IA1 Business 2022

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

The maturity stage is generally the (a)   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

(a)   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.