When we think of the future, we hope a future of progress. The progress that can take one of two forms. Horizontal or extensive progress means copying things that work from lower to higher. Horizontal progress is easy to imagine because we already know what it looks like. Vertical or intensive progress means doing new things, that is; going from nothing to something (0 to 1). Vertical progress is harder to imagine because it requires doing something nobody else has ever done. If you take a huge amount of money (Capital) and build it 100 times, you have made horizontal progress. If you take a minimal amount of money (micro saving) and lead it to produce capital, you have made vertical progress.
At the micro lever, the single word for horizontal progress is ‘globalization’ taking things that work somewhere and making them work everywhere. China is todays world is the good example of globalization;
Growth in its generality can be described in so many ways to mean the situation, state or process of moving from one lower standard of experience to a better version of it, that is the higher stand of experience. It is an essential of life that people and company wish and want to grow. As growth carter in so many aspects, the growth introduced here is that Economic growth, a growth of quality and effectiveness, a growth that affects the results and the momentum of the world itself. Economic growth only comes from increasing quality and quantity of the factors of production, which consist of four broad types: land, labour, capital, and entrepreneurship.
In the recent years the world has witnessed a massive global change in the economic arena, some of the biggest financial companies stack and younger financial institutions taking over the economic market. Small loan lenders happen to take over the global financial market almost in every country especially in many of the developing and the least developed countries. The reason behind is because they serve a huge number of customers across the world many whose economic status is medium. Hence, they are at a position to create simple profits from a huge number of people and eventually it becomes a huge profit as well. This adjustment in the financial market overwhelms these institutions and put a burden bigger to the institutions to assure the best qualitative services to their customers who happen to increase day by day.
Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. Business development is the creation of long-term value for an organization from customers, markets, and relationships. Business development can be taken to mean any activity by either a small or large organization, non-profit or for-profit enterprise which serves the purpose of ‘developing’ the business in some way. In addition, business development activities can be done internally or externally by a business development consultant. External business development can be facilitated through Planning Systems, which are put in place by governments to help small businesses. In addition, reputation building has also proven to help facilitate business development.
Possibly the greatest competitive advantage of business growth is the ability to capitalise on the economies of scale. As you increase your production output, you can bring down costs per unit and achieve savings across: purchasing - by getting discounts for buying in bulk.