IA1 Business 2022

Maturity Stage: After expansion or consistent growth during the establishment state, the business should be at the ___ of its industry.

The maturity stage is generally the _______ that the business will experience.

Domestic market is defined as...

• The supply of, and demand for, goods and services within a single country, also referred to as the internal market.

• The process of extending manufacturing or trade operations to other parts of the world beyond the home country of a business.

Maturity Stage: The business _______ still be experiencing growth but not at the same rate as during the growth stage.

• may

• may not

The challenges of the maturity stage are...

(can be more than one answer)

• Major challenges include  environmental factors (internal, external and macro) and changes in the economy, society or market conditions.

• Emerging technologies and innovations in the industry can impact

• Increasing competition

• No profits

Strategies for the maturity stage may include...

(could be more than one answer)

• Ensure business is running efficiently in all areas.

• Consider outsourcing

• Consider adjusting supplier chains to reduce operational costs

________ growth is the adaptation of business products and services to increase sales revenue from the existing market.  

Global market is defined as...

• The supply of, and demand for, goods and services within a single country, also referred to as the internal market.

• The process of extending manufacturing or trade operations to other parts of the world beyond the home country of a business.

Strategies for expansion

(could be more than one answer)

• Innovation

• Emerging Technologies

• Developing a niche market

• Research & Development (R&D)

• Employer of Choice

An exclusive license is

• Most common form of license that allows an Australian business to commercialise its IP and sell it to new domestic and international markets. Also called a Sole License, it generally means that the licensee is given the rights to use the IP of the brand to the exclusion of all others.

• Even though the licensee has been given the right to use the intellectual property in a market, they may not be the only licensee.

• Applies to computer software specifying that the source code of the software is freely available so that other software developers can develop their own software on it.