ABSTRACT
Growth and development must be planned, controlled, and managed in such a way that various problems that will inevitably emerge do not stifle the venture's development, causing premature stagnation or decline. New entrepreneurial ventures and business organizations, in general, typically generate high rates of growth and attractive profitability ratios during their initial stages of development. Cycle theories of organizational change may be either partial or complete. The vacuum theory advocates that innovative organizations come into being when there is a void in the institutional coverage of a specific market. A typical management response to crises and transitional strains is a total or partial reorganization of the company. Financial standards and close examination and reevaluation of financial factors are essential for successful growth management if the venture wants to remain on track with the financial goals and objectives that were set in the original business plan.
