The state of Texas follows the federal labor laws, and has not adopted any of their own as some other states have done. According to Texas overtime laws, employers are required to pay their employees overtime pay for hours worked over forty hours a week. Texas overtime laws require that overtime pay should be no less than one and one-half times the employeeâs regular rate of pay. The only employees that should not receive overtime pay are those that are exempt. Texas follows the federal laws regarding exempt employees. Exempt employees are strictly defined by the Department of Labor and include employees such as executives, professionals, teachers and certain commissioned positions.
Decline. The last of the product life cycle stages is the Decline stage, which as you might expect is often the beginning of the end for a product. When you look at the classic product life cycle curve, the Decline stage is very clearly demonstrated by the fall in both sales and profits. Despite the obvious challenges of this decline, there may still be opportunities for manufacturers to continue making a profit from their product.
The product life cycle can be divided into several stages characterized by the revenue generated by the product or range of products, such as a brand. The life cycle can be very short, as pertains to a product that is for an event, such as a Christmas toy, or very long such as a watch or a car. For most products, the beginning of the life cycle is the product development stage. Companies develop new products all the time and a small percentage of those reach the market.