DB1 Life Cycle.docx - Running head DISCUSSION BOARD ONE THE...

This preview shows page 1 - 4 out of 8 pages.

Running head: DISCUSSION BOARD ONE – THE LIFE CYCLE 1 Discussion Board One – The Life Cycle Liberty University Dr. Arrington
Image of page 1

Subscribe to view the full document.

DISCUSSION BOARD ONE – THE LIFE CYCLE 2 Key Concept Explanation The life cycle, also known as the S-Curve Theory or the S-Curve Model aims to predict the growth and decline of an organization over time. The Life Cycle Model can be applied to organizations as a whole or they can be applied to their products or services specifically. According to Jeffery Overall and Sean Wise, the life cycle of products is based on the biological life cycle we see in living organisms. The S-Curve model was developed to capture to progression of products or services from beginning to end (2015). Technological innovation and development have similar life cycles; if they are not continuing to perform R&D and making strategically released improvements of innovation, the technology will become obsolete. The life cycle can be broken into three phases: first, market introduction and adoption, second, acceptance and growth in market, and third, is maturity with market saturation. Depending upon the firm’s strategic planning and implementation, they can experience decline, sustained demand, or even a new growth curve by way of continued innovation. I chose this topic because of the field I currently work. I work in the assisted living industry and the Baby Boomer generation are beginning to retire and some are considering assisted living already. There will be a strong need for my industry over the next thirty years as Baby Boomers age, but if organizations within the industry fail to innovate, they will not survive. What the Silent generation wants, and needs are clearly not what Baby Boomers want and need. I ultimately would like to be a visionary and innovator for the industry. Comparison Rudina Lipi, author of The Growth Performance of Small Business Under the View of Life-Cycle Model identifies five stages in the Life-Cycle model compared to Meredith and Shafer. Lipi’s stages are as follows: (1) An organization’s existence by establishing the initial
Image of page 2
DISCUSSION BOARD ONE – THE LIFE CYCLE 3 customer base to survive. (2) Slow continuous growth where organizational structure becomes more solidified and formalized; the firm becomes more competitive in the market. (3) the firm becomes bureaucratically stable, finding maturity and their organizational environment is analyzable. (4) The firm is becoming more collaboratively organized for innovation and creativity, customer centered. (5) Firm’s often see decline in this stage due to an inward focus as employees become self-interested making political moves within the firm. (2013) While there are varying opinions of the Life-cycle theory stages, there is a consensus that firms need to strategically plan around their product’s life-cycle. Firm’s should have several
Image of page 3

Subscribe to view the full document.

Image of page 4
  • Spring '16
  • Business, Toyota Production System, Volvo, Production system, Biological life cycle

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern