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Why is growth am important objective in a competitive market?

I am stuck on this question for my Business AS homework.

The question is...

"Analyse the reason why growth is an important objective for a newly established estate agency in a competitive market."

I really am stuck, and any help will be greatly appreciated.

Thanks! :smile:

no idea

Original post by username1373182

Growth is a crucial objective in a competitive environment because it is the main strategy that the business can use to gain competitive advantage over its rivals. When we talk of business growth, we mean expansion of the goods and services (products), acquisition of new customers, use of advanced methods of production, acquisition of competent employees, increased sales and profits. Therefore, when a business organization attains growth, it stands at a better position to beat its rivals because it has enough resources and capabilities to do so.