Business Title: AcademicHarbor Study, Eat, Sleep, Repeat

Description: Our business simply offers a comfortable space to study or work quietly, a snack to eat and ofc a cozy space to sleep when u want to take a nap if u got tired from studying or if u want to take a break. Our main target market is ofc students and/or workers.

The target Market is 1million

Instruction: Check the picture for the instruction and to answer the question below.

1. Business Life Cycle Stage

• Introduction

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• Business Life Cycle Stage

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• Explanation of the Current Stage

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• Historical Context

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• Future Growth Prospects

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• Challenges and Opportunities

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• Impact on Business Strategy

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Transcribed image text: Key Elements of a Business Description section h) Business Life Cycle Stage - Describe the current stage of your business's life cycle (e.g., startup, growth, maturity). - Explain how this stage impacts your business strategies and goals. Included information: * Introduction - Begin by introducing your business and its primary activities. - Mention the industry or market segment in which your business operates. * Business Life Cycle Stage - Clearly state the current stage of your business's life cycle. Businesses typically go through stages like startup, growth, maturity, or decline. * Explanation of the Current Stage - Provide a brief explanation of what characterizes your business's current life cycle stage. For example: If your business is in the "startup" stage, mention that it is in the early phase of development, focusing on market entry, product development, and building a customer base. If it's in the "growth" stage, explain that the business is expanding, experiencing increased revenue, and likely seeking to capture more market share. If it's in the "maturity" stage, describe it as a well-established business with a stable customer base, possibly exploring diversification or international expansion. If your business is in the "decline" stage, acknowledge that it may be facing market saturation, declining sales, or other challenges. Key Elements of a Business Description section Business Life Cycle Stage - Describe the current stage of your business's life cycle (e.g., startup, growth, maturity). - Explain how this stage impacts your business strategies and goals. Included information: * Historical Context - Offer some historical context about how your business has progressed through various stages to reach its current position. * Future Growth Prospects - Discuss your outlook for the business's future. For instance, if your business is in the growth stage, you might discuss the potential for further expansion. If it's in the maturity stage, you might focus on strategies to maintain market share or diversify. * Challenges and Opportunities - Identify the challenges and opportunities associated with your current life cycle stage. For example, a startup may face funding and market awareness challenges, while a mature business might focus on innovation and cost management. * Impact on Business Strategy Explain how your business strategy is influenced by its current life cycle stage. If you're in the growth stage, your strategy might emphasize market expansion and new product development. If you're in the maturity stage, your strategy could involve optimizing operations and diversification