Strategic Entrepreneurial Growth

What is one of the reasons that an entrepreneur would need to shift from informal to formal systematic style?

• greater uncertainty

• growing economy

• funding resources

• new technology

The growth stage is a transition from entrepreneurial one-person leadership to _________ leadership.

• strategic one-person

• managerial team-oriented

• strategic team-oriented

• managerial one-person

While managing the growth stage, entrepreneurs need to transition the ______ to their personnel.

• focus on profits

• spirit of innovation

• enthusiasm for the company

• importance of marketing

In a management structure, there is a need for clearly defined authority and ___________.

• responsibility

• decision-making

• marketing

• training

A __________ plan defines how and when  owners and investors will realize  an actual cash return on their investment.

 

•  

  succession

•  

  buy/sell

• transition

• harvest

. If a firm is to generate a significant among of cash for investors, then what action must the current owner take?

• Have an initial public offering (IPO)

• Determine succession

• Liquidate

• Sell the business