Open AccessPosted Content
The Five Stages of Small Business Growth
C Neil,Churchill Lewis,Virginia +2 more
Reads0
Chats0
TLDR
In this paper, a model relevant to small and growing businesses that delineates five stages of firm development is presented. And eight factors prominent in determining firm success or failure are identified, including financial, personnel, systems and business resources.Abstract:
Develops a model relevant to small and growing businesses that delineates five stages of firm development. These stages are: (1) existence--concerned with garnering customers and delivering the product or service contracted for; (2) survival--firms have demonstrated that they are workable business entities, but the key question becomes whether there is enough money for the firm to break even and stay in business; (3) success--here the decision facing owners is whether to exploit the company's accomplishments and expand or keep the company stable and profitable, providing a base for alternative owner activities; (4) take-off--concerned with how to make the firm grow rapidly and how to finance this growth; and (5) resource maturity--companies have the advantages of size, financial resources, and managerial talent and will be a formidable force in the market if they retain their entrepreneurial spirit. Each stage is characterized by an index of size, diversity, and complexity and described by five management factors: managerial style, organizational structure, extent of formal systems, major strategic goals, and the owner's involvement in the business. In addition, this research identifies eight factors prominent in determining firm success or failure. They include: financial, personnel, systems and business resources and the owner's goals for him/herself, operational abilities in doing important jobs, managerial ability and willingness to delegate, and strategic ability for looking to the future. Knowing which development stage the firm is in will help managers, consultants, and investors make more informed choices and prepare the company for later challenges. (SFL)read more
Citations
More filters
Journal ArticleDOI
Linking managerial competence to small enterprise performance within the dynamic capability logic
Robert Zacca,Mumin Dayan +1 more
TL;DR: In this paper, the authors use structural equation modeling to test a theoretical model based on a data set from two survey instruments: one instrument was administered to the owners of 125 small enterprises within the United Arab Emirates within the same enterprises and the second one was administered by managers within those same enterprises.
Sources of competitive advantage for emerging fast growth small-to-medium enterprises : the role of business orientation, marketing capabilities, customer value, and firm performance
TL;DR: In this paper, the influence of market, learning, and entrepreneurial orientation as sources of competitive advantage in fast-growth SMEs is examined, and it is taken that these three factors synergistically comprise an organization's business orientation, enhancin
Dissertation
Factors determining perceived job performance of University leaders in Pakistan
TL;DR: In this paper, the mediating effect of entrepreneurial leadership through which university leaders can improve their job performance has been analyzed and validated for a theoretical framework to trigger the future research and theory on edifying university leadership and to comprehend how such leadership develop and has significance for effective job performance.
Dissertation
Present at the completion : creating legacies at the International Criminal Tribunals
TL;DR: In this paper, the authors examine the institutional creation of legacies at the International Criminal Tribunals for the former Yugoslavia (ICTY), the Special Court for Sierra Leone (SCSL), and the Extraordinary Chambers in the Courts of Cambodia (ECCC).
References
More filters
Book
The stages of economic growth
TL;DR: The Stages of Economic Growth as mentioned in this paper is a seminal work in the theory of economic growth, and it has been extended to include economic and political developments as well as the advances in theory concerning nonlinear and chaotic phenomena.
Journal ArticleDOI
Critical stages of small business growth
TL;DR: In this paper, the authors identify the problems encountered at each stage of a small business's growth process and propose a solution to solve them in order to ensure the progress of the small business from autocrat to professional manager.