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Sometimes the term business life cycle is used interchangeably with the organizational life cycle, while the two are different. The organizational life cycle is a more inclusive term for all kinds of organizations which includes even government organizations , but the business life cycle refers more specifically only to for-profit companies .
The enterprise life cycle is a key concept in enterprise architecture (EA), enterprise engineering [2] and systems engineering. [3] The Enterprise Architecture process is closely related to similar processes, as program management cycle or systems development life cycle, and has similar properties to those found in the product life cycle.
The forming–storming–norming–performing model of group development was first proposed by Bruce Tuckman in 1965, [1] who said that these phases are all necessary and inevitable in order for a team to grow, face up to challenges, tackle problems, find solutions, plan work, and deliver results. He suggested that these inevitable phases were ...
Each industry has several life-cycle models to consider, but most are relatively similar. Below is one possible life-cycle model; while it emphasizes hardware-oriented products, similar phases would describe any form of product or service, including non-technical or software-based products: [16]
Life cycle models: Describe the process of change as the unfolding of a prescribed and linear sequence of stages following a program that is prefigured at the beginning of the cycle (decided within the group or imposed on it). Teleological models:
Product life-cycle management (PLM) is the succession of strategies by business management as a product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages.
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One way to model product adoption [9] is to understand that people's behaviors are influenced by their peers and how widespread they think a particular action is. For many format-dependent technologies, people have a non-zero payoff for adopting the same technology as their closest friends or colleagues.