Definition: is a phase in a business’s life cycle, in which a company or an organization reaches its maturity and becomes a well-established business on the market, with a good, stable reputation and a strong product or service. During this phase, business owners usually consider two possible options for the future company’s development. The first option is to expand the business, allowing the company to grow, which requires significant and stable revenue. Another option involves keeping the business profitable and stable while remaining within certain growth boundaries and allowing the owners to use this business as a stable base for other, alternative business activities.
In a Sentence:
The third stage of development allows us to choose what we are willing to do next: expand or strengthen our position even more.
Because we have reached the third stage, we are now able to take on more staff.
During the third stage, we have gained more clientele, which means we need to invest in the new equipment in order to deal with such a large base.
Synonyms and related words: business cycle, business stage, business development, business maturity, business growth patterns, business framework