SMALL BUSINESS MANAGEMENT Chapter 14 Managing Growth.

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Presentation transcript:

SMALL BUSINESS MANAGEMENT Chapter 14 Managing Growth

The Business Cycle  Introduction  _______  Maturity  Decline

Problems Created by Growth  Owner-Manager Fatigue and Stress  Lack of Communication  Lack of Coordination  Shortage of _______  Low Profitability

Problems Created by Growth (cont.)  Breakdowns in Production Efficiency  Lack of Information  Decreasing _______ Morale  Owner Lifestyle

Evaluating the Growth Question  Is the business one that can grow ?  Is the business owner prepared to make the effort ?  Does the owner-manager have the _______ to grow?  How should the owner-manager _______ growth ?

Evaluating the Growth Question (cont.)  Growth options new _______ for the product or service increased sales by increasing frequency of use. add new _______ or services or modify existing ones. new uses for _______ products or services acquire other _______ companies

Planning for Growth  The Expansion Plan set _______ determine alternatives select the best alternative

Planning for Growth (cont)  Understanding the Requirements of Growth Greater Management Depth Intelligent _______ Additional capital Financial Information _______ Change Implementing Managerial Controls Monitoring the _______ Environment

Concept Checks  1. What concepts can help the owner-manager deal effectively with growth problems?  2. What are the four stages of the business cycle?  3. What are the problems created by growth?

Concept Checks  4. How can the owner-manager deal effectively with growth?  5. Why don’t small business owners use more formal planning?  6. What are the steps in the growth plan?  7. What are the requirements of growth?