The Best Growth Strategy Options For Continued Success Essay

1060 Words 5 Pages
Erica Mills, a self-taught graphic designer created Warm Fuzz a small greeting card business which she owns and operates. Thus far, she has been supplying her product to local customers and retail stores. She believes that with the help of her husband Craig, who has experience in Human Resource, Quality control, Productions and Assembly. She will be able to increase her customer base and grow her business successfully over time. Additionally, she and her husband have decided to begin working on their family within the next upcoming year. Erica is exploring the best growth strategy options for continued success. Primary issues
The primary issues Erica faces as an entrepreneur with little business experience and knowledge is which growth strategy best suits her business. Although Erica primary runs the business and enjoys the control she has with the slow growth rate strategy, her husband prefers the fast growth rate approach which is a conflict within itself. As the primary decision maker she must decide if a slow growth rate or a fast growth rate strategy would have the greatest rate of return. After addressing the primary issues she must also address other related issues. Related Issues Other issues include time management and funding. Although Craig would assist with quality control, productions and assembly Erica solely fulfill several roles such as graphic designer, accountant, and marketing manager. For example, without any formal business training it may…

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