“40 or 50 years ago, product life cycles ranged from five to 10 years. You could introduce a product and expect to get up to 10 years of good profits where your competitors will not catch up. But these days, you see competitors launching new products within one or two years. The product lifecycle has collapsed . . . this means that the rule for survival is innovate, innovate, innovate.”
- John Steen, Senior Lecturer in Strategic Management, University of Queensland
