Question
Place the stages of the business life cycle in the correct order. Move all of the stages to the answer area and place them in the correct order. Note: You will receive partial credit for each correct answer. 0000 Maturity Stage 1. Take-off Success Stage 2. Existence Stage 3. Sign out of the Fittest Stage 4.
Answer
3.5
(227 Votes)
Zach
Professional · Tutor for 6 years
Answer
1. Existence2. Survival of the Fittest3. Take-off4. Success5. Maturity
Explanation
The business life cycle is a concept that describes the progression of stages a business goes through from its inception to its eventual closure or transformation. The stages typically include the initial phase where the business is established, a growth phase where the business expands, a maturity phase where growth stabilizes, and a possible decline phase where the business may shrink or cease operations. The stages provided in the question are not in the correct order. Let's place them in the correct sequence:1. **Existence**: This is the first stage where the business is just starting out. The focus is on establishing the business and finding the first customers.2. **Survival of the Fittest**: Once the business has established its existence, it enters the survival stage. Here, the business works on becoming viable and sustainable, often facing challenges related to cash flow and market acceptance.3. **Take-off**: In this stage, the business experiences rapid growth. It's a critical period where the business needs to scale operations to meet increasing demand while managing resources effectively.4. **Success**: At this point, the business has a stable customer base and consistent profitability. The business may choose to diversify or continue to optimize its successful operations.5. **Maturity**: The final stage is where the business has reached a peak in its growth and must innovate or diversify to maintain its market position. Growth is no longer rapid, and strategies may shift towards maintaining market share and exploring new opportunities.