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GENICON: Keep Growing or Sell the Company?
內容大綱
The chief executive officer (CEO) of GENICON is at a crossroads. The private medical device manufacturing business he started over 15 years ago has several acquisition offers as the industry starts to consolidate ahead of changes to the U.S. healthcare system. He can sell it now and make millions for himself and his investors or he can grow the business for a couple more years and, assuming a constant multiple of acquisition price to revenue, make millions more since his business is in fact growing. However, the business needs capital to grow and the CEO does not want to take on more debt. Should he sell the whole company and start his next venture? Or sell it and continue to help the acquirer grow the business? Or sell a part of the company and lose some autonomy and control? The CEO knows he is in a fortunate position but he still has to make a decision and soon.
學習目標
This case is appropriate for use in a general entrepreneurship course or more advanced entrepreneurial finance and accounting courses. It could also be used in a business strategy course. It provides students an opportunity to understand what decisions a founder must make when things are going well.<ul><li>Allows students to get inside the mind of the entrepreneurial founder of a former startup that has accomplished many of its early goals.</li><li>Encourages students to discuss qualitative decision-making on issues where there is limited if any meaningful data.</li><li>Provides an illustrative example of a company that is achieving success in terms of revenue, attracting equity investment and using available credit, but still struggling to grow.</li></ul>