Business Creation and Growth
Business creation and growth
Identify and discuss the four most important factors that need to be considered during the growth stage.
In order to be maximally precise writing about the four most important factors in the growth stage, the first thing I believe should be done is to describe accurately what exactly a growth stage is.
This is the second stage in the product life cycle, characterized by increasing sales, high profits, and market entry by competitors.” During this stage a successful product experiences steadily increasing customer acceptance and also brand recognition. Advertising and promotion efforts are focused on product differentiation from that of the competition. This is also the stage when companies might withdraw from the market due to lack of acceptance, product failure, or lack of profits.”
Source: http://www.investopedia.com/ ; article: Buy and Hold, Growth Investing;
The four most important factors in this stage are the control, which we should obtain, the responsibility we are supposed to take, the tolerance of eventual failure, and the changes which we might have to get through. Focusing on each one of the factors will give us the best idea of the concept, and help in understanding the relation between them.
I. Control factor
Although the natural growth happens more gradually and naturally than buying up other businesses or entering new markets, it still needs to be controlled. What we need to know is how it is happening and be accurate about our plans, ambitions and expectations for development .We also should have in mind that if it happens too quickly or without structure, our business can get seriously damaged. There are some really important questions we should ask ourselves in order to manage growing our business in the best possible way. The first of them is if the control system imply enough trust, and from it derives the second one-does the allocation system imply trust.
It is really important they both
Identify and discuss the four most important factors that need to be considered during the growth stage.
In order to be maximally precise writing about the four most important factors in the growth stage, the first thing I believe should be done is to describe accurately what exactly a growth stage is.
This is the second stage in the product life cycle, characterized by increasing sales, high profits, and market entry by competitors.” During this stage a successful product experiences steadily increasing customer acceptance and also brand recognition. Advertising and promotion efforts are focused on product differentiation from that of the competition. This is also the stage when companies might withdraw from the market due to lack of acceptance, product failure, or lack of profits.”
Source: http://www.investopedia.com/ ; article: Buy and Hold, Growth Investing;
The four most important factors in this stage are the control, which we should obtain, the responsibility we are supposed to take, the tolerance of eventual failure, and the changes which we might have to get through. Focusing on each one of the factors will give us the best idea of the concept, and help in understanding the relation between them.
I. Control factor
Although the natural growth happens more gradually and naturally than buying up other businesses or entering new markets, it still needs to be controlled. What we need to know is how it is happening and be accurate about our plans, ambitions and expectations for development .We also should have in mind that if it happens too quickly or without structure, our business can get seriously damaged. There are some really important questions we should ask ourselves in order to manage growing our business in the best possible way. The first of them is if the control system imply enough trust, and from it derives the second one-does the allocation system imply trust.
It is really important they both