Nobody downloaded yet

The Business Lifecycle - Personal Statement Example

Comments (0) Cite this document
Summary
In the paper “The Business Lifecycle” the author realized that business is not for the faint-hearted or the lazy bones that refuse to use their God-given ability to think and come up with creative ideas. He has come to learn that every business requires some form of investment…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.5% of users find it useful
The Business Lifecycle
Read TextPreview

Extract of sample "The Business Lifecycle"

Download file to see previous pages I have been very keen on how businesses are started and what entails the whole startup process and I have found out that one of the most important issues to be tackled is the legal issues. I was thinking like there was no problem provided that the business I’m intending to start is a legal one, but to my surprise, my research has shown me otherwise. Company law, a book by CR, Datta, clearly shows that there are a lot of legal issues to be looked into before a business is allowed to operate. Some of them are the registration of the business name, application for health and sanitary permits and seeking permission for building premises to be used by the business. The business should also adhere to Acts and statutes governing what they practice. A look into the Horizon Electronics business plan also confirmed the same to me since they have clearly documented their adherence to the relevant regulations, registration, and drafting of contracts. In my research and coursework, I have also learned that a business has to undergo various stages before it is termed as mature. Charlie Gilkey in his book the business life-cycle offers an overview of stages of a business life cycle. He names them as the inspirational stage where an entrepreneur has a business idea but has not yet implemented it, the entry stage where then entrepreneur has decided to start a business and is actively building the market, the growth stage where the entrepreneurs have a business plan and are growing their revenue streams with new clients and customers, the crucible stage where the demand for goods and services outstrip the entrepreneurs ability to meet them, and finally the cruise stage where the entrepreneur has found solutions to the problems and is moving ahead (Gilkey, 2010). In my view, business requires a lot of hard work and sacrifice especially in its initial stages of development. This is because I have come to learn that there are many challenges associated with this stage of a business. One of the major challenges is that of finding a market for your output. It is a fact that without a market for the output, the core objective of doing business: making profits will not be attained. Proper market research (an organized effort to gather information about customers) should, therefore, be performed before the business is commenced. I tend to believe that it is very essential for this to be done keenly because it also gives an outline on how to market the product. Market research also provides information about the prevailing market trends in the industry and the current market prices for similar goods.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Reflective Essay Example | Topics and Well Written Essays - 1000 words - 1”, n.d.)
Retrieved from https://studentshare.org/business/1398419-reflective-essay
(Reflective Essay Example | Topics and Well Written Essays - 1000 Words - 1)
https://studentshare.org/business/1398419-reflective-essay.
“Reflective Essay Example | Topics and Well Written Essays - 1000 Words - 1”, n.d. https://studentshare.org/business/1398419-reflective-essay.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Business Lifecycle

The Lifecycle of the Orca

...Lecturer The Lifecycle of the Orca Of the major attractions to marine zoological parks are killer whales which are also referred toas the orcas. Even though these animals are referred to as whales, they are not actually whales but large dolphins (King 4). The reason as to why these animals are referred to as the killer whales is because of their tendency to kill whales for food (King 4). At the beginning, the animals were referred to as killers of whale but later the name was changed to killer whales (King 4). We chose orcas because we wanted to learn more about their lifecycle considering that the animals are among the most highly socialized animals in the world. In addition, we wanted to find out how...
7 Pages(1750 words)Essay

The Software Development Lifecycle

...will be designed to generate these reports automatically for the predefined period. CMS will be a web based application developed in Microsoft SQL Server with an interface designed in ASP DotNet and business logic implemented in C#. An estimated three month timeline is sketched out for periodic completion of various modules in predefined application development phases. System Review The review has to answer the basic question, “does the product operate the way a user would expect and produced the desired results?” (Whittaker, Jason & Jeff, 2012, p.13). The system is designed, developed and implemented with utmost care and the final review of the system is present below to evaluate the extend the implementation went...
4 Pages(1000 words)Book Report/Review

Lifecycle of a successful nightclub

...in the Marquee’s case study where Marquee succeeded where other clubs failed. Hence, there is need to understand the basics of the nightclub business and its lifecycle for enhancing a longer profitable life of a club. Body 1 The personnel of operating a nightclub as seen in the Marquee’s case study involves managers, security people, bar backs, waiters and waiters, door attendants, bartenders, and a DJ (Elberse et al., 2009). For a nightclub owner to establish a successful nightclub, it is necessary for them to try other forms of entertainment like restaurants to understand the entertainment business (Klebanow, 2007). Indeed, Tepperberg and Strauss were initially event promoters where...
5 Pages(1250 words)Research Paper

