What are the five stages of the industry life cycle? Name them and provide a real-life example of a company or industry that has gone through all five stages.
What will be an ideal response?
Student answers will vary. A sample answer follows:
The five stages of an industry life cycle are introduction, growth, shakeout, maturity, and decline. AT&T is a company that has gone through all five cycles: it brought phones to people's homes and businesses, grew to have an enormous market share, faced legislation from the federal government, reestablished itself as a provider of landlines, cell phones, and television; and has lost significant business as people switch from landlines to smartphones.
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