The Essential Guide To Managing Small Business.Growth
[eBook]
[Wiley]

Foreword ix
Preface xi
1 Managing Business Growth 1
Making the transition 1
The relevance of management theory to growing businesses 4
Managing effectively and efficiently 7
Setting realistic goals 9
Synopsis of the book 10
2 Making Sense of Strategy 13
Strategic issues: Setting the scene 13
The Titanic: A salutary lesson in strategy 14
Review of current performance 15
Analysing competitive forces 17
Market segmentation: Defining customer behaviour 18
Strategic marketing analysis 19
Distinctive competence 21
Hygiene factors 21
Defining core competences 23
Completing the strategic review: SWOT analysis 26
Setting strategy 28
Phase 1: Setting out the options 29
Phase 2: Evaluating the options 32
The chosen strategy 35
Stretching your organization 36
Organic growth vs merger or acquisition 37
Notes 38
Further reading 39
3 MarketingforProfit 41
Customer behaviour 41
Market segmentation 45
Profiling the customer 47
Competitor analysis and distinctive competence 47
Market positioning 48
The marketing mix 51
Products and product differentiation 52
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Managing strategy through gross profit margin 201
Controlling cash: The balance sheet 201
Notes 214
Further reading 214
10 Planning for the Future 217
Types of business plans 217
The strategic business plan 218
Stages of strategic planning 218
Preparation 219
Business review 223
Customer feedback and market research 225
Setting objectives 225
Setting corporate strategy 229
Financial adequacy 230
Reviewing and revising the strategic plan 242
Operational action plans 244
Monitoring the strategic plan 249
Note 251
Further reading 251
11 Hazards on the Path to Growth 253
Stay focused or venture into new markets? 253
Failure to let go 255
A future role for the founder 257
Appointing a successor to the founder CEO 259
Family members on the payroll 261
Failure to delegate effectively: Undermining management 261
Owner-manager guilt as a barrier to growth 262
Note 263
Appendix 1: Example of a Strategic Business Plan 265
Appendix 2: Example of a Marketing Plan 275
Appendix 3: Example of a Job Specification 287
Appendix 4: Costing and Pricing Example 291
Index 297