Sample Essay

The life cycle development is basically the life cycle of your business cycle and how would the business perform throughout the years. A business goes through different stages of development which is quite similar to the human race. The parenting strategies that are applied to a toddler cannot be applied to an adult. The life cycle development changes with time and that is the reason why there are certain stages in the product life cycle. These stages are discussed below:

  • Seed Stage: The seed stage is considered as the stage when the business is just though as an idea and only idea revolves in the minds of the entrepreneur.
  • Start-up stage: The business is incorporated and at this stage and it exists legally at this stage. The production cycle of the business is started and organizations have their first customers.
  • Growth stage: At this stage the business is experiencing its toddler years and the opportunities of the company are increasing because the customer base of the business is also expanding.
  • Established stage: The business is growing at a rapid pace and it’s established now. The organization is quote matured and the growth of the business is not explosive but is it manageable.
  • Expansion stage: The business now experiences an expansion stage and in this stage the business tries to expand its market share through different novel channels.
  • Decline stage: The changes in the economy can decrease the sales of the business and small companies in this stage can quickly move out of the competition and they would adapt a divestiture strategy.
  • Exit stage: This is considered merely as the final stage of organizations and organizations have the chance either they can waste years of hard work or can exit or they would opt for a change management strategy and would revamp the organization (Judge & Robbins, 2008).

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