As a new business venture grows, it is important to establish mechanisms that can effectively answer the need to control the growth. Control can be both preventive and corrective measures that nurture the growth of the venture while making sure it doesn’t develop ineffective habits or ideas. Applying control recognizes that the entrepreneur puts in place the checks and balances to monitor the growth patterns. Research and provide examples of at least one control scheme applied by a new business venture in your industry to have a managed growth pattern. What were the successes? What were the failures? Explain.
