Case Notes/Answers
Team and Concepts Ltd. Managing the Growth of a
Small Business, by Ali Farhoomand, Mary Ho
Discussion Questions:
1. What characteristics are typical of entrepreneurs? How would you differentiate between a small
business owner and an entrepreneur? What type of entrepreneurial traits did TnC’s owners
demonstrate?
2. At which stage in the life cycle of venture development would you put TnC? What strategies do
you recommend for its sustained growth?
3. What are the critical success factors of TnC?
4. What are the challenges ahead?
, HKU349
ALI FARHOOMAND
TEAM AND CONCEPTS LIMITED: MANAGING
THE GROWTH OF A SMALL BUSINESS
Teaching Note
Synopsis
Team and Concepts Limited (TnC), an IT company founded by David Lee and his partners in
2003, was not a typical small business. Its owners were innovative, business-savvy
entrepreneurs who had audacious goals at heart, and who were working daily towards the goal
of growing the business and transforming it from a fledgling set-up to a successful company.
The transformation from initial success to long-term growth required comprehensive changes
in many aspects of the business. In particular, TnC recognised the need to facilitate this
transition by enhancing its managerial, financial, marketing and R&D capacities. In 2004,
TnC was facing the challenge of working with new investors and partners, who would likely
set conditions for the business and require it to adopt new behaviours and a new management
structure. The Company was also exploring the tradeoffs between acquiring outside funds
and retaining control in order to make wise decisions about its future strategy.
Teaching Objectives
The objectives of this case are:
• To explore the differences between a small business owner and an entrepreneur and
identify characteristics that are typical of entrepreneurs;
• To illustrate how the personal attributes of an entrepreneur determine motivations and
objectives, which in turn determine the firm’s performance;
• To examine the life cycle of venture development;
• To explore strategies for a small business to sustain growth.
1
Team and Concepts Ltd. Managing the Growth of a
Small Business, by Ali Farhoomand, Mary Ho
Discussion Questions:
1. What characteristics are typical of entrepreneurs? How would you differentiate between a small
business owner and an entrepreneur? What type of entrepreneurial traits did TnC’s owners
demonstrate?
2. At which stage in the life cycle of venture development would you put TnC? What strategies do
you recommend for its sustained growth?
3. What are the critical success factors of TnC?
4. What are the challenges ahead?
, HKU349
ALI FARHOOMAND
TEAM AND CONCEPTS LIMITED: MANAGING
THE GROWTH OF A SMALL BUSINESS
Teaching Note
Synopsis
Team and Concepts Limited (TnC), an IT company founded by David Lee and his partners in
2003, was not a typical small business. Its owners were innovative, business-savvy
entrepreneurs who had audacious goals at heart, and who were working daily towards the goal
of growing the business and transforming it from a fledgling set-up to a successful company.
The transformation from initial success to long-term growth required comprehensive changes
in many aspects of the business. In particular, TnC recognised the need to facilitate this
transition by enhancing its managerial, financial, marketing and R&D capacities. In 2004,
TnC was facing the challenge of working with new investors and partners, who would likely
set conditions for the business and require it to adopt new behaviours and a new management
structure. The Company was also exploring the tradeoffs between acquiring outside funds
and retaining control in order to make wise decisions about its future strategy.
Teaching Objectives
The objectives of this case are:
• To explore the differences between a small business owner and an entrepreneur and
identify characteristics that are typical of entrepreneurs;
• To illustrate how the personal attributes of an entrepreneur determine motivations and
objectives, which in turn determine the firm’s performance;
• To examine the life cycle of venture development;
• To explore strategies for a small business to sustain growth.
1