The Marketing Challenge

...of GM to be innovative, challenge, authenticate their decisions and benchmark their organization so as to create operational marketing activities and compete effectively with other competitors in the market. Strategic marketing operations equip the marketing managers with operational intelligence that assist in making tactical and strategic decisions. The report comprises of marketing audit, marketing planning and marketing mix that should be adopted by any marketing executive. Contents Executive summary 2 Marketing Audit 5 Marketing plan 7 P.E.S.TE.L ANALYSIS 11 Marketing mix- The 4Ps 11 Business lifecycle 13 B.C.G Matrix 13 Conclusion 13 Reference list 15 Introduction The increase in gas and oil...
6 Pages(1500 words)Assignment

Usability study of software lifecycle

...expressing constraints. IV. Dialog design: Using a Stock control application system as case study, it is seen that dialog design should support task flow. A dialog flow is the mechanism that is used to control or manage task flow. This chapter also highlights the dialog notation which provides an effective technique for communication with end user’s and designers. By using tools such as data rules, supporting the process rules, and supporting the business rules various problems encountered in the use of the stock control applications are easily resolved. The case study shows that dialog needs to support data integrity, process flow and business rules. Dialog design examines practical implementation...
8 Pages(2000 words)Essay

Management or management function

...in a manner to achieve the predefined objectives of the company. Planning is necessary throughout the business lifecycle because it evaluates the current condition of the organization’s performance and checks the credibility of the current plan. If the current plan lacks in terms of performance and does not look suitable to achieve the objectives of the firm, management principles require the plans to be altered according to the requirements. However, it is necessary to implement the plans as they are arranged. The basic rule is to remember that “nothing happens without a plan”. Organizing is another important function of management which requires deciding on the organizational structure. It includes...
2 Pages(500 words)Essay

Phases of a Project Lifecycle

... 1. A poster illustrating the typical phases of a project lifecycle a project lifecycle has the following stages; Initiation phase This is the first phase in the project life cycle. It involves starting up a new project. It entails defining its objectives, purpose, scope, and deliverables to be produced. A project team is usually hired and the project office set. At the initiation stage, some steps are usually involved such as developing a business case, undertaking a business case, performing the project charter, identifying the project team, establishing the project office and performing a review of the phase. This is the most crucial phase (Wesland...
7 Pages(1750 words)Assignment

Software Lifecycle

...that are unique to its approach of system development. It has a high amount of risk analysis compared to other models. The model is also ideal for projects that are complex in nature and are mission critical. The software is also produced at the early stages of the software lifecycle (Barry, 1988). The spiral model carries more similarities to the incremental model, but there is more emphasis on risk analysis. The model comprises four phases namely; planning, Risk analysis, Engineering and evaluation. A typical project is iterated through this spiral phases. The cycle begins with the planning phase where requirements are gathered, and risk is analyzed or assessed (Barry, 1988). Each of the phases of cycle starts with...
4 Pages(1000 words)Research Paper

The Software Development Lifecycle

...The software development lifecycle Lecturer Executive Summary Information technology (IT) is being used rapidlyin today’s life. Information systems (IS) and information technology (IT) plays a very important role for the development of almost all kinds of organizations. Information technology (IT) contributed positive impacts in majority of the fields. Large numbers of areas are getting benefits from the innovative inventions of Information technology (IT). Some common areas where information technology presenting expertises are: in education sector, in the field of medical and medicine, engineering, mobile technology, management sciences, business and industrial applications and many more areas are...
9 Pages(2250 words)Assignment

Folate through Lifecycle Nutrition

... Folate through the Life Cycle Introduction The life cycle of humans is required to go hand in hand withthe right activities and nutrients for proper growth and development. One important nutrient for a healthy population that is required since birth is Folate. Folate has been established to be critical in prevention of cardiovascular diseases, certain types of cancers and cognitive disorders1. Various biological mechanisms in the human body also require foliate. DNA synthesis, amino acids metabolism and Methylation of genes are some of the processes that require Folate.2 However just like any other nutrients; Folate is required to be taken in considerable amounts. The required Folate intake amount depends on the condition.3... Folate through ...
4 Pages(1000 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Personal Statement on topic The Business Lifecycle for FREE!

Contact Us