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Week Five Discussion Board

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Q Discussion Board Question: What is an industry life cycle? How does this affect strategic management? Your response should be at least 250 words long, with at least two references (not Wikipedia) using your textbook and online sources and should be a balance between properly cited references in APA format and your thoughts. I am expecting you provide an analysis of the question. Not just copying and pasting responses. You need to respond to at least two classmates. It is recommended you post your initial response to the discussion board by Wednesday. Your responses to your classmates should be at least 150 words.

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An industry life cycle implies that there will be diversified stages in the maturing of an industry with specific products and/or services being produced and sold in the specific industry (Rothaermel, 2021). The overall behavior of every participant in the target markets of a specific industry will be important to analyze in the analysis of an industry life cycle (Binz et al., 2020). This is because there will be issues with the functioning, growing and maturing of an industry in an industry life cycle.