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External growth resources

Evaluate at least two external resources for growth and discuss the challenges organizations are likely to face during times of economic difficulty. Recommend additional actions an entrepreneur can take to strengthen the chances of
executing one of the growth strategies you selected.

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One possible external resource for growth would be for the firm to expand through franchising. When a firm has processes that can be easily learned and replicated, and has brand recognition sufficient to have broad appeal, franchising may be a valid opportunity for expansion. One great advantage to offering franchises is growth while using other people's money. For example, a firm has an opportunity for rapid expansion, but lacks the capital to grow. By offering franchises, the firm can earn money from franchisees while simultaneously growing rapidly. One difficulty firms may face during times of economic difficulty relative to growth through franchising would be availability of capital. During ...

Solution Summary

The expert examines the external growth resources.