Growth platforms are specific named initiatives selected by a business

Business

A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...

organization to fuel their revenue and earnings growth.

Growth platforms may be strategic or tactical. Strategic growth platforms are longer term initiatives where the initiative and results span multiple years -- usually from 3 to 6 years. Generic examples of commonly selected strategic growth platforms are pursuing specific, new product areas or entry into new distribution channels. Illustrative examples would be:

• Apple Computer's targeting of "personal music systems" to accelerate growth faster than it could with only its personal computer business.
• IBM's coining of the term "e-business" and then its use of as the organizing theme for all that the company did in the late 1990s.

Tactical growth platforms are shorter term initiatives where the initiative and the results are focused on the business's current budget year. Generic examples of commonly selected tactical growth platforms are specific new sales force programs or a new focus for the year's advertising.