Business Development: A Life Cycle Approach
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The life cycle of business development refers to the stages a business goes through from its inception to its closure or transformation. It typically includes five phases, namely, startup, growth, maturity, decline, and renewal or exit. During the startup phase, a business develops its product or service and seeks initial funding. In the growth phase, it expands its market reach and increases revenue. The maturity phase is characterized by stable sales and market saturation. The decline phase may occur due to market saturation, increased competition, or changing consumer preferences, leading t...
The life cycle of business development refers to the stages a business goes through from its inception to its closure or transformation. It typically includes five phases, namely, startup, growth, maturity, decline, and renewal or exit. During the startup phase, a business develops its product or service and seeks initial funding. In the growth phase, it expands its market reach and increases revenue. The maturity phase is characterized by stable sales and market saturation. The decline phase may occur due to market saturation, increased competition, or changing consumer preferences, leading to decreased profits. Finally, the renewal or exit phase involves reinvigorating the business through innovation and diversification or exiting the market through selling, merging, or closing the business. Each stage presents unique challenges and opportunities, requiring strategic planning and management to ensure long-term success. This book aims to shed light on some of the unexplored aspects of business development cycle and the recent researches in this field. It presents researches and studies performed by experts across the globe. This book, with its detailed analyses and data, will prove immensely beneficial to professionals and students involved in this area at various levels.
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