Brooke and RidgeChester CaoExecutive SummaryThe purpose of this report is to outline the business life cycle of "Brooke and Ridge" and provide recommendations to combat the problem of declining business sales experienced by "Brooke and Ridge" Ridge” after 10 years of consistent service. After developing a good reputation for quality products such as durable, well-tailored swimwear and bathing suits, increased competition and pressure from low-cost imports, as well as the company's inability to adapt to changing preferences of consumers, resulted in lost sales for Brooke and Ridge. Strategies for the company to enter the post-expiration renewal phase include:1. Cutting costs improving the company's competitive position2. Implementation of new products3. New advertising strategies in new market areas (new market niches)1. Plant1.1 Definitive CharacteristicsSales - Slow, possibly erraticProfit - Slow start, occasional lossesCosts - Very high fixed costs (equipment, raw materials and insurance)Customers - Development (need positive relationships)Management - Informal (usually by one or two)Figure 11.2 ObjectiveThe main objective of the establishment phase is to maintain and operate in a fast-paced market to ensure a solid foundation for future business growth.1.3 Challenges The main concern for a company like Brooke and Ridge in the early stage of its establishment is undercapitalization with irregular and inconsistent cash flow deficiencies. This has a negative impact on a company, hindering its ability to develop and its performance in a competitive market. Furthermore, financial aid is often not provided by large financial institutions due to their cautious nature towards new businesses. With... half the paper... entering the market can generate new interest among potential customers. New advertising strategies in new market areas (new market niches) Advertising differently in pristine market areas can prove advantageous with the possibility for previously unknown interest groups. Conclusion In conclusion, Brooke and Ridge, which have been identified as being in the “post maturity” stage, will require the implementation of various strategies to combat the contemporary challenges of increased competition, low-cost imports, and changing consumer preferences. It is recommended that the “cost reduction” strategy be implemented initially by providing Brooke and Ridge with financial headroom and less management overhead in preparation for the change. It would therefore be wise to create new products and advertise in new markets to revitalize the company's prospects and update the product range.