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.

life cycle

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

References in periodicals archive ?
Reformed stewardship--driven by improving product support and achieving more cost-effective weapons system readiness outcomes--requires a life cycle management focus, committed leadership, and cooperative efforts from the operational, acquisition, and logistics communities.
DoD reiterated the importance of Life Cycle Management principles by acknowledging the long-term benefits of addressing long-term sustainment planning, including cost containment early in a system's life cycle in August 2006 when the Joint Requirements Oversight Council (JROC) strengthened current DoD Total Life Cycle Systems Management (TLCSM) policy by issuing JROC Memorandum 161-06 "Key Performance Parameter (KPP) Study Recommendations and Implementation.
Since a life cycle is observed through relations between money flows and time, and it comprises all relevant elements of organizational behavior, this gives us an opportunity to analyze thoroughly a recession impact on a business system.
Ideally, the data life cycle management solution should be completely transparent to applications and to users who do not necessarily need to know where their data is stored as long as it is accessible.
Overall, the analysis by Root and her colleagues revealed that many springtime life cycle events have changed.
One of the key benefits of life cycle planning is the renewal curve that can be created for each school.
The ILSAM is considered an essential tool for an FMS customer-manager assigned as a life cycle program manager (LCPM) and responsible for cost effective and responsive life cycle support.
Further, product acquisition should also include the evaluation of upstream life cycle steps in terms of resource use, energy demands, and global impacts.
This Rash Act": Suicide Across the Life Cycle in the Victorian City.
Reliance found that certain behaviors in the life cycle of a claim significantly affected the claim's outcome; it also discovered that 45% of company professionals' time was spent on activities that had no impact on outcome.
Since its adoption by marketing, the product life cycle (PLC) has achieved universal acceptance because of its appeal and wide application.