Strategies for Growth and Managing the Implications of Growth Chapter 14.
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Strategies for Growth Strategies for Growth and Managing the and Managing the Implications of Growth Implications of Growth Chapter 14 Chapter 14
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Transcript of Strategies for Growth and Managing the Implications of Growth Chapter 14.
Strategies for Growth and Strategies for Growth and Managing the Implications of Managing the Implications of
GrowthGrowth
Chapter 14Chapter 14
Growth StrategiesGrowth Strategies
PenetrationPenetration Product Product DevelopmentDevelopment
Market Market DevelopmentDevelopment New Geographic New Geographic MarketMarket
New Demographic New Demographic MarketMarket
New Product UseNew Product Use
DiversificationDiversification Backward IntegrationBackward Integration
Forward IntegrationForward Integration
Horizontal IntegrationHorizontal Integration
PRODUCT
Existing New
Existing
MARKET
New
GrowthGrowth
Why important?Why important? AdvantagesAdvantages ProblemsProblems
Pressure on existing financial resourcesPressure on existing financial resources Pressure on human resourcesPressure on human resources Pressure on Management of employeesPressure on Management of employees Pressure on entrepreneur’s timePressure on entrepreneur’s time
Overcoming Financial Overcoming Financial PressuresPressures
Three MethodsThree Methods Financial controlFinancial control Managing inventoryManaging inventory Keep good recordsKeep good records
Overcoming Financial Overcoming Financial PressuresPressures
Watch the Financial StatementsWatch the Financial Statements Look at expected v. actualLook at expected v. actual Sensitivity analysisSensitivity analysis
Overcoming Financial Overcoming Financial PressuresPressures
Managing InventoryManaging Inventory FIFO v. LIFOFIFO v. LIFO Why use LIFO?Why use LIFO? Managing Fixed AssetsManaging Fixed Assets
Why lease?Why lease? Managing Costs and ProfitsManaging Costs and Profits
What caused increases and decreases?What caused increases and decreases? PercentagesPercentages
Overcoming Financial Overcoming Financial PressuresPressures
TaxesTaxes WithholdingWithholding
Federal Federal StateState Social SecuritySocial Security MedicareMedicare
Record-KeepingRecord-Keeping SoftwareSoftware ImportanceImportance
Overcoming Pressures on Overcoming Pressures on Existing Human ResourcesExisting Human Resources
Initial Company HRInitial Company HR Permanent v. Part-time EmployeesPermanent v. Part-time Employees
Which is better?Which is better? FiringFiring
ProcessesProcesses CultureCulture
Affected by human resourcesAffected by human resources
Overcoming Pressures on Overcoming Pressures on Management of EmployeesManagement of Employees
Participative Management StyleParticipative Management Style AdvantagesAdvantages
Establish a Team SpiritEstablish a Team Spirit Communicate with EmployeesCommunicate with Employees Provide FeedbackProvide Feedback Delegate ResponsibilityDelegate Responsibility Provide Continuous TrainingProvide Continuous Training
Time ManagementTime Management
Why study it?Why study it? Increased productivityIncreased productivity Increased job satisfactionIncreased job satisfaction Improved interpersonal relationshipsImproved interpersonal relationships Reduced time anxiety and tensionReduced time anxiety and tension Better healthBetter health
Principles of Time Principles of Time ManagementManagement
Principle of DesirePrinciple of Desire Recognize the problem and need to Recognize the problem and need to
changechange Principle of EffectivenessPrinciple of Effectiveness
Focus on important itemsFocus on important items Principle of AnalysisPrinciple of Analysis
Look at where time is allotted Look at where time is allotted inefficientlyinefficiently
Principles of Time Principles of Time ManagementManagement
Principle of TeamworkPrinciple of Teamwork Only small amount is under your controlOnly small amount is under your control
Principle of Prioritized PlanningPrinciple of Prioritized Planning Categorize by level of importanceCategorize by level of importance
Principle of ReanalysisPrinciple of Reanalysis Review one’s time management processReview one’s time management process
Entrepreneurs and Firm Entrepreneurs and Firm GrowthGrowth
Unused PotentialUnused Potential Actual GrowthActual Growth
Little Potential Little Potential ConstrainedConstrained
ENTREPRENEUR’S GROWTH ASPIRATIONS
No YesHigh
ABILITY
Low
