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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Unit 2 DB Maturity in the Business Sense

Unit 2 DB

Q How much of an impact does the "maturity" level of the industry or company have on strategy? How can you be innovative in a mature industry? How can you be conservative in an introductory/rapid growth situation? Should you be conservative??? Back up your assertions with resources and readings from the course, and your own research or experience.

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In case of formulating a strategy, the consideration of the “maturity level” of the industry or company is important to be done to comprehend the situation of market-saturation. The implication of this level can lead to lack of opportunities for making the business become expanded. There can also be no opportunities for growing the chances of making the product more visible/popular in target markets (Al-Surmi et al. 2020). Innovation might also become a distant reality (Al-Surmi et al. 2020). Deficiencies in marketed products/services can become more prominent. Demand can also remain at the same level not providing chances for the organizations in the target market to make moves for expanding/growing (Hill et al. 2020).