This course focuses on the common growth challenges faced by existing private businesses when they attempt to grow substantially. What you will learn: common myths and truths about growth in business; growth readiness assessment; the 4 P's of growing a business: planning, prioritization, pace and process; four ways to grow your business: scale and CVP, innovating, outsourcing and strategic acquisitions.
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Syllabus
Week 1
Course Overview
This module introduces the course.
Week 2
The Truth About Growth
This module presents an overview of growth in business with common myths and truths. There is a required reading: Edward D. Hess, "Growth is the Dynamic Confluence of Strategy, Entrepreneurship, and Values." An option case study reading on Eyebobs Eyeware, Inc is also available. What do you like about the site? What do you dislike? Why is her website so important to her business? What should Julie do to keep her website "fresh"?
Week 3
Feller's Gourmet Workshop
This module presents a series of questions to discover if you are ready for growth. The required reading is by Edward D. Hess, 3 Fellers Bakery, Case Study.
Week 4
The 4 P's
This module presents the four P's of growing a business: planning, prioritization, pace and processes. The four ways to grow your business are improvements, innovations, scaling, and strategic acquisitions. The required reading is Edward D. Hess, "Defender Direct, Inc.: A Business of Growing Leaders," Case Study.
Week 5
Four Ways to Grow a Business
This module reviews the four ways to grow a business. The required reading is Edward D. Hess, Sanju Jacob and Monidipa Mukherjee,"Enchanting Travels," Case Study.
Week 6
Creating a Growth Plan
This module dives into the logistics of creating a growth plan for Barger & Sons, Inc. The required reading is Edward D. Hess, "C.R. Barger & Sons, Inc.," Case Study. Eric Barger faces a big growth challenge. His primary product is concrete septic tanks. His product does not differ from his competitor's products. His business is not well known. He does not sell to the end user. His customers buy based primarily on price. His business has stopped growing and is not that profitable. His father has said the business must grow or it will be closed. Your assignment is to use the concepts you learned in the previous modules to create a growth plan for this business. For this assignment, please list all the growth ideas you can create for him to consider. Do not narrow his choices, but be realistic with your ideas. It will help you to think about growth options using the four ways to grow a business: improvements, innovation, scaling, and strategic acquisitions. A second way to think about his growth options is in functional business terms: product design; supply of raw materials; product manufacturing; product pricing and terms; product sales; delivery; customer service; technology; and marketing. Your end work should be a list of realistic growth ideas.
Week 7
Final Exam
This is the final exam.
