This study focuses on the importance of growth models, growth strategies, role of knowledge management system in the formulation of effective strategy for the enterprises following growth. Choice of an appropriate growth strategy is at the heart of any successful entrepreneurial venture. Selection of a strategy may be effective for one entrepreneur while it is not for other. Choice of Growth Strategy depends on various different factors, organisational context and environment which may vary from enterprise to enterprise. Resource based view is very important consideration for the entrepreneurs on the path of growth. Evaluation of all kind of resources helps them to grow their enterprises successfully. Selection of an appropriate growth strategy allows the entrepreneurs in overcoming growth challenges and avoiding the growth reversals and setbacks.