Setting up financial and administrative system and process in start-up in today’s environment: Next gen case study

Abstract

Startups are fundamentally different from mature organizations. The key success factors, the resource availability and the growth rates for startups vary a lot from mature organizations. This calls for a different strategy and a different mindset to run and grow a startup. Though the fundamental basis of success or failure of a startup is the strength of the product or service offered, there are many other factors that play an important role in the scale and speed of growth. Through this CCS the fundamental differences between a startup and a mature organization were studied. To identify the distinguishing factors between a successful and a failed startup literature survey and interviews were done with both successful and not so successful entrepreneurs.