The shorter the product life cycle, the more important innovation is to an industry or organization.

Question

Quizplus · Accepted Answer

When the product life cycle is shorter, there is less time for a company to make profits from a product, and therefore, they need to constantly innovate and introduce new products to stay ahead of the competition. Thus, innovation becomes more important in industries or organizations with shorter product life cycles.

The Shorter the Product Life Cycle, the More Important Innovation