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The IUP Journal of Management Research:
Achieving Sustainable Business Growth in the Magical Way: A Study
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In this article, the author talks of the golden routes and strategies adopted by some of the successful companies of the world in order to achieve sustained business growth. It also discusses the cases of some companies which have failed to cope with the momentum. In all, it discussess the ways to become a winner in today's dynamic business scenario.

 
 
 

"Here today, gone tomorrow"-this has been the fate of many strategy buzzwords in the 21st century business world. Many strategic tools come as fads with the changing times and needs of different organizations and fizzle out, taking with them the companies that implemented them. Is there no way of knowing what kind of strategies or management practices could lead to sustained business success year after year? And, if there is a way to be a winner in a continuous manner, why is it that only a few names manage to feature in the winner's list and further sustain it? Is there something that the winners know and other organizations do not?

Dollar is a Fortune 500 retail giant Company, running over 5,000 stores all over the world. With an annual sale of $5 bn, this company opens two new branches on every business day. Dollar's success, according to the company's Chairman, is all about `doing more for the customers than anybody.' It is quite an unpretentitious and unfashionable retail chain with such an outstanding and remarkable success. Dollar has adopted the practices, implemented them in myriad ways and derived immense benefits in the bargain. The company maintains a clear focus on its target segment (low-income customers) and provides them with high quality goods at the lowest possible price.

It maintains a clear and intensive focus at its chosen market segment of low-income customers. The foremost strategic purpose of Dollar is to help its customers improve their standard of living by selling them high quality goods at the lowest possible prices available. The company never diverted from its core policy and the present situation proves that Convenience and Pricing were the two unique features of Dollar's strategic policy. By implementing the above policy effectively, it had a record of delivering consistently on its promise to provide quality goods at everyday low prices. Further, by maintaining these strategies flawlessly, Dollar is expecting to raise its profit margins significantly in future, even without increasing prices. The company's corporate culture was designed to support the highest possible levels of performance. It did not have any layers of bureaucracy hampering its functioning and always preferred to be lean, trim and responsive, irrespective of whatever came. After all, productivity is a by-product of operations that are easy to run, and bureaucracy kills this swift running of the business.

 
 
 

Management Research Journal, Strategic Tools, Management Practices, Performance-oriented Culture, Market Segments, Corporate Culture, Products and Services, Bureaucracy System, US-based Shoemaker Firm, Electronics and Telecommunications, Null Hypothesis, Market Liberalization, International Asset Pricing.