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Be ready for the challenges that come with growth in your business

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Be ready for the challenges that come with growth in your business

Posted by Vlerick Business School
on Feb 8, 2018
in Entrepreneurship

Back in 1972, Larry Greiner observed that as companies grow, they hit a number of walls. With each wall they hit, they experience a crisis that they need to resolve.

This article is part of a complete white paper on entrepreneurship which you can download here  

Larry Greiner’s timeless model continues to hold true: as companies grow, they hit a number of walls. With each wall they hit, they have a different sort of challenge and a different sort of management job to do. The first challenge is to attend to the need for leadership and direction that may have been neglected during the founding period of creativity. Too much ‘hands-on’ by the boss then brings about a need to give people more say in the day-to-day, the second challenge.

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Growing business and growing teams creates the third challenge, which is one of introducing processes
and people for coordination to address the crisis of control. Over-steering with burdensome coordinating mechanisms brings about the fourth challenge and the need to foster a spirit of collaboration that draws on initiative and teamwork. A company spending too much time in its internal world faces the risk of growth just drying up, the fifth challenge. So reaching outside for opportunities to inject new ideas
through alliances is key.

This article is part of a complete white paper which you can download here  

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