the product
and service is low then the consumer will not like the product. Thus, for managing this issue the
company opted for the hybrid strategy. Thus, this strategy is helpful for Genesys Biolabs because
of the reason that this will make a balance between the cost of the product and the perceived
value of the product. Thus, this will help the company in gaining market share by balancing the
cost and the attached value of the product and service with that cost.
Thus, it is recommended to Genesys Biolabs to along with market development must
focus on the market penetration. This is majorly because of the reason that market penetration
will help the company in penetrating within the market and to cover the whole market of Jordan.
Thus, another recommendation for Genesys Biolab in accordance with the Bowman Clock model
is to use the monopoly pricing. This is majorly because of the reason that this strategy will help
the company in establishing monopoly within the market (Johnson, 2016). This monopoly will
assist the company in effectively gaining high market share as high market share will only help
the company in gaining monopoly. Also, if the consumer will like the product and services of the
company to a great extent and the product have some competitive advantage over other then only
the company will enjoy monopoly within the market (Sukma, Lubis and Utami, 2019).
5. CONCLUSION
In the end it is inferred that making strategy for the business is very necessary for its
success and profitability. The present report focussed on developing the strategy for the
development and growth of the business. Thus, this strategy was being developed with the help
of the two models that is Ansoff matrix and Bowman clock model. Both these models help the

making effective strategy which will result in the development and growth of the business. Thus,
for the development of business of Genesys Biolabs the strategy was used of market
development and hybrid. After the evaluation of both strategy with help of SAF model that is
suitability, acceptability and feasibility both the strategies were good. In the end two more
strategies was recommended that was market penetration and pricing monopoly.

REFERENCES
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