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Balanced Maturity Framework
Abstract
Entrepreneurs form businesses to be successful. To begin, a small business must make a profit. But then success may be measured in growth or longevity. In either case the small business will mature over time. The management processes will become more structured as decision making is formalized and the necessity for information expands beyond the boundary of the small business. To support this structured approach technology must be more sophisticated. More extensive E-commerce will facilitate improved interaction with customers via Customer Relationship management systems. Advanced E-business will promote more efficient and effective Supply Chain management and relations with suppliers. A balanced approach to maturity, as proposed in this chapter, will improve performance of the small business and contribute to competitive advantage.
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