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 mechanism by which new production units replace outdated ones.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.
Creative ALchemy. al-che-my [al-kuh-mee] ~ any magical power or process of transmuting a common substance, usually of little value, into a substance of great value. - Dictionary.com. In Windows Vista, Microsoft has decided to remove the Hardware Abstraction Layer (HAL) for DirectSound and DirectSound3D.