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The focus of this business report is to show my understanding of the phases of the business life cycle. The main discussion is of the four phases in the life cycle and a second discussion

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Introduction

Ben Hura Business report Executive summary The focus of this business report is to show my understanding of the phases of the business life cycle. The main discussion is of the four phases in the life cycle and a second discussion of the continuation phases of post maturity. The main four phases are the: 1. The Establishment phase 2. The Growth phase 3. Maturity phase 4. Post maturity phase It is recommended that all businesses take advantage of the business phase life cycle chart or diagram as it is valuable for showing how the business is going. Establishment Growth Maturity Post-Maturity Renewal Steady State Decline Cessation Figure 1 is known as a Business Life Cycle Chart and illustrates the four phases of the business life cycle 1. The Establishment phase This phase is when the business is set up. A main goal during this time is to set a firm foundation for future growth and get the product out there for the retailers to see. ...read more.

Middle

The Establishment phase can be seen on the graph as the first section. You can see that the sales are increasing during this phase as time goes on. 2. The Growth Phase This phase is known for sales increasing and profit finally coming in. The goals in this phase include: * Increase the average level of sales * To grow through mergers and takeovers * To diversify business activities Sales are rapidly increased during this stage as customer loyalty is shown. As the owner gets a feel for the market they introduce new products and take the slower selling products off the shelf. As the money comes in the owner begins to spend more and more on the advertising side which results in a greater customer range. The main costs during this phase seem to be advertising. A lot of capital is coming in but it must be maintained if the business wants to survive. ...read more.

Conclusion

A nice change to the packaging can renew your place in the market. 4. The Post-Maturity Often during the post-maturity phase, the business sales are going down. But the managers try there best to renew the business. Business renewal is need to continue in a steady state or even into renewal. The main goal during this period is to avoid cessation. There are four possible routes during post maturity. These paths are: * Renewal- when the business changes and sales begin to go up again. * Steady state- when the business changes but the sales do not rise or fall * Decline- when the business leaves it to late to change but doesn't stop selling products. * Cessation- where the business does not change but the sales go down until there is little or no sales. Conclusion My conclusion is that a business is a very risky thing to set up, but with help from things like business reports, business plans and the business life cycle chart. ...read more.

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