White Papers Product Life Cycle Management Product life cycle management or PLC management is the sequential formulation and implementation of strategies used by Marketing Professionals as a product goes through its life cycle. The conditions of the market in which a product gets sold changes over time and the issues that arises with the changes must be managed as the product moves through its succession of stages. Indeed, without effective product lifecycle management, success mapping and product phase-outs would be virtually impossible. Imagine if you as a manager or entrepreneur had no idea which of your offerings are really doing well.
The business cycle, with its peaks, recessions, troughs, and expansions, will be described and analyzed.
The concepts of Research papers on business cycle contraction and expansion will be introduced. The process of determining and dating the business cycle will be described. The tactics for managing the business cycle, particularly risk management, will be summarized.
Case studies of business-cycle sensitive industries will be investigated. Business Cycle Overview The business cycle, which includes a peak, recession, trough, and expansion, is a cycle of economic contraction and expansion.
A recession, as defined by the National Bureau of Economic Research, is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Expansion is considered the normal state of the economy. This economic peak followed a ten-year expansion that began in The most recent trough in the business cycle, followed by an expansion, occurred in November Business cycles refer to type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises.
A complete business cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and expansions or revivals. There are two types of business cycles: Classical cycles refer to hills and valleys in a series representing the general level of economic activity.
Growth cycles refer to recurring fluctuations in the rate of growth of aggregate activity relative to the long-run trend rate of growth. The measurement and analysis of business cycles is crucial for the economic health of the public and private sectors.
Economic indicator analysis is one of the main tools used in measuring and analyzing business cycles. Economic indicator analysis involves using leading and coincident indexes of economic activity as strong forecasting factors or tools Boehm, The business cycle is a prevalent concept, in part, due to the shared nature of the experience across the economy.
The majority of economic sectors expand and contract together in the business cycle. Comovement refers to the synchronized movement of sectors of the economy during periods of economic recession and expansion Christiano, Business cycles are created by severe economic and geopolitical shocks and crises.
Examples of events that create turbulence sufficient to move the business cycle include recessions, inflation, war, terrorism, nuclear threats, housing bubbles, drought, disease, pandemics, earthquakes, tsunamis, rising oil-price shocks, Federal Reserve rate hikes, soaring budgets, trade deficits, and falling dollar values.
The shocks and crises that cause economic contraction and recession include both exogenous and endogenous events Navarro, Exogenous refers to change from outside the system and endogenous refers to change from inside the system.
Business-cycle sensitivity varies by industry and product. For example, durable goods manufacturers are sensitive to business cycle while nondurable and "necessary" services are not. In addition, industries that represent the early stages of the production chains are particularly sensitive to business cycles due to the need for businesses to adjust their inventory levels during business cycles Schwartz, Despite the variations in business-cycle sensitivity by industry and product, business cycles are known to depress the strength of the aggregate economy.
Knowing that business cycles reduce long-run growth, governments work to avoid and resolve economic recessions Rafferty, The history of the modern business cycle goes back to the late eighteenth century.
The mid-midieval period of feudalism in Europe was a pre-capitalist period. This period was characterized by manor production with little market exchange and barter with little money and credit. Three specific differences between the pre-capitalist and capitalist economies created the modern business cycle.
Business cycles require market exchange, production for profit, and money to be present in the economy. Thus the first business cycle did not appear until Europe transitioned from feudalism to capitalism.
The first business cycles appeared in England in the s along with industrial capitalism and the Industrial Revolution Sherman, Business cycles, since the late s, have tended to last between two and eight years.
The following section describes the processes of determining and dating the business cycle. This section serves as a foundation for later discussions of managing the business cycle and case studies of business-cycle sensitive industries. The National Bureau of Economic Research published its first business cycle dates in The National Bureau of Economic Research, established inis a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works.
National Bureau of Economic Research associates, including professors of economics and business, develop new statistical measurements, estimate quantitative models of economic behavior, assess the effects of public policies on the U.
The National Bureau of Economic Research established itself as the predominant research organization on the topic of business cycles through the bureau's early research on the aggregate economy, business cycles, and long-term economic growth.
The National Bureau of Economic Research has developed a recession dating procedure.Business Cycles - Business cycles affect all individuals within the population. Whether as part of the general public, consisting of customers and consumers, or as part of the world of business, from small local companies to large multi-national organisations.
Published In: Cycles, growth and structural change: Theories and empirical evidence (, pp. ) Download Paper (pdf) Latest Content from the Minneapolis Fed. Research Paper (pdf): A Classical View of the Business Cycle (Revised October ) (co-authored with Michael T.
Belongia) In the s, Irving Fisher extended his previous work on the Quantity Theory to describe, through an early version of the Phillips Curve, how changes in the money stock could be associated with cyclical movements in output. ** 15 cycles Source: NBER The determination that the last expansion began in June is the most recent decision of the Business Cycle Dating Committee of the National Bureau of Economic Research.
Artificial neural network research papers bickman and milgram street research paper why canada is the best place to live essay. Marlene perez author biography essay. " Employment Multipliers over the Business Cycle" () With Ha Nguyen (Development Research Group, The World Bank), World Bank Policy Research Working Paper Preparing for journal submission.
Preparing for journal submission.