Which of the Following Industries Is Likely to Follow the Industry

question 26

Multiple Choice

Which of the following industries is likely to follow the industry life cycle stages from introduction to decline?

• A) Cars
• B) Travel
• C) Digital cameras
• D) Hairdressing

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Definitions:

Environmental Scanning

The process of systematically collecting information about external influences and trends to identify opportunities and threats.

Trade Publications

Specialized magazines or journals aimed at professionals in specific industries to share relevant news, trends, and insights.

Proactive

Taking initiative by acting in advance of future situations or problems, rather than just reacting.

Globalization

The process by which businesses or organizations develop international influence or start operating on an international scale, leading to a more interconnected and interdependent world.