Business Life Cycle
The first stage in the Business Life Cycle.
What is the seed stage of the BLC?
The most important internal factor.
What are employees?
Factors out of the control of the business.
What are external environmental factors?
Socio-cultural factors.
What is the S in STEEPLE?
Overarching inspirational statement.
What is the vision statement of a business?
An option in the post maturity stage that ends the business.
What is cessation?
They give the business leadership and direction.
What are managers and owners?
An external factor crucial to the business' success.
What are customers?
Climate change.
What is an example of an environmental factor?
Sole trader, partnership, private company and public company.
What are the legal structures of businesses in Australia?
When a business expands demographically or geographically the most.
What is the growth stage of the BLC?
The features that determine how a business operates on a day-to-day basis.
What is organisational structure.
An external factor that could be called a 'rival'.
What are competitors?
Increasing GST.
What is an example of an economic factor?
A tool used to set clear goals for a business.
What is strategic planning?
When the business starts trading or operating.
What is the start-up stage of the BLC?
The way the business makes people 'feel'.
What is organisational culture?
An external factor that the business relies on for materials to make their product or provide their service.
What are suppliers.
Food safety Regulations.
What is an example of a legal factor?
How a business compares to others in the industry and how much market share they have.
What is competitiveness?
When a business is at its peak in the industry.
What is the maturity stage of the BLC?
Factors that can be controlled by the business.
What are internal environmental factors?
Stakeholders that can influence the business and how it operates, for example unions.
What are interest groups?
What is seen to be right or 'good' behaviour.
What are ethical factors?
Profitability, market share, employment, societal wants & needs, sustainability and growth.
What are the goals of business?