Fundamentals of Management, 11/e

What’s Involved in Controlling an Entrepreneurial Venture?

1. 7-5 Explain how entrepreneurs control organizations for growth, downturns, and exiting the venture.

Philip McCaleb still gets a kick out of riding the scooters his Chicago-based company, Genuine Scooter Company, makes. However, in building his business, McCaleb has had to acknowledge his own limitations. As a self-described “idea guy,” he knew that he would need someone else to come in and ensure that the end product was what it was supposed to be, was where it was supposed to be, and was there when it was supposed to be.39

Entrepreneurs must look at controlling their venture’s operations in order to survive and prosper in both the short run and long run. The unique control issues that ...