Stages of the Business Life Cycle
When a business is either entering new markets or establishing its presence in an existing market
Growth stage
The two business ownership structures that owners have unlimited liability
Sole trader and partnerships
This factor refers to fair trade and sustainability
Macro - Ethical
The leaders in charges of the business
Owners/managers
Activities of this function include:
- investment control and evaluation
- accounting information systems
- allocating financial resources
Finance
When the business may be at the top if its industry and generally the longest stage of the life cycle
Maturity
A business that is formed to provide goods, services or funds to a particular concern or benefit a community.
Not-for-profit
This factor refers to trade regulations based on government policy
Macro - political
The people working for the owners/managers
Employees
This function is responsible for determining consumer buying habits and researching trends.
Marketing
The riskiest stage of the business life cycle
The start-up
What is the structure of a business with 'Pty Ltd' at the end
Private company
This factor refers to professional associations and trade unions
The hierarchy of an organisation
Organisational structure
This function involves utilising resources from materials, equipment and technology to acquire, develop and deliver goods and services.
Operations
A challenge of this stage is the capital, energy and time required to develop the idea/product
Seed stage
What does GBE stand for?
Government Business Enterprise
This factor refers to the changes in consumer confidence
Macro - economics
Organisational culture
This function deals with acquiring and maintaining a business' workforce.
Human resources (HR)
The post-maturity stage
What is the structure of a business with 'Ltd' at the end
Public company
Examples of this factor include:
-an ageing population, changes in trends and higher education levels
Macro - Socio-cultural factors
What factor is this an example of: At Netflix, all employees can participate actively in important decision-making processes. There are no inhibiting rules, and staff members can communicate freely and directly. Netflix chooses employees based on integrity, teamwork, passion, humility, innovation, and selflessness.
Organisational cultures (positive)
Employee related legislation and regulations
Human resources