INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Pre Start-up, Start-up, Growth, Maturity, and Rebirth or Decline
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Inception, Expansion, Diversification, Stabilization, and Exit
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Conceptualization, Development, Implementation, Monitoring, and Evaluation
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Planning, Marketing, Operations, Accounting, and Finance
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Detailed explanation-1: -Whether you are a new business owner or have run your small business for years, it is wise to familiarize yourself with the five cycles of change: startup, growth, maturity, transition and succession.
Detailed explanation-2: -The five stages are Existence, Survival, Success, Take-off, and Resource Maturity. Not all businesses go through every stage, but depending on your level of ambition it’s a quick read that may help you recognize where you are and how to get to the next level.
Detailed explanation-3: -Most experts believe there are four principal stages of business growth-startup, growth, maturity, and renewal or decline. However, some businesses may experience additional stages of growth, such as a shake-up or market introduction.