Not Standing Still

In an increasingly competitive global business environment, a manager’s ability to identify and seize new opportunities, then strategize to plot a growth path for an organization and to use resources effectively and efficiently, becomes paramount.

There is a vast array of management tools available to meet such challenges, including tools for dealing with strategy analysis, decision making, and implementation. The challenge for managers is knowing which and when to use these tools. These have been discussed in previous chapters, so this chapter looks at rules to follow when your business is expanding.

Pre-expansion Rules

Once you have launched your business, you will quickly realize that to increase profits you will ...

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