BSM 200 Study Guide - Midterm Guide: Small Business, Strong Orientation, Marketing Communications

• School: Ryerson University
• Department: Business Essentials
• Course: BSM 200
• Professor: Ranjita Singh

Document Summary

Five stages of growth in small business- mel scott and richard bruce. All businesses pass through distinctive stages as they develop. Although different, each business has very similarities in the problems they face to make a general growth model that is useful. Because of the different characteristics of each stage, the transition from one to the next is often accompanied by a crisis which many be external of internal. Not all business that survive grow to become large businesses: either due to the nature of the industry or the personal desires of the owner. Capital is supplied and ownership is held by an individual or small group. Workers and owners are in one home community, but markets need to not be local. Selected research- several growth models were analysed and drawn on in the development of the model. These models can be broken down into the following categories.