To survive going into the Maturity phase of the industry life cycle, a firm needs to

Question

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Emphasizing cost efficiency is essential in the maturity phase of the industry life cycle as competition increases and profit margins decrease. Cutting production costs while maintaining quality can help firms stay competitive and profitable. Outsourcing production, getting rid of research and development staff, and cutting wages may not necessarily lead to cost efficiency and can even harm the company's reputation and workforce morale. Therefore, the best choice in this situation is to emphasize cost efficiency.

To Survive Going into the Maturity Phase of the Industry