life cycle

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Life cycle

The lifetime of a product or business, from its creation to its demise or transformation.

Industry Life Cycle

The period of time from the introduction of an industry to its decline and stagnation. Different analyses posit different stages of an industry life cycle (usually four to five), but all emphasize that an industry has a beginning, with technological innovation; a period of rapid growth; maturity and consolidation; and finally decline and possibly death. For example, in the video cassette recording (VCR) industry, the mid-1970s were a period of decentralized technological innovation, with VHS and Betamax formats vying for dominance. Later, video cassettes very quickly became a common household item. In the maturity phase, different companies selling VCRs attempted to corner a greater market share for their own (identical) versions of the product. Finally, the industry declined and was eventually supplanted by DVD players. An industry life cycle can be prolonged by several factors, including opening new markets to the product, finding new uses for the same product, or even attaining government subsidies. The concept of an industry life cycles applies most readily to the sale of goods and it is difficult to gauge how it works in a service economy.

life cycle

  1. the stage people have reached in their life, from single at home through young parents to solitary retired. See SOCIOECONOMIC GROUP, BUYER BEHAVIOUR.
  2. see PRODUCT LIFE CYCLE.

life cycle

The various phases of a project—predevelopment, development, leasing, operating, and rehabilitation.

References in periodicals archive ?
Designing process is one of the initial steps of machine tool life-cycle that follows from Fig.
Development phase is often the most complicated phase of the product life-cycle therefore it usually takes long time with high costs (Dosedla, 2008).
Life-cycle management systems developed in a vacuum or those with only one information discipline focus will not flourish in today's information age.
She has 14 years information management experience and specializes in enterprise electronic records management, information and knowledge life-cycle management, and metadata development and standardization.
Like Epicor, Microsoft has a top score in software life-cycle ownership experience, and very high scores in regard to strategy.
The improved application life-cycle support in Visual Studio "Whidbey" will assist Elsinore in building its future product line, the Elsinore Methodology Management Framework.
TransACT further extends the product life-cycle management capabilities of Duck Creek's Microsoft-based platform by offering Web-enabled policy administration for any line of business.
A new version of the LPD Navigator, NAVX, provides a Java- and XML-based Web interface that gives access to design, construction and life-cycle configuration management data.
Companies must be able to manage the entire life-cycle of the submission, which means that as the product develops documentation changes frequently and all these changes must be tracked and reported to the regulatory agencies.
The need to adapt to ever-changing environments and patron needs is verified by Majaro (1993) who notes that "all the evidence seems to suggest that product life-cycles are becoming shorter and shorter" (p.