Question

A Case of Growing Pains
When he first opened his own business, Dionysus loved it. He went to work early in the morning and did not leave until after 9.00P.M. To spend time with his family, he would take off a few hours in the afternoon and then return to the store after supper, staying until closing time. When he was away from the store in the late afternoon, part-time personnel handled the operation. That was five years ago. Since then, Dionysus’s business has grown tremendously. Now he employs eight full-time people and sells seven times as much as he did originally. With this increase in business, however, have come a lot of headaches. In particular, Dionysus has to make many more decisions than he did before. Additionally, although he wants to get his employees involved in the decision-making process and not do all of the work himself, he feels he must do many tasks on his own. He does not believe he can delegate much authority. For example, Dionysus still makes all of the decisions regarding purchasing, pricing, advertising, hiring, and merchandise display, and he still sells goods in the store. Recently, Dionysus went to the doctor for his annual physical. The doctor told him he was working too hard and had to start slowing down. “You’ve been running that store singlehanded for as long as I can remember,” the doctor said. “You’ve got lots of help in the store. Start relying on them to help you out.” Dionysus did not disagree. The doctor offered good advice, and Dionysus knows the has to start delegating more authority and getting out of the actual hustle-bustle of daily activity. However, this worries him. A few months ago, he tried turning over more work to his employees and staying in the background. During that time, he concerned himself with the overall operation of the store and left the minor day-to-day business to the staff. But Dionysus was bored with this side of the operation. He wants to be active-active role in the business, not just to sit in the sidelines. Second, he wants to be in the forefront of the action, like he always has been. Dionysus does not know how to resolve this dilemma. He would like to maintain his level of involvement at the shop but realizes that, for health reasons, this is inadvisable. However, to
be a manager in the true sense of the word seems boring to him.
Source: Adapted from Kuratko, D.F & Hornsby, J.S. (2009). “New Venture Management: The
Entrepreneur’s Roadmap”. New Jersey: Pearson International Edition.

Your consultation: Answer all questions

1. Help Dionysus by explain the key unique challenges of growing a venture and how
important delegation is for growth.

2. Next, explain the key elements in the growth stage that Dionysus should understand.

3. Finally, recommend a way that Dionysus can implement the transactional process from
entrepreneurial style to managerial style during the growth stage.

Answer 1

Answer 1 :

Key unique challenges of growing a venture and how significant delegation is for development :

Nothing incredible can be accomplished by entrepreneur without assigning their work with different staffs .In this given case Dionysus completely drew in on his work constantly and He isn't designating the work to their staffs. First Dionysus ought to comprehend the significance of Delegation .Those elements are recorded underneath.

Delegation significance

• It helps supervisors/Managers off burden theirs works. it spares their time.

• It energizes Team work and joint effort

• It assists with settling on a snappy choice

• It permits to enhance hierarchical effectiveness

• Delegation fix the chain of command ,Authority, Accountability, Responsibility

So Dionysus ought to consider above realities to build up his business development way. Likewise there are sure things need to clear in the Delegation to work better. Lets see the Essential components in Delegation

• Intensity of Authority, Accountability, and Responsibility ought to be plainly characterized to accomplish the business objectives.

• How much volume of work devoted, how decisively work must be done this need to instructed before assigning the work.

• There must be viable checking and control component required for the estimating the Staffs work execution.

• All staffs must be given appropriate preparing before handle their everyday work

So as to turn into an effective businessman, Dionysus should know above fundamental elements to prevail in his business. Likewise he should deal with his wellbeing and he have to persuade different staffs to share his remaining task at hand, Also he have to energize delegation in publicizing, buying, valuing, recruiting in these zones.

This will assist him with reducing his work and furthermore he can make some better memories the board. Delegation of work doesn't imply that all the position given to the staffs, despite everything supervisor will have more control on these staff by consistent checking and Evaluation.

So it's significant for Dionysus to energize the Delegation of work in this undertaking to taste the accomplishment in his Business.

Answer 2 :

Key elements in the development stage that Dionysus ought to comprehend :

The development stage is the place the plan of action is clear as is the clients. It is a phase which has elements like a drawn out business that is made sure about, a couple of elevated level colleagues who can be appointed,

In this progression, the benefits are commonly solid as the organization is bit by bit coming out of the battle or startup stage. In this stage, it gets essential to have viable administration in the midst of expanding development. Along these lines, it is important to create administrative abilities and a growing crew and embracing the expertise of appointing the position and engaging the representatives.

Subsequently, a separating factor when contrasted with the startup stage is that the proprietor or the supervisor should now step by step take up the back end job, begin assigning the non-critical undertakings or choices. This is basic to advance well to the development stage.

For this situation, Dionysus' business is growing immensely. He has full time and low maintenance representatives. With the expansion in business, he should comprehend that each errand from offering to buying is impossible without any assistance, and in this way its chance to take progressively urgent jobs close by and trust colleagues with different undertakings.

While he dislike the job as indicated by him it's not dynamic but rather intermittent jumping between the jobs is fine to have a general comprehension. Be that as it may, for growing to next stage development, a progressively focused exertion to extend the business should be thought upon and executed, which is impossible by a solitary individual.

Answer 3 :

Recommendation for a way that Dionysus can execute the transactional procedure from entrepreneurial style to administrative style during the development stage :

Various issues can happen during this progress particularly if the undertaking is described by elements, for example, an exceptionally brought together dynamic framework and over reliance on a couple of key people and deficient columnist of administrative abilities and preparing. These qualities in spite of the fact that of a successful in the new venture fire up and starting endurance represent a danger to the association's advancement during the development stage.

So as to achieve the fundamental progress the business person must be painstakingly arranged and afterward continuously actualize the procedure coming up next are the means are proposed :

The business person simply need to roll out the improvement and must need to unequivocally enough to attempt significant alterations in their own assignment conduct.

The everyday dynamic techniques of the association must be changed explicitly and cooperation in the process must be extended.

The a few key working assignments that are principally liable for the association achievement must be organized. this may include the determination of new individuals to enhance or supplant people who have played out these undertakings previously.

Center level administration must be created. master must figure out how to become practical supervisors while work directors must figure out how to become General chiefs.

Misshape the technique ought to be assessed and altered if important to accomplish development.

The authoritative structure and its administration and techniques must be gradually adjusted to fit the organization's new system and ranking directors.

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