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

question 137

Multiple Choice

The CEO of David's firm just came back from a business seminar. He called David into his office and 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)the product life cycle works only for certain types of firms.

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Definitions:

Financial Accounting

The branch of accounting that focuses on recording, summarizing, and reporting a firm's financial transactions to external parties through financial statements.

Control Phase

A stage in process management or project management where performance is monitored and compared against planned goals to identify and implement corrective actions.

Assign Tasks

The process of allocating specific duties or responsibilities to individuals or teams within an organization.

Nonfinancial Performance

Measures of an organization's success not directly related to financial gains, such as customer satisfaction, employee engagement, and environmental impact.