1. Define the five stages of small business growth.
2. Identify the stages of the organizational life cycle.
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3. Characterize the industry life cycle and its impact on small business.
Small businesses come in all shapes and sizes. One thing that they all share, however, is
experience with common problems that arise at similar stages in their growth and
organizational evolution. Predictable patterns can be seen. These patterns “tend to be
sequential, occur as a hierarchical progression that is not easily reversed, and involve a broad
range of organizational activities and structures.”