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Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are many definitions of a business cycle.
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.
Enterprise life cycle (ELC) in enterprise architecture is the dynamic, iterative process of changing the enterprise over time by incorporating new business processes, new technology, and new capabilities, as well as maintenance, disposition and disposal of existing elements of the enterprise.
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.
Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real, in contrast to nominal, shocks. [1] RBC theory sees business cycle fluctuations as the efficient response to exogenous changes in the real economic environment.
The following outline is one such model, based on the Process Reengineering Life Cycle (PRLC) approach developed by Guha. [13] Simplified schematic outline of using a business process approach, exemplified for pharmaceutical R&D Structural organization with functional units; Introduction of New Product Development as cross-functional process
Enterprise life cycle, the process of changing a business enterprise; Project life cycle; Product lifecycle, the stages in the lifespan of a commercial or consumer product; New product development, the process of bringing a new product to market; Life-cycle assessment, the analysis of the environmental impacts associated with a product
A business process, business method, or business function is a collection of related, structured activities or tasks performed by people or equipment in which a specific sequence produces a service or product (that serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels ...