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During this period the fledgling business is vulnerable to failure and income is tight. The manager is often short of capital and know-how but possesses lots of enthusiasm.
· Growth - During this period the business tends to expand rapidly in terms of acres of crops, head of livestock, or number of enterprises. The manager's skills develop. However, lack of capital may limit growth during this period.
· Maturity - During the maturity stage the manager has reached full employment and the size of the business stabilizes. This is often a period of good profits and excess capital. Also, the manager often has highly developed management skills, and concentrates on improving efficiency...
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