ADMS 3920 Lecture Notes - Lecture 9: Leveraged Buyout, Succession Planning, Cash Flow

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Chapter 15 managing growing firms and exit strategies. Reasons are that smes (small- and medium-sized enterprises) typically. The report suggests managers of canadian smes that have the capacity for profitable growth but fail to achieve commercial success often lack the necessary organizational and leadership skills to respond to business challenges. Areas where sme companies need to do well to succeed: They achieve a measure of financial and operational stability. The rewards for selling or doing more are just too good to refuse. Refusing to let go of the reins not trusting others in organization; most expansions require at least a few more hands often at the managerial level. Reluctance to delegate as the growth cycle begins can be costly in efficiencies and ultimate success of the expansion. The paper trail having records in a mess; record-keeping is not a chore but a necessary tool for tracking progress, knowing where one stands on receivables and payables, and the inevitable your year-ends.

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