ESB Business Cycle & Design Process

Multiple Choice

Choose the correct Business Life Cycle Stages in order from beginning

• Existence, Survival of the Fittest, Success, Takeoff, Maturity

• Takeoff, Maturity, Survival of the Fittest, Existence

• Existence, Success, Takeoff, Survival of the Fittest, Maturity

• Takeoff, Existence, Maturity, Success, Survival of the Fittest

Opening business

slow start

may see a steady increase in business

seeking investors

finalizing business plans

making business connections

Existence/

Launch

2nd stage

Seeing growth

Able to pay back loans

Passing the break even point and turning a profit

A longer stage due to profitably

​​Survival or Growth Stage

3rd stage

Using profits/resources to establish company in marketplace

Increase recruiting/hire more people (executive suite)

Develop new products or services

​​Success Stage

4th stage

Rapid growth?

Possible public financing

Time to decide on whether or not to grow or expand company

More rounds of investing?

Possible time to sell

Take - Off Stage

5th stage

Business owner separated financially and operationally from business

Making more major decisions

​​Maturity Stage

6th stage

May see a change in sales in existing market

Major decisions ahead

Adjust business model (pivot)

Persist through market changes

Pivot/Persist Stage

7th stage

Could see a decline in sales or market share

Owner decides if selling is an option

Entrepreneurs may look to their next opportunity

Exit Plan

Multiple Choice

Match the stage of the Business Life Cycle:

COMPANY IS NOW STABLE AND PROFITABLE

• Success

• Takeoff

• Maturity

• Existence

Multiple Choice

Match the stage of the Business Life Cycle:

Expansion strategies are implemented, and investment is balanced with potential

• Success

• Takeoff

• Maturity

• Existence

Multiple Choice

Match the stage of the Business Life Cycle:

Focus shifts to revenue, expenses and growth. Cashflow is the major issue

• Survival of the Fittest

• Takeoff

• Maturity

• Existence

Multiple Choice

Match the stage of the Business Life Cycle:

The business is separate from the owner with responsibilities delegated to staff. A business in this stage usually commands a considerable share of the market and may even be a household name

• Survival of the Fittest

• Takeoff

• Maturity

• Existence

​Design Thinking Process

Multiple Choice

Which phase of the Design Process will :

State your users' needs and problems

• Empathize

• Define

• Ideate

• Prototype

• Test

Multiple Choice

Which phase of the Design Process will :

Challenge Assumptions and create ideas

• Empathize

• Define

• Ideate

• Prototype

• Test

Multiple Choice

Which phase of the Design Process will :

Try your solutions

• Empathize

• Define

• Ideate

• Prototype

• Test

Multiple Choice

Which phase of the Design Process will :

Create solutions

• Empathize

• Define

• Ideate

• Prototype

• Test

Multiple Choice

Which phase of the Design Process will :

research your users' needs

• Empathize

• Define

• Ideate

• Prototype

• Test