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Assess the extent to which the problems of rapid growth may have been managed by Tended Ltd - Edexcel - A-Level Business - Question 1 - 2022 - Paper 2
Question 1
Assess the extent to which the problems of rapid growth may have been managed by Tended Ltd. Tended Ltd is a fast-growing technology start-up company based in Linco... show full transcript
Worked Solution & Example Answer:Assess the extent to which the problems of rapid growth may have been managed by Tended Ltd - Edexcel - A-Level Business - Question 1 - 2022 - Paper 2
Step 1
Step 2
Ways in which the problems have been managed
Answer
Tended Ltd has managed some of these issues through effective leadership. By obtaining additional finance from Enterprise Loans, they addressed communication difficulties, allowing employees to collaborate as a cohesive team. Additionally, the innovative culture fostered by the team has helped in overcoming development challenges.
Step 3
Possible counterbalance
Answer
Despite the measures taken, Tended Ltd may still face short-term communication issues due to the rapid increase in employee numbers. Furthermore, problems related to managing cash flow, especially after securing additional finances, may persist, resulting in operational setbacks.
Step 4
Potential judgment
Answer
Overall, while Tended Ltd has shown resilience in the face of rapid growth by continually innovating and leveraging additional resources, there are lingering problems that need addressing for long-term sustainability. Leo Scott Smith's youth and relative inexperience may also play a role in effectively managing the growing workforce and operational demands.