The article discusses the development of small and medium-sized enterprises by stages of their life cycle. Based on the data of empirical studies on duration of the life cycle of such enterprises, the author marked critical points of their development and concluded of establishing the conditions for the successful transition to the next development stage/cycle of the company. The author also proposed an updated model of Greiner’s life cycle and formulated the key distinction of the mechanism of management decisions within a standard life cycle and in case of transition from small business to medium one. This article is intended for owners of small and medium-sized businesses, their CEOs and CFOs, as well as for researchers involved in studying the life cycle of enterprises.
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