Economist Kenneth Boulding once said that all organisms, be it social or economic, exhibit a “lifecycle” of birth, growth, decay and death. Business organisations are often likened to living organisms and as time moves on, they change and evolve. And just like living organisms, a typical business lifecycle revolves around four stages: birth, growth, maturity, and decline.
Life cycle stages:
Between these different stages, businesses are likely to face challenges, and may have to make changes in leadership, management and thinking – or risk early decline and perhaps, eventually, failure. Many businesses finally choose to restructure when facing financial distress. The most common forms of restructuring are managerial, operational, asset or financial restructuring. Read More >>>