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At this stage, the business is often the result of one visionary leader or a small group of leaders. It is characterized by a lack of formal structure, rules, financial resources and coordination of tasks. A manager in a start-up organization would need to spend many hours involved in every aspect of the business. There are no other levels of management to delegate tasks to and no infrastructure to support smooth function of the business if the leader is absent. The key internal challenge for a manager in this environment is to make the most of limited resources ? financial and human resources...
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