Question
Mike is the owner of a doggy daycare and grooming business. The business is economically healthy, and he is looking for ways to finance future growth. I which business life cycle stage is Mike? 0000 Success Existence Take-off Survival
Answer
3.6
(275 Votes)
Lionel
Master · Tutor for 5 years
Answer
Success
Explanation
Business Life Cycle Stage refers to the theory of businesses developing through series of stages over time. These four options given in the question, essentially refer to different stages in the business life cycle. "Success" occurs after a company has established a sturdy brand and solid customer base. “Existence” is quoted as the moment a company is founded and takes on its initial risks. "Take-off” is a stage that leads rapid growth potentially leading to mounting issues which the company must manage. "Survival" is primarily when a company has proved that it can survive and commonly realizes its first initial profitable sales. In the case presented in this question, Mike's business is financially stable and he now wishes to leverage measures to finance future growth. Hence, we can deduce that Mike's business has already passed the stages of existence and survival, it has moved beyond the emergence state and it is rigorously enabling his business to experience accelerated growth. So, based on the narrative we can infer that he comes under the "Success" stage in the Business Life Cycle.