The Life Cycle of Entrepreneurial Organisations

The life cycle of entrepreneurial organisations:

A) poses different management challenges at each stage.
B) requires different management competencies at each stage.
C) requires entrepreneurs to deal with the issue of managerial succession at each stage by changing and/or refining his/her skills, passing management control on to professionals, or selling the business.
D) All of the options listed
E) None of the options listed