Question

As used in the text, the term environment means all the forces influencing the life and development of the firm.

Answer 1

This statement is False.

What is Lifecycle of business ?

A product's life cycle is the series of events that start when it is first created, follow it as it develops into a mature product, reaches critical mass, and then begins to decrease. A product's life cycle typically includes the following stages: product creation, market launch, growth, maturity, and decline/stability.

• In business, a product's life cycle tracks its development, maturation, and decline.
• The business, economic, and inventory cycles are other business cycle categories that have a life cycle-like trajectory.
• In the early stages of product development, seed money is frequently used.
• It is beneficial to research a competitor's product's life cycle.

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