The CEO of David's Firm Just Came Back from a Business

question 143

Multiple Choice

The CEO of David's firm just came back from a business seminar, and he called David into his office. He stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that

• A) the product life cycle is not a useful concept.
• B) it is often impossible to identify with precision where a product is in the product life cycle.
• C) the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation.
• D) the idea has been discredited by recent research.
• E) his job may be threatened by the answer.

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Definitions:

Systems Approach

A holistic view of analyzing problems and solutions, considering the entire system's functions and relationships rather than focusing on individual parts.

Needs Assessment

The process of identifying and evaluating the needs of a particular group or organization to achieve its objectives.

Assessment

A systematic evaluation of various aspects of a project, individual, or organization to make informed decisions.

Evaluation

The systematic assessment of a program, process, or performance, typically used to make improvements or determine the success of an initiative.