The
philosophy of The 500 Group™ is based upon a fundamental law which is as
inescapable as the law of gravity. It applies whether you know about it
or whether you believe in it or not. That Law simply stated is
this: Growth and decay occur simultaneously.
That law forms the
reasoning and premise by which the Wharton School of Business teaches
"Zero growth is not a long term viable strategy". The founder of The 500 Group™,
himself a participant in the Wharton School Executive Program specializing in
New Business Development and author of
The Principals Principle™, adds to this: "...and growth without
quality growth is no growth at all."
The phrase “New
Business Development” is widely encompassing to say the least. Any commercial affairs
or ventures aimed at growth falls under this concept. In fact, it’s
better to get clear on what new business development is NOT first. Ideally the
maintenance aspects of running a business, such as operations and
accounting, are aiming for efficiency not growth. Though efficiency in
the maintenance of a business frees up the resources to allow for growth,
it cannot be considered New Business Development. That’s what it is
NOT,
now on to what it is.
The vast and
inter-related endeavors that fall under the "new business development"
umbrella can seem a little daunting at first. Click on the link
below, it'll take you to a page offering a very useful explanation and
graphs to help clarify the term and all it implies.
GAP
Analysis