Explain the difference between internal and external growth ...

[JGIBBSON]

Explain the difference between internal and external growth strategies. Provide examples of each.
 
  What will be an ideal response?

Question 2

According to the textbook, many entrepreneurs go about the task of raising capital haphazardly because they ________.
 
  A) are uncomfortable talking about money and they haven't written a business plan
  B) lack experience in this area and because they don't know much about their choices
  C) are focused on the nuts and bolts of starting their business
  D) haven't completed a feasibility analysis or business plan
  E) are intimidated by the process and they are unsure of how much money they need

[brittanywood]

Answer to Question 1

Internal growth strategies rely on efforts generated within the firm itself, such as new product development, other product-related strategies, and international expansion. External growth strategies rely on establishing relationships with third parties, such as mergers, acquisitions, strategic alliances, joint ventures, licensing, and franchising.

Answer to Question 2

B