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Gründungs- und Wachstumsmanagement > 7 > Flashcards

7 Flashcards

1
Q

Company Life Cycle Model, Model + infos

1-4

1-5

A
  • transitions not automatic

1 Foundations Phase (product development, marketing, financing)
2 Growth Phase (should be well planned; strategic, administrative, organizational problems; 1/7 succeed)

3 Maturity Phase
4 Decline Phase

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2
Q

Reasons for Growth

1-7

A
  • key driver of company value
  • survivability of company
  • high growth = high evaluation of company
  • growth essential for gaining market shares
  • capital-intensive companies need external capital inflow for investors
  • foundation phase has little or no revenue -> financial condition can’t be - long maintained and has to be compensated quickly
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3
Q

Economy contribution of young companies’ growth

1-6

A
  • technological change through innovation of new products
  • creation of new markets
  • securing and creating of jobs
  • innovation drivers for large parts of the German economy
  • basis for economic growth in Germany
  • increasing attractiveness of Germany for investors home and abroad
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4
Q

How to Measure Growth

1-2

A

Qualitative Measures
- statistical measurements
- input oriented (number of employees, total/fixed/current assets, investments, equity)
- output oriented (sales, profit, production amount, market share)

Qualitative measures
- not directly quantifiable and difficult to determine
- degree of innovation, production quality, customer relations, skills and knowledge

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5
Q

Variants of Growth Paths

bild!

A

1 exponential
- rare
- innovative, technology oriented companies

2 incremental + 3 episodic
- expansion into new markets
increase discontinuously

4 stagnating
- increasing competition in market

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6
Q

Growth Measurements in the Lifecycle of a company

A

Beginning: Input oriented quantitative measures
End: Output-oriented quantitative measures

all: qualitative measures

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7
Q

Growth Models

1-5

A

1 metamorphoses model (effect of changing corporate context on coordinations mechanisms)

2 crisis model (series of developments phases based on growth thresholds and crisis)

3 structural change model (changes in organizational and management systems)

4 behavioral change models (phase related attitude and behavior)

5 market development models (cumulative life cycle of products)

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8
Q

1 Metamorphoses Model by Lievegoed

1-3

A

1 Pioneer Phase
- dominated by founder
- lead, coordinates, directs, personal instruction

2 Differentiation Phase
- implementation of departments
- structural, technical systems are replacing personal leadership

3 Integration Phase
- individual work becomes flexible
- emphasis on team-building and autonomous work

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9
Q

Crisis Model by Albach

1-3

A

1 Early Phase:
- Foundation crisis (due to failure of the founders)

2 Growth Phase:
- Financing crisis (due to high interest charges)
- Management crisis (due to sticking to personal/informal management principles)

3 Maturity Phase:
- age crisis (maturity, succession problems)

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10
Q

Life Cycle Crisis Model by Greiner

X? Y?

1-5

A

Y: from little to large
X: from young to old

1 Management crisis: growth through creativity
2 Autonomy crisis: growth through strong management
3 Control crisis: growth through delegation
4 Bureaucracy crisis: growth through coordination
5 … crisis: great team spirit

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11
Q

Growth at different Levels in the Orga

1-3

A

with advanced growth/increasing size formalizes forms of management become more important

1 strategy & operative business
- extent, breadth of the task increase

2 personnel
- number of heterogeneity and involved individuals increase

3 organization
- complexity and diversity of management tasks increase

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12
Q

Specialization: High + / Low -

A

+ efficiency advantages
+ learning effects through repetition
+ lower level of personnel’s expertise required

  • employee motivation sinks by small range of tasks
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13
Q

Delegation: Decentralized + / central -

A

+ relief of the founder
+ employee motivation
+ faster decisions
+ generating potential successor

  • less control
  • coordination problems
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14
Q

Coordination: Self + / S.o. else -

A

+ quick
+ flexibile decisions

  • clear management
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15
Q

Churchill/ Lewis: About the changing of the company

A
  • ball bilder die auseinander gehen
  • remit of the founder shifts
  • founder turns slowly into “Owner Manager”
  • essential: will and skill of founder
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16
Q

Growth Management by Founder

1-4

A
  • management of individual areas
  • interdependence management: alignment of areas among themselves
  • systems/structure/formal processes substitute time/energy/involvement of founder
  • planning substitute real-time acting and decisions
17
Q

Management Modes by Tasks

A

BILD

18
Q

Management Modes by Area

A

BILD

19
Q

Time Management

A

Bild

20
Q

Problems of Growth

1-5

A
  • Corporate Culture (risk aversion low motivation and flexibility)
  • Frameworks (policy, legal)
  • Overall economy
  • Financing
  • Competition
21
Q

Ways to drive growth

1-4

A

1 word of mouth
- satisfied customers recommend product

2 side effects of product usage
- some products drive awareness when used: fashion
- viral products: customer drives new customers “PayPal”)

3 funded advertising
- advertising expenses must be sustainable (by revenue not one-time investments)
- Rule: marginal profit (capital to attract new customers) = marginal revenue (new customer) - marginal expenses (new customer)

4 repeat purchase/use
- designed to be repurchased (subscriptions, voluntary repurchases)
- many products one time (wedding planning)

22
Q

Growth Drivers

1-3

A

1 sticky engine of growth
- attract/bin customer for long terms
- KPI: fluctuation ratio: growth = new customers > lost customers
- focus on existing customers/product

2 viral engine of growth
- customers takes part in marketing (product usage is marketing itself)
- KPI: viral coefficient: number of new customers because of usage of another
- focus on maximizing the viral coefficient (advertisement)

3 paid engine of growth
- direct investments (e.g. Adwords, salesforce)
- growth if: max (revenue p. customer) or min (expenses p. n. customer)
- focus on marginal profit: Customer lifetime value (LTV) - cost per acquisition (CPA)

23
Q

Typical problem areas due to growth

1-4

A

1 missing delegation of decision-making authority to personnel (->wrong decisions by entrepreneurs)

2 lack of focus due to management problems (->lack of sense of key aspects)

3 loss of entrepreneurial spirit (-> half-hearted implementation of process)

4 funding problem due to lack of pre-financing plans (-> liquidity crisis)

24
Q

Leadership

A

Bild

Gründungs- und Wachstumsmanagement (10 decks)

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