personal learning statement in business growth
AlyAly
Presentationforbusinessgrowth3.pptxWill include:
business aims
environmental analysis
opprtunities for growth
organizational requirements for growth
risks for growth
pro-form expression of planned growth
revisit your desired learning outcomes
consider your new learning
enrol your values
reinterpret your life experiences
incorporate your consideration of others
factor in new sources of information
demonstrate your thinking about your thinking
Unit Outcomes
Demonstrate and apply knowledge of the core concepts of business growth.
Apply theories, models and concepts to analyse critical issues related to the expansion of business organisations and formulate evidence-based recommendations to improve growth outcomes.
Develop a business growth report that incorporates related issues and concepts in real world contexts and presents such views in a persuasive manner.
Reflect on your ability to imagine, research and document business growth opportunities as well as your ability to think and act entrepreneurially.
Personal
Learning
Statement
Focus Areas
The IDEAS Framework
The Environmental Interaction Framework
Business Growth Strategies
Organizing for Business Growth
Business Growth Risk
Financing and Extrapolating Business Growth
Communicating Business Growth Strategies
Qualitative Definition of Small Business
Independently owned and operated (not part of a larger corporation)
The owners contribute most, or all, of the operating capital (i.e. they bear the risk and they are entitled to the profits)
The owners make most decisions and are not answerable to anyone else (owner-managers)
The business has a small market share
Small business: a small-scale, independent firm, which is usually managed, funded and operated by its owners, and whose staff size, financial resources and assets are comparatively limited in scale.
Most definitions are a mixture of both qualitative and quantitative measures.
Social and Economic Role of SMEs
Employment opportunities
The next generation of large firms
Competition
Innovation
An outlet for entrepreneurial activity
Exports
Specialised products and services
Support to big business
Decentralisation (economic activity in regional areas)
More equitable distribution of economic resources, wealth and opportunities
Flexibility in the overall economy
Advantages:
Being your own boss
Can align personal goals and interests with work
Potential financial rewards
Provide support/jobs/opportunities to family members
Disadvantages:
Uncertainty, ambiguity and constant change
Stress
Potential for financial loss
Increased responsibilities
Need to be multi-skilled
Key Topics
The Growth Wall
Increasing resource needs
Hiring for tomorrow today
Staying true to your original mission
Developing Leadership
Time management
Maintaining community relation
Sustainability issues
Management Challenges
Command and control challenges
Responsibility v delegation
Remaining adaptive (vision, opportunity perception & innovative culture)
Uncertainty & Growth
Complex environments, entrepreneurial experience, adaptive capacity
Strategy Design & Planning
Vision, mission and strategic intent,
Key Topics
Business Model
Exchange of products/service, information & money
Business Model Design
Different perspectives: Strategic, economic & organizational
Lack of Strategic Planning
Time, knowledge, expertise, lack of trust, misperception of costs
Value of Strategic Planning
Better to do than not to do, but there are many likely flaws; (see Porters five flaws … ask yourself about competition??)
