Market growth, causes, types of change and adapting to change

Market growth - The percentage growth of the overall market size

Formula for market growth

Market size this period/Market size last period -1 x 100

Causes of change

Internal causes - Change initiated by a business

Restructuring

Delayering

Expansion

External causes - Change from outside the business

Social trends

Economic conditions

Technological advances

Types of change

Incremental - These are the many small changes that business make day - to - day as management respond to opportunities and threats. They usually involve relatively little…