A Developing Business is one that has survived the first two years. They may be beginning to establish a customer base and have a stronger idea of customer wants and needs and where their brand fits in the market.

At this stage, ideas and objectives are influenced by changes in external factors such as social trends and the economy. Entrepreneurship may be replaced by intrapreneurship and decisions on changes to the product portfolio and new markets to enter will be made.

Businesses in maturity may have an established customer base and strong brand. They will likely broad product range but there may be a lot of competition.

At this stage, ideas and objectives will be influenced by the need to develop new products. Changes may be made to processes such as production, inventory management, procurement and sales may be developed. Organisational structures will need to be revised as a business expands.

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