Industries evolve through life cycle stages because
A) firms develop new knowledge about how to create value.
B) demand for the industry's products and services grows.
C) companies constantly enter and leave the industry.
D) Both A and B above are fundamental determinants of industry evolution.

Question

Quizplus · Accepted Answer

Industries evolve through life cycle stages primarily because firms develop new knowledge about how to create value (A) and because demand for the industry's products and services grows (B). These factors drive changes and transitions in the industry over time.

Industries Evolve Through Life Cycle Stages Because