Every organization goes through different phases; an organizational life cycle divided into the following phases:
- Existence / Start-up (or Birth): Early days of the company.
- Survival: Organizations try to expand their business (try to achieve growth)
- Maturity phase: Company reaches the peak from where it becomes difficult to grow further.
- Renewal Phase: Companies may reinvent / renew itself to give it another chance at growth.
Organizational Decline: Every company enter the decline phase, eventually resulting in the shutdown of the company.
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Management (MBA) question on organizational life cycle:
Q) Give an example of any organization that has gone through the phases of organizational life cycle.
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