The growing business handbook : inspiration and advice ... - Sparkler

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186 Designed with you in mind. At Nottingham Business School, we specialise in tailored executive and leadership programmes, bespoke management development and specialised short courses for business professionals. Our expert insights and experience have helped organisations worldwide to unlock their potential and improve their performance at all levels. With the right strategies, policies and processes, you can ensure that your organisation has the very best people on board. Realise the potential in your organisation Contact us today: Tel: +44 (0)115 848 8139 Email: nbs.business@ntu.ac.uk www.ntu.ac.uk/nbsbusiness The sharpest minds need the finest advice. Kogan Page creates success. www.koganpage.com You are reading one of the thousands of books published by Kogan Page. As Europe’s leading independent business book publishers Kogan Page has always sought to provide up-to-the-minute books that offer practical guidance at affordable prices.
187 Developing the next layer of management 7.2 Jeanette Purcell, founder and director of JP Associates, discusses how to find – and prepare – the right person to take the business forward At a networking event recently I was introduced to someone who had built a successful business over 10 years, selling and installing air conditioners. With a background as a heating engineer he started the business on his own, now employed two other engineers and had, over the years, enlisted the help of his wife, son and, most recently, his daughter. It was his daughter, he said, who had made him aware that the business had far more potential for growth than he realized. She had sought out new customers, weighed up the competition and persuaded her father to focus on customer service, something that, in the past, he had not considered important. ‘Now,’ he proudly told me, ‘she is doing an Executive MBA. The business is sponsoring her and already we are reaping the benefits. I am confident that I will be able to pass the business over to her and that, under her management, we will really take off.’ The case for developing your talent Here was someone who recognized the potential for his business to grow but understood that he was probably not the person to help the company develop. Luckily for him, his daughter quite obviously demonstrated the skills and talent required and he did the right thing by encouraging her further development. For other small businesses (often family owned) it is not so easy to identify the next layer of management. Many face the challenge of finding the people in their team who are going to move the company beyond its small beginnings to the next growth phase. And that’s not the only problem – having identified the need to develop its people, how does a small business, preoccupied with short-term survival in a period of recession, justify the time and the money required to invest in training? It’s an important question. However, the owner-manager of the air conditioning business reflects an increasing awareness that investment in the long term is crucial even, or
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i THIRTEENTH EDITION THE GROWING BU
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iii The perfect property for your
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v Contents Part One Planning for gr
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Contents vii Patenting costs 49 Wha
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Contents ix Part Four People and pe
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Contents xi 6.3 How to find your id
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Contents xiii 9.3 Licensing 233 Ton
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Part One Planning for growth 1
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3 Business models and competitive a
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Business models and competitive adv
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Business models and competitive adv
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Take a look at the map of our campu
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11 How to compete against fastmovin
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How to compete against fast-moving,
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How to compete against fast-moving,
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17 How to build a growth plan 1.3 A
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How to build a growth plan 19 Next
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How to build a growth plan 21 Opera
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23 The SME economic outlook 1.4 Gra
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The SME economic outlook 25 ●●
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27 The growth opportunity 1.5 Manuf
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The growth opportunity 29 To make t
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31 Managing setbacks and turnaround
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Managing setbacks and turnarounds 3
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Managing setbacks and turnarounds 3
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Part Two Ideas and innovation 37
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39 Whole company innovation 2.1 Inn
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Whole company innovation 41 of a pr
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Whole company innovation 43 create
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Whole company innovation 45 Incenti
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47 Innovating out of recession 2.2
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Innovating out of recession 49 expe
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Innovating out of recession 51 Jacq
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53 Exploring patent information 2.3
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Exploring patent information 55 ●
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Exploring patent information 57 Mr
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59 IP challenges for technology ven
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IP challenges for technology ventur
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IP challenges for technology ventur
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65 Making open innovation work 2.5
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Making open innovation work 67 the
