03.03.09 Business Life Cycle 09 intro

03.03.09 Business Life Cycle 09 intro - Business life cycle...

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1. List the stages in the human life cycle. 2. Read Biz Fact p25 and identify some of the reasons why many small business owners are content to keep their businesses the same from year to year Many small business owners, such as local corner store operator, mechanic, hairdresser or dentists, are often satisfied to keep their businesses the same from year to year. They have no desire to expand. Such businesses have usually been established for a long period of time, sometimes being owned by second or third generation members of the family. These owners are content with their lifestyle and see further expansion as a cause of concern and worry Activity: 3. Use the following template to draw a diagram of the business life cycle. Using the terms listed below, label the diagram. Use an arrow or text boxes to connect each term to the corresponding part of the diagram. Growth Decline Low sales Sales Time Business life cycle phases of the cycle establishment growth maturity post-maturity challenges presented at each stage of business life cycle voluntary and involuntary cessation
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Financial difficulty Maintains market share Renewal Greater competition Increased marketing Steady state Falling sales Increased profitability Strong consumer loyalty
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This note was uploaded on 08/11/2009 for the course BUSINESS - taught by Professor - during the Summer '09 term at École Normale Supérieure.

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03.03.09 Business Life Cycle 09 intro - Business life cycle...

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