Alternative Strategies Leading to Organizational Growth - Essay Example

?Strategic Choice and Evaluation Paper Introduction Organizational growth relates to the size of the organization with respect to the number of members or employees it has. It is a slow process which takes into account everyday happenings at the workplace. A growth oriented workplace culture works on improving small occurrences so that overall growth is guaranteed. Growth relates to each and every employee at the workplace. The development in the quality of existing employees’ skills and the quantity of skilled workers leads to overall organizational growth. The most precious asset that a company may cherish is its employees and it needs to be seriously concerned with all issues that may dissatisfy, frustrate or depress them. Without happy employees, no strategy is going to work and no progress will be seen in the long run. This paper discusses what alternative my organization (Human-Care.org) must consider to realize growth and what strategy or combination of generic and grand strategies it must implement in order to improve its organizational growth. Alternative Strategies Leading to Organizational Growth Human-Care.org pursues its organizational growth, growth stages and the directions in which the company is going in a variety of ways. Yet, it is undergoing some troubles regarding guiding itself and its labor through periods of growth. It is having problems with maintaining control over resources and workforce. There are many recommendations and alternatives that it needs to consider to chase the course of its growth at every stage. Some of these strategies are discussed below: 1. New Markets and Target Consumers One alternative that I would recommend to the company so that it increases its cash flow to help grow the organization is hitting new markets or targeting new consumers in addition to the existing ones. Although this would demand some efforts in the beginning but will prove to be very fruitful in the long run when cash will start flowing in, increasing the resources and employee satisfaction. The organization should look for such markets to hit where there are no competitors in the beginning so that when it strengthens its roots there, then the arrivals of new competitors or new entrants is no big threat. New markets and new target consumers will increase the cash flow which the company will spend on the growth and development of its employees. 2. New Services The organization should also try to offer new services to the consumers apart from simply recording and filing their complaints. When it will expand its offers to the clients, it will automatically attract more clientele and build its repertoire in the market and among the competitors. Implementation of new products and services is recognized as a significant way leading to organizational growth. 3. Looking for External Financial Resources We are focusing significantly on increasing the finances because we know that the organization will need funds to support its expansion in terms of employees and resources. A productive way to increase this funding is to look for external financial resources which may be in the form of monitory support from investors, partnerships, banks, and other government and private companies that may want to acquire the organization and fund it. This funding will help the company in designing and implementing such generic and grand strategies that ensure its growth. Growth Strategies for my Organization A strategy means a plan that guides an organization through a process or from one state to another. A growth strategy is the plan that the organization uses to broaden the scope of its business by expanding its consumer group. The objective of such a strategy is to improve the organizational growth while balancing the resources at the same time. Although there are many kinds of growth strategies that firms use like merger, joint venture, acquisition, and strategic alliance, I would recommend that Human-Care.org must use the joint venture and strategic alliance strategies to enhance its organizational growth. 1. Formation of Joint Venture Since the company has little resources, one good alternative can be to form a joint venture or alliance with other partners. This will enable it to protect its resources when they are most needed in situations like more demand and less supply. When a company forms a joint venture with another or a group of other companies, they work together for a completion of a certain task (Henry, 2008, p.235). This supports new or small firms a lot in many ways because all the companies share the revenue, expenses, and resources. Alliances enable all involved companies to freely move from one project to another with flexible restructuring of agreements and contracts so that they can move along together. Joint ventures let the companies explore new markets and new trends with new competitors. This makes them learn new strategies with which they can help themselves grow to come up to the expectations of other partners. Organizations can also make alliances with overseas companies and this gives them great opportunities to expand their growth in the international marketplace. I recommend my organization to form a joint venture with one other company in the start in the same country and in the same industry. This will enable it to secure its resources in conditions that show changes in demand and supply. This way, the company will not only get more stable but also will be able to pursue its growth in different phases with proper check and balance system. 2. Strategic Alliance It is the affiliation with such a company or group of companies that can help your organization to benefit through sharing of resources. Joint ventures focus on the change in control and equity investment but the main focus of strategic alliance is the sharing of resources. When resources are shared, the company has enough funds to ponder over its growth and satisfaction of employees. I recommend that Human-Care.org develops non-competitive alliance with another firm in the industry which has the same objective or function but is working in a different location. This way, the resources will get shared and both the companies will also not be disturbing each others’ clientele. Intense interaction will also not be possible because they will be working in different localities thus not making rivals of each other. This is different from competitive alliance in which intense interaction is necessary between the rival firms working in cooperative environment. I believe that competitive alliance is not very beneficial because of professional jealousy between the employees of each organization; hence, I recommend that Human-Care.org develops non-competitive alliance with another company in a different city. Another advantage of such an alliance is that risks and expenses, as well as knowledge and expertise, are all shared. The homework that the organization will need to do is that it will have to prepare itself for entering into partnership and will have to trust its partner while abiding by its commitments and agreements. Conclusion Although Human-Care.org has been designing and implementing such strategies that keep a constant check on its growth, and works efficiently to satisfy its employees by reducing stress at workplace so that growth is guaranteed, yet there are many discrepancies in its strategies that, I believe, should be removed and replaced by better generic strategies so that it brings out its best in short time and survives with integrity in the competitive market. I have suggested that the company should enter into a joint venture with at least one other company, or should make non-competitive strategic alliance with another company working in the same industry but in different location. This way, the resources will get shared and the company will receive extra funding to pursue and enhance its organizational growth. References Henry, A. (2008). Understanding Strategic Management. USA: Oxford University Press. Read More