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Stages of Industry Life Circle
Name
Institution
Oil well equipment:
Oil is a non-polar neutral chemical substance that becomes viscous at ambient temperatures and is both lipophilic and hydrophobic. The substance has high hydrogen and carbon content and usually surface active and flammable. Since natural resources cannot be increased or decreased as per man’s wish, the resources are fixed. So oil well equipment industry is on the maturity, with slower growth further.
Computer hardware:
Computer hardware industry is in the growth phase since more and more technological know-how is attained by even common people. Small schools in remote villages also educate through computers, so there is an increase in demand for computers. Sales are also being increased to meet the demands at affordable rates.
Computer software:
This software is said to be in maturity phase, since already so many apps are available, and people are no longer ready to install more apps (HALL et al., 2011). Mobiles also have this facility, and hence there may not be much demand for the software unless some innovative software applications are installed.
Genetic engineering:
This is in a growth phase, as new diseases are coming to children. Children of today suffer from birth onwards so many diseases, whose names would not have been known also 30 years back (Belluck, 2018). This leads to more steady about this to prevent and treat these diseases. So this industry is in growing stage.
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