Rapid Growth Literature Review

As varied as the literature is in its definition of an entrepreneur, there are even more diverse definitions of rapid-growth as a concept. Again, whatever definition is used, it should be relevant to the subject and context of the study in which it is used. The definition of rapid-growth reflects what Harms (2009) describes as a lack of consensus on the definition of rapid growth. He adds that many studies define rapid growth as growth of 20% for at least two consecutive years.
Hambrick and Crozier (1985) posit that the challenges experienced by rapid-growth firms are similar. The objective of this study is to identify which founder characteristics are necessary to overcome these similar challenges.
They add that instead of being a time for

They refer to a 1969 article by Steinmetz, in which a model of firm growth is linked to different founder roles (direct supervision, supervised supervision and indirect control) and different stages of firm growth (page 34). The founder must effectively evolve so as to have the appropriate characteristics for the stage in which the hotel is currently operating. This study covers two stages in the model by Hambrick and Crozier (1985) identified as infancy and growth stage with particular emphasis on accelerated growth in which the founder roles of direct supervision and supervised supervision are

They define rapid growth as a 3-year compound annual sales growth of 80% and above. The study by Barringer et al (2005) is of particular relevance because it analyzes circumstances that are similar to that of our organization; a new business trying to establish conditions for rapid growth so as to take advantage of expected favorable conditions in its operating environment. Zook and Allen (2009) quoted by Barringer et al (2005) stress that only one in seven firms generate sustained and profitable growth which implies that the categories identified above must also contribute to the competencies seen as necessary to create sustainable competitive