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 mechanism by which new production units replace outdated ones.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 the freest form of self-expression. There is nothing more satisfying and fulfilling for children than to be able to express themselves openly and without judgment. The ability to be creative, to create something from personal feelings and experiences, can reflect and nurture children's emotional health.