1. MANAGING THE GROWTH
Prof J C Saboo

2. Growth is attitude Not all new ventures grow rapidly
Many continue to exist at a satisfying level of sales with little or no growth.
Entrepreneur’s interest and market response to the product dictate future growth.

3. Strategic skills needed to effectively manage the growth
Good records and financial controls
Management of the inventory
Human relations
New products and services (innovation)
Long term perspective of the venture

4. Delegate responsibility Provide feedback Train key employees
“An effective organization culture is needed to meet the challenges of business growth”
An owner should:
Communicate
Listen
Delegate responsibility
Provide feedback
Train key employees

5. Long term Strategic Plan
Restatement of the mission
Long term goals and objectives
Strategy formulation
Strategic plan implementation
Feedback and control

6. Customer service/satisfaction
Record and assess complaints and comments from customers
Plan regular meeting with staff members to determine why the complaints are occurring and what solutions can be enacted
Focus groups can be used to monitor and track customer satisfaction.
Customer surveys enable the entrepreneur to standardize measured responses regarding service/satisfaction

7. Customer Relations
The entrepreneur should have a certain acceptable expectation regarding service that, if not met, should involve some consideration of change. Entrepreneurs must be people who care about their customers and are willing to do whatever it takes to ensure favourable customer relations.

8. Expand the venture through:
Expansion – horizontal/ vertical
Diversification- related / unrelated
Joint venture
Acquisitions
Mergers
Leveraged buyouts
Franchising
Business process reengineering
Global ancillarisation

9. Peter.F.Drucker’s tips for growth-oriented enterprises
The need for market focus
Financial foresight
Building a top management team
Where can I contribute?
The need for outside advice

10. THANK YOU!!