How to Manage a Small Business

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Introduction
A small business must be managed carefully and closely to produce the desired amounts of success to be obtained from taking a chance on future expansion plans and investment decisions, that will enable the organization to grow. Smaller businesses seeking the opportunity to expand or grow should practice the intensive growth strategy. A growth strategy should be implemented to ensure all organizations seeking growth in the future should utilize performance measurement systems and target setting. An organization must decide on a business form that will offer the owner freedom, as well as protection from any type of liability. Staffing and organizational structure are vital to the survival of any organization.
Growth Strategy
Some small business owners have a goal of growing into a larger, more corporate organization. The reality of that actually happening is small. “Research suggests that only one-tenth of 1 percent of companies will ever reach $250 million in annual revenue” (Dahl, 2010). An intensive growth strategy should consist of market penetration, a market development plan, alternative channels, product development, and new products for new customers. The next type of growth strategy that could be utilized by an organization is an imperative growth strategy or an acquisition. In most cases an acquisition is the perfect example for organizations that are on the downward spiral.
Performance measurement systems and target setting will give an organization vital information about the market and which way to direct its attention and company. It will also provide a starting point for a system of target-setting that will help the owner or manager implement strategies for growth. A manager must be aware of...

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...the organization is ran. Any manager can detail the organization to be ran to the best of its abilities.

References
Dahl, D. (2010). How to develop a business growth strategy. Retrieved from http://www.inc.com/guides/small-business-growth-strategies.html.
Davis, S. (2014). Organizational structure & staffing. Retrieved from http://smallbusiness.chron.com/organizational-structure-staffing-10875.html
Info Entrepreneurs. (nd). Measure performance and set targets. Retrieved from http://www.infoentrepreneurs.org/en/guides/measure-performance-and-set-targets/.
The Company Corporation. Business entity types. Retrieved from https://www.incorporate.com/business_structures.html.
The U.S. Small Business Administration. (nd). What SBA offers to help small businesses grow. Retrieved from http://www.sba.gov/content/what-sba-offers-help-small-businesses-grow.

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