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 mechanism by which new production units replace outdated ones.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.
Creativity is using your abilities to make things that are your own or are unique. Kim Johnson. Creativity is engaging in activity that is not learned from a book. It is doing something that you enjoy and that you are the author of - such as an original song or work of art. Martina Berry. Creativity is being unique.