For instance the abc components corporation should

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with the profits it is getting rather it should invest in other geographies. For instance, the ABC Components Corporation should invest in other technologies or partner with other business to boost its growth. Stage 5: Decline Many factors lead to business closure. Those factors include poor management, changes in the business or government regulations ( Stark, 2015). For ABC Components Corporation to remain competitive in the market, it should have a good control that makes right decisions to enable growth of the company. The company should also diversify its products and innovate them to outshine the competitors and create loyalty to the customers.
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4 BUSINESS DEVELOPMENT References Schmiedel, T., Vom Brocke, J., & Recker, J. (2014). Development and validation of an instrument to measure organizational cultures’ support of Business Process Management. Information & Management , 51 (1), 43-56. Smyth, H. (2014). Market management and project business development . Routledge. Stark, J. (2015). Product lifecycle management. In Product Lifecycle Management (Volume 1) (pp. 1-29). Springer International Publishing.
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