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- 1. Multiple Choice
Rapid increase in sales, cash flow problems, competitors attracted to the market is characteristic of which stage of the business life cycle?
Start-up
Growth
Maturity
Post-maturity
Seed
- 2. Multiple Choice
Slow and erratic sales, constant cash outflow and lack of established customer base is characteristic of which stage of the business life cycle?
Growth
Start-up
Maturity
Post-maturity
Seed
- 3. Multiple Choice
The business may be in a steady state, renewal or decline of the business life cycle.
Growth
Maturity
Start-up
Post-Maturity
Seed
- 4. Multiple Choice
The owners must decide whether to reignite growth, sell or close the business during this stage.
Start-up
Growth
Maturity
Post-Maturity
Seed
- 5. Multiple Choice
Some growth may still occur but not at the same rate as previously
Maturity
Post Maturity
Establishment
Growth
- 6. Multiple Choice
Challenges include new competitors, not getting too comfortable in the market and giving control over to reliable staff.
Growth
Post-maturity
Maturity
Start-up
Seed
- 7. Multiple Choice
Sales level off, market for product is saturated, focus on remaining competitive is characteristic of which stage of the business life cycle?
Start-up
Growth
Maturity
Post-maturity
Seed
- 8. Multiple Choice
Falling sales and loss of market share is characteristic of which stage of the business life cycle?
Start-up
Growth
Maturity
Post-Maturity
Seed
- 9. Multiple Choice
The form of business cessation for sole traders and partnerships is
administration
bankruptcy
cessationarisation
liquidation
- 10. Multiple Choice
This occurs when an independent administrator is appointed to operate the business in the hope of trading out of the present financial problems
Voluntary bankruptcy
Voluntary liquidation
Voluntary administration
Voluntary realisation
- 11. Multiple Choice
Which of the following is not a stage in the business life cycle?
Growth
Seed
Expansion
Post-Maturity
- 12. Multiple Choice
Which stage is described as the following?
The business idea is still an idea/concept.
seed
start-up
growth
maturity
- 13. Multiple Choice
Select all of the following that are examples of challenges in the seed stage?
gaining market acceptance of business idea
capability and time constraints
entrepreneurial skills
financial costs
- 14. Multiple Choice
TRUE or FALSE
Writing a business plan is a critical component of the seed stage.
TRUE
FALSE
- 15. Multiple Choice
During which stage can a business adjust its ideas in response to feedback to ensure it is effectively meeting expectations of key stakeholders.
seed
startup
maturity
post-maturity
- 16. Multiple Choice
Which stage is often referred to as the riskiest stage of the life cycle?
seed
startup
maturity
post-maturity
- 17. Multiple Choice
select any of the following that are example of challenges in the start-up stage.
establishing market presence
surviving period of time where profits are negative
exponential growth
having too many customers
- 18. Multiple Choice
TRUE of FALSE
Responding to customers in a timely fashion is not critical in the start-up phase
TRUE
FALSE
- 19. Multiple Choice
Which of the following is NOT a challenge of the growth stage?
overextending resources of the business in order to expand
new competitors
cost-cutting
deciding a re-positioning strategy
- 20. Multiple Choice
In this stage it is important that a business revisits it business plan, evaluates its goals and objectives and sets in place new financial and marketing plans.
start-up
growth
maturity
post-maturity
- 21. Multiple Choice
This stage of the business life cycle is generally the longest that a business will experience, and reflects dominating presence.
maturity
seed
growth
start-up
- 22. Multiple Choice
one of the most effective ways for a business to stay competitive in the maturity stage is to?
lay off staff
create more products
cut costs
open more business locations
- 23. Multiple Choice
select all that are challenges in the maturity stage.
creating a business idea
responding to market competition
cutting quality without compromising quality
writing a business plan
- 24. Multiple Choice
In the post-maturity stage, they business may head in one of three directions
growth, expansion, decline
decline, administration, economic downturn
renewal, expansion, decline
steady state, decline, renewal
- 25. Multiple Choice
In which stage of the business life cycle could it be necessary to bring in external professions to help analyse, evaluate or review the business?
seed
post-matuirty
maturity
growth
- 26. Multiple Choice
TRUE of FALSE
A challenge of the post-maturity stage of the life-cycle is paying debts to lenders and suppliers when business is slowing down?
TRUE
FALSE
- 27. Multiple Choice
How many stages are there in the business life cycle?
3
5
7
4
- 28. Multiple Choice
The business life-cycle is a _____________ of the series of stages that can be applied to the ____________ of activity that a business conducts.
overview, types
representation, duration
overview, duration
representation, types
- 29. Multiple Choice
TRUE or FALSE
Not all businesses will experience every stage of the business life cycle or experiences each of the challenges in the say way.
TRUE
FALSE
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