Questions: Multiple Choice Question The life cycle is the sequence or pattern of developmental stages any firm goes through during its life span. opportunity product business industry

Multiple Choice Question The life cycle is the sequence or pattern of developmental stages any firm goes through during its life span. opportunity product business industry
Transcript text: Multiple Cholce Question The $\qquad$ life cycle is the sequence or pattern of developmental stages any firm goes through during its life span. opportunity product business industry
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Solution

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The answer is: business

Explanation for each option:

  1. Opportunity: This term refers to a favorable set of circumstances that creates a need for a new product, service, or business. It is not typically used to describe a sequence of developmental stages.

  2. Product: The product life cycle describes the stages a product goes through from introduction to decline. While this is a valid concept, it does not encompass the broader developmental stages of a firm itself.

  3. Business: The business life cycle is the correct term for the sequence of stages a firm goes through during its life span. These stages typically include startup, growth, maturity, and decline.

  4. Industry: The industry life cycle refers to the stages an entire industry goes through, from emerging to mature and potentially declining. This is broader than the life cycle of a single firm.

Therefore, the correct answer is "business" as it accurately describes the sequence of developmental stages a firm goes through during its life span.

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