A generic lifecycle of products. In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products.
Creative destruction refers to the incessant product and process innovation. mechanism by which new production units replace outdated ones. This. restructuring process permeates major aspects of macroeconomic performance, not only long-run growth but also economic fluctuations, structural adjustment. and the functioning of factor markets.
1 SEATTLE â Within a few years, Amazon.comâs creative destruction of both traditional book publishing and retailing may be footnotes to the companyâs larger and more secretive goal: giving anyone on the planet access to an almost unimaginable amount of computing power.