QCAA Unit 2 Topic 2 Revision

Jackson's startup is in the growth stage. Which of the following is a characteristic of this stage?

• Declining customer base

• Consistently generating revenue

• Reducing the number of employees

• Decreasing market presence

During the growth stage, a business like Avery's startup may focus on:

• Reducing its product line

• Establishing its presence in the industry or growing into new markets

• Decreasing its customer base

• Cutting down on new ideas

James is managing a business in the growth stage. What is one of the actions he might take?

• Lay off employees

• Refine products/services, develop new ideas, or acquire another business

• Close down branches

• Reduce marketing efforts

Charlotte and Aria are analyzing the growth stage of their startup. Which of the following is NOT a characteristic of the growth stage?

• Growing customer base

• Creation of new organizational structure

• Consistently generating revenue

• Declining market share

James and Scarlett are running a startup and are considering hiring extra employees. This is a characteristic of which business stage?

• Decline stage

• Introduction stage

• Growth stage

• Maturity stage

Priya is managing a startup that is rapidly growing. Which of the following is a challenge she might face during this growth stage?

• Getting comfortable

• Lack of initial funding

• Finding a business idea

• Building a prototype

Samuel and Anika are considering expanding their startup rapidly. What is a potential risk of overextending a business during its growth stage?

• Increased market share

• Improved customer satisfaction

• Financial strain

• Enhanced brand loyalty

Why might neglecting existing customers for new customers in new markets be a challenge during the growth stage for a company like Evelyn's startup?

• It can lead to increased profits

• It can result in losing loyal customers

• It can reduce marketing costs

• It can improve product quality

Abigail and Oliver are running a startup. What is a common challenge related to competition during the growth stage of their business?

• New competitors entering the market

• Lack of competitors

• Competitors going out of business

• Competitors merging with the business

What challenge might a founder like Grace face when delegating tasks during the growth stage?

• Increased personal workload

• Loss of control over certain aspects of the business

• Decreased business opportunities

• Reduced employee engagement