Module 3: Ensuring alignment between the OI strategy and the company objectives

Adeel Tariq

In today’s dynamic environment, attaining growth and specifically, double-digit growth is an important objective of small and large organizations. Several organizations, specifically SMEs, fail to achieve double-digit growth or are unable to sustain it over a long period of time due to their non-systematic approach. An SME can achieve double-digit growth objectives following five-growth disciplines that range from base retention strategy to investing in new lines of business. This module will provide managers of SMEs with knowledge about growth strategies and how they can adopt a systematic approach to deal with them. Moreover, it will also explain to the readers the five strategies for double-digit growth. Furthermore, managers will learn about how they can use SWOT analysis with five growth strategies to effectively explore futuristic opportunities. Lastly, a step-by-step approach is introduced to managers to assist in ensuring the alignment between open innovation strategy and business objectives.

Upon completing this module, you should be able to:

• Describe what is the growth issues and how an SME can choose a path to achieve double-digit growth
• Demonstrate the five strategies that an organization can apply to foster double-digit growth along with open innovation
• Analyze the utilization of the strategic management tool SWOT analysis to spot futuristic opportunities.
• Apply a systematic approach to align the growth strategy with the agribusiness objectives