Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ols s of Maia's market niche is:: O People looking for exotic getaways O Wealthy people who travel in style O Married couples with

image text in transcribedimage text in transcribed

ols s of Maia's market niche is:: O People looking for exotic getaways O Wealthy people who travel in style O Married couples with children Young urban professionals Urban Escapes is an example of which trends in entrepreneurship? Check all that apply. E-commerce presents opportunities to many entrepreneurs. Businesses today often get initial funding through online crowdsourcing and microlending websites. More businesses are being started by women. The success rate of new businesses has risen in recent years. Study this research summary and then answer the question below. Research Summary A classic article by N. C. Churchill and V. L. Lewis identifies five stages of small business development that can be applied to Urban Escapes: 1. Existence: The entrepreneur is working to get customers and to deliver the product or service to those customers. 2. Survival: The business is developing systems that allow it to operate more efficiently and generate some profit. 3. Success: The business has established systems and consistent profits. 4. Takeoff/growth: The entrepreneur may seek additional capital to expand and serve an increasing number of customers and do a larger amount of business. 5. Resource maturity: The company is relatively large and may seek to diversify. Source: Churchill, N. C., & Lewis, V. L. (1983, May). Five stages of small business growth. Harvard Business Review. Retrieved from https://hbr.org/1983/05/the- five-stages-of-small-business-growth/ Maia seeks to expand the business into Boston, Philadelphia, and Washington, D.C. According to what you learned from the research summary, at which stage was Mala's decision made? O Survival Existence O Resource maturity, O Takeoff

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management

Authors: Chuck Williams

4th Edition

978-0324316797, 0324316798

More Books

Students also viewed these General Management questions