Asked by Keyara Lewis on May 07, 2024
Verified
The takeoff stage of small business growth is the stage that all business owners should aspire to reach rapidly and maintain indefinitely.
Takeoff Stage
Refers to the phase in a country's economic development where growth becomes rapid and self-sustaining, often marked by increases in productivity and investment.
- Absorb the fundamentals and development stages of business evolution.
- Recognize the multiple stages of small business expansion.
Verified Answer
WJ
William JackmanMay 14, 2024
Final Answer :
False
Explanation :
The takeoff stage, while a significant growth phase, is not necessarily suitable for all businesses to reach rapidly or maintain indefinitely due to the challenges and risks involved, including the need for substantial resources, management restructuring, and potential loss of business control. Different businesses may have varying optimal growth stages based on their goals, resources, and market conditions.
Learning Objectives
- Absorb the fundamentals and development stages of business evolution.
- Recognize the multiple stages of small business expansion.
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