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managing growth challenges
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Read moretechnology (step3)
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Read morechallenges for rapid growth of firm,”Opportunity Overload Rather than lacking enough sales or new market opportunities (a classic concern in mature companies), many entrepreneurial firms face an abundance of opportunitiesAbundance of CapitalWhereas most stable or established small or medium-sized firms often have difficulties obtaining equity and debt financing, most of the rapidly growing firms were not constrained by this.Cash Flow Management These firms all pointed to problems of cash burn rates racing ahead of collections. They found that unless effective integrated accounting, inventory, purchasing, shipping, and invoicing systems and controls are in place, this misalignment can lead to chaos and collapse.Decision makingShort term planning instead of long term strategy. Many of the representatives of these firms argued that under conditions of rapid growth
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Read moretraining (step 4)
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Read morestrategic issues,”Misunderstood market nicheMismanaged relationships with suppliers and customersDiversification into an unrelated business areaMousetrap myopia: Related to the problem of starting a firm around an idea, rather than an opportunity
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.strategic issues,”Misunderstood market nicheMismanaged relationships[…]
Read morecustomer focus (step 5)
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Read moreleadership issues,”Lack of leadership skills, experience
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Read moreresource management (step 6)
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Read more“Poor Planning, Financial/ Accounting Systems, Practices, and Controls”,”Poor pricing, overextension of credit
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Poor Planning, Financial/ Accounting Systems,[…]
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