Business Life Cycle

Adapting to market changes

Ignoring customer feedback

Focusing only on short-term profits

Avoiding innovation

A series of stages a business goes through from inception to renewal or decline

A process of hiring employees for a business

A method of advertising products

A way to calculate business profits

Development, Start-up, Growth, Maturity, Renewal/Decline

Planning, Execution, Expansion, Contraction, Closure

Idea, Launch, Success, Failure, Restart

Research, Production, Marketing, Sales, Feedback

Make a feasibility study and present to investors

Formulate a business plan including SWOT analysis

Investigate the market

Open multiple branches

Flexibility and resourcefulness

Maximizing profits

Expanding into new markets

Reducing product lines

Regular customers and sustainable cash flow

Frequent business failures and high turnover

No competition and unlimited resources

Constantly changing business ideas

Market opportunities for new products/services

Ability to cover losses with other segments

Management's ability to deal with expansion

All of the above

Reinvest in people and technology

Ignore market trends

Reduce communication with the management team

Stop developing new ideas

Development

Growth

Maturity

Renewal/Decline