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What do Entrepreneurs Create?

Understanding Four Types of Ventures

Michael H. Morris and Donald F. Kuratko

Four different types of ventures created by entrepreneurs are explored in What Do Entrepreneurs Create?: survival, lifestyle, managed growth and aggressive growth. The concept of a balanced venture portfolio is introduced to guide public policy formulation and the development of entrepreneurial ecosystems.
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Chapter 5: Managed growth ventures: learning to fly

Michael H. Morris and Donald F. Kuratko

Extract

This chapter explores the nature and functioning of managed growth ventures. With these businesses, the entrepreneur seeks sustained growth and ongoing expansion of the business, but they also strive to achieve this growth in a deliberate and controlled manner. Importantly, with this type of venture, the entrepreneur is not trying simply to increase sales revenue from current operations, or improve profits by reducing costs, which is common in many lifestyle ventures. Rather, the objective is to expand the nature and scope of the business We consider the core requirements for managed growth, and the underlying characteristics of these types of ventures. Attention is devoted to the unique role played by innovation and risk in these firms. The different paths to achieving managed growth are assessed. Some of the more common mistakes made by companies seeking this type of growth, and how these can be avoided, are investigated.

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