While useful in many respects, these frameworks are inappropriate for small businesses on at least three counts.įirst, they assume that a company must grow and pass through all stages of development or die in the attempt. Each uses business size as one dimension and company maturity or the stage of growth as a second dimension. Various researchers over the years have developed models for examining businesses (see Exhibit 1). For the former, cash-flow planning is paramount for the latter, strategic planning and budgeting to achieve coordination and operating control are most important. The problems of a 6-month-old, 20-person business are rarely addressed by advice based on a 30-year-old, 100-person manufacturing company. A case in point is the exclusion of dividends from double taxation, which could be of great help to a profitable, mature, and stable business like a funeral home but of no help at all to a new, rapidly growing, high-technology enterprise.įinally, the framework aids accountants and consultants in diagnosing problems and matching solutions to smaller enterprises. The framework also provides a basis for evaluating the impact of present and proposed governmental regulations and policies on one’s business. It can help in anticipating the key requirements at various points-e.g., the inordinate time commitment for owners during the start-up period and the need for delegation and changes in their managerial roles when companies become larger and more complex.
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These points of similarity can be organized into a framework that increases our understanding of the nature, characteristics, and problems of businesses ranging from a corner dry cleaning establishment with two or three minimum-wage employees to a $20-million-a-year computer software company experiencing a 40 % annual rate of growth.įor owners and managers of small businesses, such an understanding can aid in assessing current challenges for example, the need to upgrade an existing computer system or to hire and train second-level managers to maintain planned growth. Yet on closer scrutiny, it becomes apparent that they experience common problems arising at similar stages in their development. They are characterized by independence of action, differing organizational structures, and varied management styles. Small businesses vary widely in size and capacity for growth. Note: we also found two other guides helpful in different ways: Maui Mile by Mile and Top Maui Restaurants.Categorizing the problems and growth patterns of small businesses in a systematic way that is useful to entrepreneurs seems at first glance a hopeless task. I highly recommend this book for the visitor to Maui - first-timer or seasoned vacationer. We used the maps daily, then I turned to the page referenced for f ull details about where we needed to stop or what we should look for.įor example, we found the Nakalele Blowhole because I read each direction on page 57: "Exactly 1/2 mile past the 38 mile marker." It was an awesome natural phenomenon that was not visible form the road and we would not have found it except for these directions! This book is a softcover but has fold-put flaps like a dustjacket that contain quick reference maps, beach photos/names, and page references for each.
This was the first vacation of my life that my husband had nothing to complain about! :-)
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Every corner of the island was expertly described and rated, plus we used Maui Revealed as the guide to picking our activities while we were there. I can't imagine how else they could have packed this much information in a single volume. I purchased this book in advance of the trip, and I admit, it was hard for me to follow at first.īut then we arrived on the island, and everything in this book is right on target. My husband and I just returned from a week long vacation to Maui.
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