Explain the product life cycle

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Reference no: EM132918905

Please answer these business questions:

1.Explain the product life cycle and discuss how it leads to introducing new products.

2.Explain four reasons for increasing the social responsibility of business.

3.Identify each of the four steps in the managerial decision-making process.

4.Explain a sales forecast and explain why it is important to the sales department as well as to the people who handle materials, inventory, finished goods, hiring, and advertising.

5.Identify and describe the four basic organizational structures (not the forms of business ownership).

Reference no: EM132918905

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