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Part - V

We must notice that at these points people start planning the way they never had done before. Those people who are good at adapting themselves to these changes become successful in their life. The same is true with companies, change is inevitable for them but most of them don't change or change at wrong time then it becomes a big problem for future.

PLC: Human Life

Human body's life period is comparable to product or business life period. How? Let's see.

Every product/business has a life cycle. This life cycle is similar to human life cycle. Product life cycle says that first product is introduced like a person gets introduced to this world at his birth. Then next stage is growth of the product where it reaches its maximum stage of sales similarly during period of growth in human being it achieves its maximum physical strength in youth stage.

Then comes maturity where life goes at a constant pace for both products as well as for human. For human beings there is not much growth in their physic. The same is true for products in sales; at their maturity their sales don't grow above a certain limit. Decline comes with old age in human being where health keeps on deteriorating as in the case of product where sales keep on deteriorating, and the death is inevitable.

Concluded.

* Contributed by: -
Tejinder Singh,
MBA (IInd year),
International Management institute, Delhi.