Industry Lifecycle Analysis

The video explains the concept of the industry life cycle, which is divided into four main phases: introduction, growth, maturity, and decline. It describes how industries or companies progress through these stages, highlighting key characteristics and metrics such as time and output. The video also discusses how to analyze a company's position within this cycle and the factors that influence it. The cycle is continuous, with companies needing to innovate to restart the process.

Describe the significance of competition during the decline phase of an industry.

What factors could indicate where a company is in the industry life cycle?