Economic approach: This method focuses on the economic methods like GDP, GNP and value of goods produced etc. This method basically tries to understand growth more from a quantitative standpoint.
Social network approach: This method tries to understand the interaction between individuals and organizations. This method tries to explore the various connections and complex structure of how people and society interact with organizations and create awareness about the products and growth cycles I the long run.
Managerial approach: This method tries to focuses on the growth through economic analysis and application of various econometric tools in a systematic and efficient way.
3. Greiner’s growth model is based on five stages. They are as follows:
a. Growth through creativity
b. Growth through direction
c. Growth through delegation
d. Growth through coordination
e. Growth through alliance
According to Greiner small firms need to follow these steps to promote growth in the long run.
4. Growth barriers can be overcome through strategic planning and proper allocation of resources and by efficient usage of economic tools and analysis which can make every organizations stay on the top of the world in spite of difficult situations in the business cycle.
Jones, Charles I; 2012 Introduction to Economic Growth, W.W. Norton and Co., Second Edition, New York
Romer, David; 2006 Advanced Macroeconomics: McGraw-Hill, New York