Birth: The birth stage is characterized by the initial idea, planning and formulation of the concept. At this point the organization may lack resources such as money or personnel and can appear quite chaotic while it figures out how to create structure in order to balance risk with potential reward. Organisations at this stage are often small with limited resources but huge potential. Growth: The growth phase is when an organisation begins to develop systems, procedures and strategies that allow it to gain traction in its market place. During this time there will be increased employment and more capital investments due to larger customer demand as well as increased competition among existing businesses within your sector. Maturity : The mature phase comes after achieving success from expansion , economies scale achieved process automation . Businesses operating within this period typically witness steady profits leading reduced volatility stock price increases shareholder value seen greater stability operations due better understanding landscape industry hindsight taken into account when making decisions . Decline: Decline marks the decrease in output or sales for a business as new competitors enter into the marketplace or new technologies make existing products irrelevant. Decreasing profits also reflect diminishing returns on investment due to ever increasing costs associated with running any commerce venture . It typically signals need change adaptation order prevent rapid demise occur . Renewal : Renewal marks start reinvention revamping processes ensuring up date contemporary standards requirements inline current trends specific sector sector industry adapting quickly possible disruptions caused external factors remain competitive survive changing times bring forth newer opportunities arise potentially benefit company possible manner if managed properly right direction undertaken who knows what doors could open let future hold ?

Sample Solution

The business lifecycle is a useful tool for organisations to determine where their organisation is situated in its growth and development. This cycle consists of five main stages; birth, growth, maturity, decline and renewal. Each stage has distinct characteristics which will impact the way an organisation operates at each life stage.