Starting a business is a risky endeavor
Starting a business is a risky endeavor, but staying in business can be just as challenging. As the entrepreneurial firm grows beyond founding, it needs to ensure its organization is capable of managing growth. We have outlined a driving forces model that integrates leadership, opportunity domain, and resources and capabilities—and has execution at the core. The entrepreneur should understand and anticipate the challenges associated with building and managing a growing organization at different stages, prepare the organization to execute effectively at each point, and set the stage for a healthy future. Identify three (3) companies that have experienced successful, rapid growth in your industry. Study their Websites and search for articles about the companies. Address the following questions: 1. Can you discern their strategic focuses early in their growth cycles? 2. What are the core areas that they are leveraging? 3. How do their growth strategies change later in their lives? 4. What are some peripheral markets/customers they are going for? 5. Have they grown by acquisition? How has that worked out?