Post-Maturity Stage
What stage comes after business growth and involves steady state or decline?
Post-maturity stage
What is repositioning in business?
Changing a business’s position in the market to remain competitive
What is steady state?
A period where sales and profits stabilise
What force refers to the strength of suppliers?
Supplier power
What HR strategy involves upskilling employees?
Retraining and development
What is a key characteristic of a declining business?
Falling sales and profits
What is rebranding?
Changing brand image (name, logo, identity)
What is one exit option for a declining business?
Liquidation or administration
What force measures competition within an industry?
Competitive rivalry
What strategy involves laying off staff?
Redundancy
What happens to sales in steady state?
Sales remain stable
How is repositioning different from rebranding?
Repositioning changes market strategy; rebranding changes brand identity
What is voluntary administration?
A process where a business seeks help to manage debt
What force is about how easy it is for new firms to enter?
Threat of entry
What is retraining used for?
To adapt employees to new strategies
What is a typical challenge in the post-maturity stage?
Increased competition or reduced demand
Name one influence on repositioning (e.g. CSR or sustainability)
Sustainability, CSR, PR, mergers, acquisitions, crisis management
What is involuntary administration?
Forced financial control due to insolvency
What force relates to customers switching products?
Threat of substitution
How do operations support repositioning?
By improving efficiency and adapting processes
What happens to profit margins in decline stage?
Profit margins decrease or become negative
Why would a company reposition instead of exit?
To extend the life cycle and regain competitiveness
Name one outcome besides closure for declining businesses
Mergers, acquisitions, or recovery
List all five Porter’s forces
Supplier power; Buyer power; Competitive rivalry; Threat of entry; Threat of substitution
How does technology affect business functions?
Enables innovation, automation, and efficiency