Start-up - vulnerable to failure and income
is tight. The manager is often short of
capital and know-how but possesses
lots of enthusiasm.
Growth - The manager's skills develop.
However, lack of capital may limit
growth during this period.
Maturity - During the maturity stage the
manager has reached full
employment and
the size of the business
stabilizes. Good
profits and excess capital.
Decline - During this period the manager
begins to wind-down the business.
Rather than making new investments,
the manager utilizes current
machinery and facilities until retirement