The course focuses on the decisions and actions owner-managers take in recognising and choosing opportunities, obtaining and allocating resources, challenging and directing personnel, and adapting personal goals and corporate strategies to changing personal and business conditions. In this process, the course examines management challenges that are typical of different stages in the business’s development – start-up, growth, change of direction, etc.
Using this framework, the course will discuss issues of particular importance to rapidly growing firms such as developing networks, managing with limited resources, cash planning, delegation, and professionalizing the business as it grows, dealing with crises, while at the same time being careful to avoid stifling the entrepreneurial spirit as the organisation becomes larger and more complex.
The intended learning outcomes for the course are for the student to be able to:
- analyse and explain why firms grow and what it means for society as a whole
- explain different kinds of reources and its importance for firm growth
- explain the concept of competitive advantage and analyse the competitive advantages of high growth enterprises
- describe the concept of international growth and explain for whom and why it may be appropriate
- describe different kinds of venture capital, use basic models of corporate valutation and argue for its importance for ventures in different growth stages
- explain the concept of exit model, for whom and why a certain exit model would be appropriate
- adapt personal goals and corporate strategies to change personal and business conditions
- argue for common challenges when deciding to expand and grow a venture
- understand and demonstate how a company can remain entrepreneurial when entering a growth phase.
