DANCEST 805 Lecture Notes - Lecture 28: Organizational Culture, Small Business, Market Orientation
Document Summary
Importance of growth in relation to other goals that individual entrepreneurs may aspire to change over time (different stages: strong relation between growth motivation and growth performance, growth orientation can vary depending on firm and time. Barriers & growth constraints the external operating context. Rapidly changing environment: origins of change are multi-sourced. Barriers & growth constraints the internal operating context. Owner-manager & size-related constraints: owner-manager and size-related constraints affect ability to identify & respond to developmental opportunities in external environment. Organisational culture: owner-managed business organisational culture typically reflects the personality traits and aspirations of the owner-manager, shapes enabling and constraining forces affecting the firm, potential constraint on future development. Importance of equity financing to high-growth small firms risky projects and those requiring long-term funding: equity capital is often the only possible source, failure to recognise potential of business angels also significant.
