Seed Stage
What is the main goal of a business in the seed stage?
To test and refine the idea
Mark Zuckerberg launched this famous social media from his dorm room
This company expanded from selling books online to selling almost everything
Amazon
This popular cola drink is found all over the world and has been around for over a century
Coca-Cola
After dominating video rentals, this company did not keep up and closed almost every store
Blockbuster
This giant tech business started as an idea in a garage by Steve Jobs and Steve Wozniak.
Apple
Fast food giant McDonald’s opened its first restaurant in 1948, in this country
USA
Hungry Jack’s grew fast in Australia by opening new stores. Hungry Jack’s sells this type of food.
burgers/fast food
This fast food chain is everywhere and now focuses on making its menu healthier.
McDonalds
This phone company was a world leader until Apple and Android took over and it declined.
Nokia
The world’s biggest search engine began as a university project called “Backrub.”
Businesses in this stage are most focused on getting their first paying _______
Customers
In the growth stage, companies start hiring more of these
Employees
Businesses at maturity try to keep their ________ the same or growing, instead of shrinking.
Profits/Sales
Successful businesses at this stage often try to invent new products or change to a new market. What is this called?
Renewal
This Australian company started after seeing a need for cheaper flights and grew into a holiday package website
Webjet
This big streaming company began by mailing DVDs to customers before moving to online streaming
Netflix
After launching the iPhone, Apple faced a big challenge in the growth phase: how to keep up with huge demand without letting these drop. What are these?
product quality or customer satisfaction
Woolworths and Coles use loyalty programs and updated product ranges while in maturity. What’s the main reason they do this, given the high competition?
keep/retain customers and maintain market share
Some older brands in post-maturity, like Lego or Nintendo, have survived by doing what with their products?
updating/innovating
At the seed stage, businesses work on testing their ________ before launching
Idea
The main worry for businesses in the start-up phase is running out of this
Cash/Money
Tesla faced tough decisions when growing quickly. If a business grows too fast without enough planning, it might run out of this and be forced to slow down.
resources or cash/production capacity
In maturity, companies like Coca-Cola sometimes acquire smaller brands like Kombucha drink makers. What’s a key benefit of this strategy for a mature business?
diversify or enter new markets
If a business keeps losing money at this stage, it might have to do this
Close down