Business Life Cycle Stages
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Questions and Answers

What is the initial stage of the business life cycle?

  • Maturity Phase
  • Growth Phase
  • Decline Phase
  • Startup Phase (correct)

    • Which phase of the business life cycle involves rapid expansion?

  • Turnaround or Renewal Phase
  • Decline Phase
  • Maturity Phase
  • Growth Phase (correct)

    • What happens during the maturity phase of the business life cycle?

  • Rapid expansion
  • Introduction of new products or services
  • Stable growth and market penetration (correct)
  • Decline in sales and revenue

    • What is the characteristic of the decline phase in the business life cycle?

    <p>Decline in sales, revenue, and market relevance</p> Signup and view all the answers

    Which phase of the business life cycle involves revitalizing strategies like restructuring operations?

    <p>Turnaround or Renewal Phase</p> Signup and view all the answers

    What is the main focus of startups in the business life cycle?

    <p>Securing initial funding</p> Signup and view all the answers

    During which phase does a business need to invest in marketing and infrastructure?

    <p>Growth Phase</p> Signup and view all the answers

    What could lead to a decline in sales during the decline phase of the business life cycle?

    <p>Changes in consumer preferences</p> Signup and view all the answers

    In which phase do businesses typically hire more employees?

    <p>Decline Phase</p> Signup and view all the answers

    What is done by entrepreneurs during the startup phase of a business?

    <p>Conducting market research and creating a business plan</p> Signup and view all the answers

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