What Can Be Learned from the Small Business Life Cycle...

What can be learned from The Small Business Life Cycle Model 2005 Table of Contents ol li value=1 Abstract li value=2 Introduction li value=3 Body li value=31 Pioneer phase /ol 3.1.1 Characteristics 3.1.2 Crisis 3.2 Functional phase 3.2.1 Characteristics ol li value=32.2 Key challenges li value=32.3 Crisis li value=33 Integrated phase li value=33.1 Characteristics li value=33.2 Limitations li value=34 Associated phase li value=34.1 Characteristics li value=5 Conclusion li value=4 References li value=5 Appendix li value=51 Figure 1 /ol Abstract Each company has to start from the small business unit with a group†¦show more content†¦Using small business lifecycle model allows the best innovators to achieve twice the sales from the new product and turn creatively into a system for impact by running business not in the traditional way. Conclusion Small business is based on the innovation. It proposes new solutions, new products and new services. Life cycle planning is very essential for development and growth of the small business. Planning of the life span of the business can set a basis for the next stage of development and gradual growth into medium and large size organization. Each stage of the four discussed has its own characteristics and crisis which need to be dealt with. There is much to learn from the small business life cycle model: how to remain a group of people who share common mission and goals and not to grow into a company where people are treated as a set of competences. What can be learned from The Small Business Life Cycle Model Small businesses thrive on innovation and are known as innovation engines of the economy. However, the success rate of the new product development in the small business is typically less than 10 percent. The success of the launched product is often less than 50 percent. 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