Growth Decision Template and Growth Risk Audit Essay
Growth Decision Template and Growth Risk Audit Essay
Identifying and leveraging opportunities in the business environment is essential to business growth. According to Treacy (2013), businesses need to build a growth portfolio that includes a series of growth initiatives that can be considered to improve performance in revenue sources. Therefore, the growth decisions template and growth risk audit are vital tools in business decision-making. The main difference between a growth decisions template and a growth risk audit is that the growth decisions template outlines the decisions that the business should make to increase revenue, whereas the growth risk audit outlines and documents the effectiveness of how a business responds to the risk taken to achieve growth, their causes and the effectiveness of the strategies used to manage the risk. The growth decisions template also focuses on the decisions that have not yet been implemented. In contrast, the growth risk audit focuses on decisions that have already been implemented.
The growth decisions template helps business owners make growth decisions by providing a guide on the decisions that should be taken to achieve growth. The growth decision template also helps business owners determine the appropriate time to make a specific decision. According to Bet-David (2019), timing plays a vital role in decision-making because it influences the effectiveness of the decision in meeting a particular objective. Therefore, business owners can use the growth decisions template to determine how to prioritize growth decisions. The growth risk audit helps business owners improve risk mitigation and prevention strategies to achieve growth. According to Dvorsky et al. (2020), expansion and growth go together with risk, thus creating a need for business owners to have a proper risk management strategy to convert risks into growth opportunities. Therefore, business owners can use the growth audit risks to determine the risks that can increase the business’ growth. Hire our assignment writing services in case your assignment is devastating you.
References
Bet-David, P. (2019). Think like a grand master entrepreneur- 2019-driven keynote [Video]. YouTube. https://youtu.be/jKQ7uOd0U_M
Dvorsky, J., Belas, J., Gavurova, B., & Brabenec, T. (2020). Business risk management in the context of small and medium-sized enterprises. Economic Research-Ekonomska Istraživanja, 34(1), 1690-1708. https://doi.org/10.1080/1331677x.2020.1844588
Treacy, M. T. (2012, March 28). Michael Treacy: Business growth & innovation strategist, best-selling author, keynote speaker [Video]. YouTube. https://youtu.be/
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Question 
Unit 1 DB: Growth Decision Template vs Growth Risk AuditUnit 1 DB: Growth Decision Template vs Growth Risk Audit
Growth Decision Template and Growth Risk Audit Essay
Compare and contrast the Growth Decisions Template and the Growth Risk Audit. How do these tools help business owners make growth decisions?
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