Analyzing the different growth strategies available to different entrepreneurial businesses will help entrepreneurial businesses do so. I will explore the different ideas and means available. Show my understanding of the external and internal effects they will have on each business, not only in terms of growth but also on its goals and objectives as a whole. I will be sure to compare the pros and cons of each strategy and highlight the importance of why they should be carefully chosen for each individual business. Making sure to identify and analyze the four main growth strategies, namely: product development, diversification. Market development and market penetration. All fall under the Ansoff Matrix, a theory that helps identify growth opportunities. Source: http://www.tutor2u.net/business/strategy/ansoff_matrix.htmThis topic is essential because it will enable entrepreneurs to achieve and maintain growth. , not only that, but effectively. One of the most important reasons for a business strategy is that it helps organize a business and overcome some of the first hurdles that any business will have to overcome, such as the fact that 50% of businesses close within four years. (CITE) Growth strategies are extremely important for entrepreneurial businesses as growth and are essential to the longevity of any business, especially new and smaller businesses, because if they do not grow, they will eventually decline and fail. It is also about using the business to improve customer benefits and create value. The main idea of ​​a business strategy is to achieve the company's goals and objectives. Some of them could be to increase market share, increase turnover,...... middle of paper ......ge market share like Taobao did. Show that this strategy is effective for a specific business and, in this case, not for eBay. Product development is another part of the Ansoff matrix. Product development is a strategy to improve the benefits you provide to customers by improving your existing products and services or developing new ones. The new product development process is a model that entrepreneurs use to help themselves simplify product development and create easier scale for them. follow.Source: http://www.innovationreactor.com/innovation_reactor/2008/12/the-new-product-development-process-part-3.htmlProduct development is good to use for businesses because there is no has only a moderate risk, this is because the product is already known to be popular, but not in the city or country the entrepreneur is trying to enter..