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 mechanism by which new production units replace outdated ones.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.
My name is Kevin Harrell and I practice the art of Creative Destruction by making blackout poetry. All content is original unless otherwise noted. Personal blog here. To live without the creative potential of our own destructiveness is to be a cardboard angel.