What is the seed stage in the business life cycle?

• The stage where the business starts to make a profit.

• The very beginning of the business life cycle, when the business is just a thought or an idea.

• The stage where the business expands into new markets.

• The stage where the business is sold or transferred to new owners.

What activities typically occur during the seed stage of a business?

• The business is formally established and begins operations.

• Initial testing, research into the industry, and feedback from friends, family, or other industry specialists help to develop and refine the idea.

• The business develops its initial marketing strategy and sales channels.

• The business secures its first round of major funding from venture capitalists.

What is determined during the seed stage of a business idea?

• The final product design and pricing.

• The target customer demographics and preferences.

• The viability of the business idea.

• The total market size and potential revenue.

Who are identified and engaged during the seed stage of a business?

• Potential investors and venture capitalists.

• Competitors and regulatory agencies.

• Key stakeholders.

• Customers and suppliers.

What happens once the viability of a business idea is established in the start-up stage?

• The business discontinues its operations.

• The business idea is abandoned.

• A clear business plan is developed and a legal structure is put in place.

• The business reduces its product or service offerings.

What is developed into products or services that the business is ready to market and sell during the start-up stage?

• The business structure

• The marketing strategy

• The business idea

• The customer feedback

During the start-up stage, how might a business adjust its idea?

• By ignoring feedback and focusing on initial plans

• In response to feedback to meet the expectations of key stakeholders

• By following a predetermined path without changes

• By ceasing to take into account the needs of the market

What occurs during the start-up stage regarding the business's operations and workforce?

• The business idea is conceptualized, and a team is brainstormed.

• The business plan is written, and investors are sought.

• The business is established, commences trading, and employees are hired and trained if needed.

• The business scales down its operations and reduces its workforce.

What is the growth stage of a business described as?

• The decline of a business into a less competitive state.

• The movement of a business into either an established state or an expansion state.

• The initial phase where a business starts its operations.

• The period when a business is preparing to exit the market.

During the growth stage, what is a business expected to do?

• Decrease its product or service offerings.

• Innovate and refine its products or services for sustained growth.

• Focus solely on cost-cutting measures.

• Discontinue exploring new markets.