Question

list 5 challenges a venture faces in managing its growth?

Answer 1

the following challenges a venture faces in managing its growth are as follows:

1.cash flow and financial management:

Good cash flow control is important for any business. For a growing business, it's crucial - cash constraints can be the biggest factor limiting growth and Good stock control and effective supplier management tend to become increasingly important as businesses grow.

2.Planning ahead:

Following the same business model, but bigger, is not the only route to growth. There are other strategic options such as outsourcing or franchising that might provide better growth opportunities.

3.Problem solving:

As your business grows, you also need to be alert to new problems and priorities.For example, your business might be increasingly at risk unless you take steps to ensure your intellectual property is properly protected.

4.Keeping up with the market:

As products (and services) age, sales growth and profit margins get squeezed. Understanding where your products are in their lifecycles can help you work out how to maximize overall profitability. At the same time, you need to invest in innovation to build a stream of new, profitable products to market.

5.The right systems:

Many growing businesses find using established management standards one of the most effective ways of introducing best practice. Quality control systems can be an important part of driving improvements and convincing larger customers that you can be relied on.