BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Start-up
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Growth
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Maturity
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Post-maturity
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Detailed explanation-1: -Challenges during the maturity phase include continued competition, uncertainty about adding new products or services, and questions about how to develop an appropriate exit strategy for your business.
Detailed explanation-2: -The maturity stage is when the sales begin to level off from the rapid growth period. At this point, companies begin to reduce their prices so they can stay competitive amongst the growing competition.
Detailed explanation-3: -The post-maturity phase is the final stage of the business life cycle. Typically, the business has failed to respond to increased competition and is haemorrhaging market share. This phase is characterised by falling sales and loss of market share. The business soon becomes unprofitable and cash flow problems emerge.
Detailed explanation-4: -A product life cycle is a management tool that evaluates a product’s journey from development to withdrawal from the market. As mentioned earlier, it includes four stages-introduction, growth, maturity, and decline.