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A business has broke even and survived its first year of trading. As it enters a stage of relatively rapid growth, describe the INTERNAL hazards that may impact on the business and critically argue what may be done to reduce the overall risk - Essay Example

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When entrepreneurs write the ideas, the idea starts to take direction. However, it will only come to reality when the capitalist takes a risk and it is at this point that the…
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A business has broke even and survived its first year of trading. As it enters a stage of relatively rapid growth, describe the INTERNAL hazards that may impact on the business and critically argue what may be done to reduce the overall risk
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"A business has broke even and survived its first year of trading. As it enters a stage of relatively rapid growth, describe the INTERNAL hazards that may impact on the business and critically argue what may be done to reduce the overall risk"

Download file to see previous pages Knowing where the business is at on the lifecycle can be important to its success.
A business will always be changing with the passage of time. Parenting strategies that work for your toddler cannot be applied to your teenager. What the business focuses on today will change and require different approaches to be successful.
This is the stage that thoughts or proposals are created. This is the very beginning or birth of a new business. Nearly all upcoming businesses are obligated to face the challenge of market reception and hunt a niche opportunity in order to familiarize the consumers of their existence. At this stage of the business the center of attention is on matching the business opportunity with the available skills, experience and passions of delivering the good or service. Other crucial points take in; choosing the business ownership structure, looking for professional advisors, and planning of business. The company will depend on money from owners, close associates and relatives. Other sources may include suppliers, customers, government grants and bank loans. Completion of a business plan structure is a major success factor for an up -coming company.
There are multitudes of good ideas when attempting to launch a company. To be victorious, the up-coming business will require imaginative managers and flexible in order to enthusiastically settle in the business model and survive in the rapid market progression.
During start up the products or services are in production and you have your first customers. Major challenges in this stage are learning what profitable needs your clients have and do realities check to see if your business is on the right track. The business will look forward to putting in place a consumer based and market existence alongside tracking and safeguard cash flow (Klofsten, 2005).
All the energy is aimed at marketing of the business. The business experiences high risks at this stage, 25% of new businesses ...Download file to see next pagesRead More
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A business has broke even and survived its first year of trading. As Essay. Retrieved from https://studentshare.org/business/1638020-a-business-has-broke-even-and-survived-its-first-year-of-trading-as-it-enters-a-stage-of-relatively-rapid-growth-describe-the-internal-hazards-that-may-impact-on-the-business-and-critically-argue-what-may-be-done-to-reduce-the-overall-risk
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