MANAGEMENT

Detailed explanation-1: -The four phases of the industry life cycle are the introduction, growth, maturity, and decline phases. The industry life cycle ends with the decline phase, a period when the industry or business is unable to sustain growth.

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: -In summary, the human life cycle has six main stages: foetus, baby, child, adolescent, adult and elderly.

Detailed explanation-4: -The maturity phase of the industry lifecycle often begins with a shakeout period, during which growth slows, focus shifts toward expense reduction, and consolidation occurs. Some firms achieve economies of scale, hampering the sustainability of smaller competitors.