The Duration of the Industry Life Cycle

question 44

Multiple Choice

The duration of the industry life cycle:

• A)Typically extends over a century or more
• B)Is determined by the longevity of the firms within the industry
• C)Has become compressed as the pace of technological change has accelerated
• D)Depends upon the ability the industry to sustain innovation

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Definitions:

Charismatic Personality

A type of personality characterized by compelling charm, enthusiasm, and confidence that can inspire devotion in others.

Monetary Rewards

Financial incentives given to employees or individuals as recognition for their work, achievements, or performance.

Expert Power

is the influence one possesses due to their skills or expertise, which others recognize, leading to respect and the power to influence decisions or actions.

Specialized Knowledge

Expertise or skills in a specific field, often acquired through extensive training and experience, contributing to an individual's or organization's competency.