Week 8:growing The Entrepreneurial Firm The Inte

Week 8: Growing the entrepreneurial firmThe internal characteristics of an innovative small firm and the background and experience of the owner/manager significantly impact the growth prospects of that small firm. However, the growth strategy that the firm pursues, whether this is explicit or implicit, and regardless of whether this strategy is in place from the outset or as the firm develops, does have a bearing on the development of the firm.Therefore, it may be implied that entrepreneurs who develop the necessary attributes and obtain the necessary assets (tangible and intangible) by way of a business growth strategy are more likely to experience growth. If human resource, financial and market weaknesses impede firm development, then it is essential that management address these inadequacies and mitigate them. Literature on small business growth, particularly firm strategy, looks at the management decisions that either propel a small firm to the next level or cause the firm to stagnate.This week, you examine the need for small innovative firms to develop resources for growth. You will evaluate the importance of resources that will enable growth.The following Key Concept Overview will delve into this topic in greater detail. Read this before progressing on to