BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The industry life cycle refers to the evolution of an industry or business through four stages based on the business characteristics commonly displayed in each phase. The four phases of an industry life cycle are the introduction, growth, maturity, and decline stages.

Detailed explanation-2: -The product life cycle is the progression of a product through 5 distinct stages-development, introduction, growth, maturity, and decline.

Detailed explanation-3: -An industry life cycle depicts the various stages where businesses operate, progress, and slump within an industry. An industry life cycle typically consists of five stages-startup, growth, shakeout, maturity, and decline. These stages can last for different amounts of time – some can be months, some can be years.

Detailed explanation-4: -Shakeout stage The shakeout phase is when companies in the market gain more strength over their competitors. Often, the weaker competitors may go down in the market or close altogether because of the inability to grow or negative cash flow.