PETER WILSON, SUE BATES – THE ESSENTIAL GUIDE TO MANAGING SMALL BUSINESS GROWTH

DESCRIPTION

It is a cliche but we are living in turbulent times. Business decision-making has become more challenging and unpredictable, as we see unforeseen and often catastrophic changes in consumer demand, both at home and in export markets; customers continue to demand more, more quickly and for less; new laws and regulations abound; competitors steal loyal customers; and, increasingly, The risks associated with expansion or a new strategy have grown significantly. In a small business, where a manager doesn’t have a lot of experience in a larger organization or formal management learning, they can seem very daunting. The book gives practical, jargon-free advice on which a SMEs can create a sound platform from which to prosper. Uncomplicated and jargon free to appeal to a manager who doesn’t have a lot of time to read. It can be used as a source of information for dealing with the day-to-day problems of running and growing a small business. The examples were taken from consulting practice.

TABLE OF CONTENTS

Foreword.

Preface.

1. MANAGING BUSINESS GROWTH.

Making the change.

Management theory is relevant to growing business.

Managing in a way that is effective and efficient.

Setting realistic goals.

The synopsis of the book.

2. MAKING SENSE OF STRATEGY.

Setting the scene is a strategic issue.

The. There is a movie called Titanic. There is a lesson in strategy.

There is a review of the current performance.

Analyzing competitive forces.

Defining customer behavior is a market segment.

A marketing analysis.

Enhancing competence.

There are hygiene factors.

Core competences are defined.

The strategic review is done.

Setting a strategy.

Setting out the options is the first phase.

The second phase is evaluating the options.

The strategy was chosen.

Enhancing your organization.

Growth is organic vs acquisition.

3. MARKETING FOR PROFIT.

Customer behavior.

There is a market.

The Custoner is being profiled.

Competent analysis and analysis of competitors.

Market positioning.

There is a marketing mix.

There are products and product differences.

Pricing.

There are channels of distribution.

Communication of the offer is a promotion.

The marketing function is being organized by people.

The people have key skills, knowledge and qualities.

Relationship marketing.

Customer relationship management is a field of management.

Customer feedback.

Market research.

The plan for marketing.

There is action on ABCO’s marketing problems.

4. DEVELOPING AN ORGANIZATION THAT DELIVERS THE STRATEGY.

Understanding the organization.

Maintenance and development of organizations.

The beginnings of an organization.

The structure, people, processes and systems of organizations are explained.

Structure.

The organization’s form.

People.

There are processes and systems.

People to fill jobs.

There are other influences on organization.

How to change your organization.

5. GETTING PERFORMANCE FROM PEOPLE.

People processes and attention to task.

People and productivity.

Personal resources and self-management.

Managing priorities and getting things done.

Understanding motivation is important.

Positive motivation, dissatisfaction, and demotivation.

Performance from people.

Contract setting and briefings.

Monitoring.

You can give feedback and review it.

There are performance problems.

There is feedback, learning and growth.

6. LEADING THE TEAM.

Making it safe to delegate is power in the growing organization.

Leadership and delegation.

A leadership style.

Working with people.

It’s important to balance attention to task with attention to people and processes.

Composition of the successful team is one of the team roles.

There are stages of team development.

Team processes are matched to task situation.

People for the team.

Performance appraisal can be used to align people with purpose.

A system that works.

A meeting to conduct an appraisal.

There is a systematic development of competencies.

New people are being recruited.

Interviewing selection.

It’s important to avoid recruitment pitfalls.

New recruits are being introduced.

The underlying skills are building and leading the team.

7. CULTURE, CREATIVITY AND CHANGE.

The organization is growing.

Organizational culture is what it is.

Understanding the culture of the organization.

There is a small-business culture.

The influence of owners.

The can-do culture has structure, empowerment and can-do culture.

Influencing culture in a positive way.

Encouraging better ways of doing things is maintaining freshness.

Learning, contribution and growth are what Renewal is about.

8. MANAGING BUSINESS PERFORMANCE THROUGH FINANCIAL ANALYSIS.

There are financial statements.

The principles of accounting.

The profit and loss account is being explored.

The balance sheet is being explored.

There is a presentation of accounts for sole traders.

Adequate capital is maintained.

A cash-flow statement.

Why is profit different from cash?

Financial analysis.

Financial performance can be understood using ratio analysis.

9. MANAGEMENT INFORMATION SYSTEMS AND FINANCIAL CONTROLS.

Profitability and cash are controlled.

The P&L account is controlling profit.

Managing strategy through gross profit margin.

There are costing and pricing reviews.

The balance sheet deals with controlling cash.

There are controls on working capital.

10. PLANNING FOR THE FUTURE.

There are different types of business plans.

There is a business plan.

There are stages of strategic planning.

Prepare.

There is a business review.

Market research and customer feedback.

The objectives are set.

Corporate strategy is set.

There is financial adequacy.

The strategic plan needs to be reviewed and revised.

There are plans for operational action.

The strategic plan is being monitored.

11. HAZARDS ON THE PATH TO GROWTH.

Do you stay focused or venture into new markets?

Failure to let go.

The founder will have a future role.

The founder CEO had a successor.

There are family members on the payroll.

Enhancing management is undermined by failure to delegate effectively.

A barrier to growth is owner-manager guilt.

Note.

An example of a business plan.

An example of a marketing plan is included in Appendix 2.

There is an example of a job specification.

An example of costing and pricing.

Index.

AUTHOR INFORMATION

Peter Wilson is a man. After working in manufacturing and retail management, he joined the teaching faculty of the London Business School. The enterprise partnership was founded in 1983 by him. He wrote books for the small business market.

Sue Bates. Before joining London Business School, he worked in advertising and marketing. She is a management psychologist who lectures and consults on management processes and leadership development.

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The essential guide to managing small business growth is available.

The essential guide to managing small business growth is available for download.