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Making open innovation work 69 an i
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Part Three Gaining market share 71
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73 Taking your brand to the next le
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Taking your brand to the next level
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77 With over 1,000 titles in printe
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79 Market intelligence 3.2 Nick Hag
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Market intelligence 81 table 3.2.1
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Market intelligence 83 but also tha
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85 Web marketing 3.3 What’s the p
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Web marketing 87 considerable amoun
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89 Winning new business 3.4 In a do
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Winning new business 91 back away),
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93 Brand rights 3.5 Name? Logo? Dom
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Brand rights 95 trade mark attorney
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97 With over 42 years of publishing
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99 Fit for market 3.6 Confidence is
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Fit for market 101 markets abroad a
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Part Four People and performance 10
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105 Rewarding good performance and
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Rewarding good performance, lowerin
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109 With over 1,000 titles in print
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111 Employment policies 4.2 Belinda
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Employment policies 113 information
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Employment policies 115 Belinda Cop
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117 Taking on an employee 4.3 Help
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Taking on an employee 119 employee
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121 The sharpest minds need the fin
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123 Training for growth 4.4 David G
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Training for growth 125 of the trai
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127 With over 1,000 titles in print
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129 Executive search for smaller bu
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Executive search for smaller busine
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133 Improving workplace performance
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Page 151 and 152: Part Five Cash flow and working cap
Page 153 and 154: 139 ÒThe message is clear - we wan
Page 155 and 156: 141 Cash flow management: an essent
Page 157 and 158: Cash flow management 143 3 Keep a c
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Page 161 and 162: 147 Invoice finance for growth 5.2
Page 163 and 164: Invoice finance for growth 149 the
Page 165 and 166: Invoice finance for growth 151 ●
Page 167 and 168: 153 Preventing slow payments 5.3 Do
Page 169 and 170: Preventing slow payments 155 some l
Page 171 and 172: Preventing slow payments 157 Graydo
Page 173 and 174: 159 Commercial fraud and business i
Page 175 and 176: Commercial fraud and business ident
Page 177 and 178: Part Six Efficient SMEs 163
Page 179 and 180: 165 Build the network 6.1 As you gr
Page 181 and 182: Build the network 167 essential net
Page 183 and 184: 169 The sharpest minds need the fin
Page 185 and 186: 171 Strategic sourcing 6.2 Plan to
Page 187 and 188: Strategic sourcing 173 So, how and
Page 189 and 190: 175 How to find your ideal office 6
Page 191 and 192: How to find your ideal office 177 a
Page 193 and 194: Part Seven Leading growth 179
Page 195 and 196: 181 How small business owners can b
Page 197 and 198: How small business owners become be
Page 199: How small business owners become be
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Page 205 and 206: 191 The leadership process 7.3 With
Page 207 and 208: The leadership process 193 Although
Page 209 and 210: 195 With over 1,000 titles in print
Page 211 and 212: 197 Ethics and the growing company
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Page 215 and 216: Ethics and the growing company 201
Page 217 and 218: Part Eight International expansion
Page 219 and 220: 205 Competing and collaborating wit
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Page 227 and 228: 213 International expansion made ea
Page 229 and 230: International expansion made easy 2
Page 231 and 232: 217 The export challenge 8.3 As a g
Page 233 and 234: The export challenge 219 Market Acc
Page 235 and 236: Part Nine Structures for growth 221
Page 237 and 238: 223 Partnerships and collaborations
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Page 241 and 242: Partnerships and collaborations 227
Page 243 and 244: 229 Acquisitions that work 9.2 Stra
Page 245 and 246: Acquisitions that work 231 Issue 4
Page 247 and 248: 233 Licensing 9.3 In finding the be
Page 249 and 250: Licensing 235 ●● ●● ●●
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237 With over 42 years of publishin
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239 Preparing a business for sale 9
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Preparing a business for sale 241 g
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Preparing a business for sale 243 L
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Preparing a business for sale 245 C
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Part Ten Growth capital 247
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249 Funding your business through t
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Funding your business through the r
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253 The sharpest minds need the fin
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255 Structured finance 10.2 Structu
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Structured finance 257 Factoring or
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259 Transforming the finance functi
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Transforming the finance function 2
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Transforming the finance function 2
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265 Index of advertisers A.Steele A
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