Chapter 13- Growth Strategies for entrepreneurial ventures
Key factors of growth stage
1. control 2. responsibility 3. tolerance or failure 4. change
emerging market
big venture needs formal planning due to complexity. higher degree of uncertainty needs better planning.
Life cycle stages
development, startup, growth, stabilization and innovation or decline
Lack of strategic planning
1. time scarcity 2. lack of knowledge 3. lack of expertise/skills 4. lack of trust and openness 5. perception of high cost
Growth
managing growth of the new venture.
strategy planning
long-range plans for effective management of environmental opportunities and threats in light of a ventures strengths and weaknesses. determines the future direction of the business
Strategy matrix model
measures the risk and innovation. innovation on vertical axis, risk on horizontal axis
swot analysis
strategies, weaknesses, opportunities, threats