Stages of growth theory

The Stages of Growth theory describes how organizations develop over time through predictable phases. Initially, a company might focus on creating products and gaining customers. As it grows, it shifts towards managing operations efficiently and establishing formal structures. Later stages involve expanding into new markets, diversifying products, and refining strategies for sustained success. Each stage requires different leadership approaches and resources, and understanding these phases helps organizations plan better and overcome challenges associated with growth. Essentially, it's a roadmap showing how a business transitions from startup to mature enterprise.