ited Kingdom) Micro Tiles Limited Case 1: Look Before You Leap In June of 2014, Bill Madden considered expanding his micro tiles business. He planned to invest $2.0 million in 2016 to produce more and better quality plaster or metal tiles and lithographs. These silver and golden omate tiles can be hanged individually or displayed as a collection of various themes (i.e., sports, outdoors, wildlife, music, actors, religion) on living, dining, bedrooms or family room walls. Although Bill had ten years of experience as an artist in designing and developing these products, he had little experience in managing a business. He realized that this was his greatest weakness and was preventing his business from growing to its full potential. He therefore asked his son, Robert, who had graduated in engineering and held a masters degree in business administration, to join his firm. Robert had six years of experience with a major consumer products company. Management's Background Prior to starting his business, Bill Madden had worked for twenty-five years in communications services for several federal govemment departments. When he took an early retirement in 2003 at the age of 50, he decided to realize his dream of starting his own business. At the time of incorporation in 2008, sales began to accelerate and the company moved from a hobby business to a full-time operating entity. That year, he decided to move the operating facilities from the basement of his house to a small space that he rented in an industrial park. Bill enjoyed the artistic side of the business. He liked to draw images. His friend, Harry Freeman, also a former federal public servant joined him in 2008. He responsible for sales and general administration.