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Continuity during growth, how to establish continuity for Style School ByDanie during the early life cycle passes of the company

Segerink, A.F.M. (2017) Continuity during growth, how to establish continuity for Style School ByDanie during the early life cycle passes of the company.

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Abstract:SSBD, established in 2014, is a training institute for styling, led by three entrepreneurial women, including the Dutch stylist, Danie Bles. The company defines itself as a startup and is looking forward to establish a successful company. This expected outlook, successful establishing the company, is also the cause of the current the problem. SSBD is new to the market, and falls short in business knowledge to let the company grow. Moreover, SSBD has not a distinct view of the life cycle of a company, and which kind of issues this entails. The research question is: “How to establish continuity for Style School ByDanie during the growth stages of the company, focussing on the current and next stage, by extending their entrepreneurial business knowledge highlighting the financial and brand identity aspects in this shift?”. In order to answer this question theory around this subject is examined, interviews with the owners of SSBD are conducted to get a coherent view of the current status and future perspectives. Furthermore, to compare the examined theory, data is collected through interviews with three different startup companies. After analysing the results in comparison with the examined theory the guiding roadmap for SSBD is composed as a guidance of business knowledge. All found pitfalls, securities, insecurities, and critical moments of a startup are discussed in terms of general life cycle, financial and brand identity aspects. It can be conclude, that this research is a great source for SSBD to extend their entrepreneurial business knowledge, and thereby establishing the continuity. There is a guiding roadmap created, through identifying the current and next stage of SSBD and clarify the characteristics of these stages by analysing the practice based on the discussed theory. The complete roadmap is discussed in paragraph. 4.4, underneath the most dominating findings of this roadmap are considered. According to this gained business knowledge SSBD has a great platform to grow and to establish their continuity during this growth. The continuity is established by the guiding roadmap of business knowledge for the early life cycle phases of SSBD, and thereby the objective of the research is achieved. According to the general growth life cycle, analysis showed that every startup faces the insecurity in lack of knowledge. Moreover, the theory of the life cycle can be useful to place events in a specific framework that suits the phase the company is in. In order to lower this insecurity a solution is gaining knowledge, by following a curses in the field where the company lacks knowledge. Moreover, another solution is hiring people that are experienced in the field where the company lacks knowledge. Confirming to the financial life cycle, the analysis did not discover special attention for following a specific method in controlling the financial lifecycle. The practice showed that everything is gathered based on the setting of the company. So it can be concluded that based on the current analysis no specific characteristics or methods are found to establish the continuity of the financial life cycle. Brand awareness, is the component of brand identity that keeps companies busiest during the survival phase as defined by Greiner (1998), here is the practice aligned to the theory. The analysis unravel that the core values of the company are reflected also equal to the theory. However, the companies remain too small for a structured internal communication document. In the startup phase companies structure only internal communication by an online platform. This platform brings all communication together; mail is accessible via this platform but also every document relevant to the company. The advice to SSBD is to not only read, but also discuss the research with the researcher and make based on the gathered business knowledge a revised business plan for the coming year. Advisable is to schedule a day to complete the business plan, based on the business canvas model, with each other. This business plan, should be revised every year to ensure that it fits in the current spirit of time.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/72511
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