phase-out

Vocabulary Word

Definition

'Phase out' means to gradually stop using something or doing something, often to be replaced by another thing. It's like replacing your old cellphone with a newer model over time.

Examples in Different Contexts

In technology, companies often phase out older software versions as new updates are released. A tech CEO might comment, 'Phasing out the older software ensures our users benefit from the latest features and security updates.'

Practice Scenarios

Business

Scenario:

The profits of our conventional product line have been diminishing. Perhaps, it would be wise to focus on emerging markets and technologies.

Response:

In view of this, it would be apt to start a phase-out process for the old product range.

Impact

Scenario:

Continued reliance on plastic poses significant environmental risks. It's high time we innovate and find eco-friendly alternatives.

Response:

Agreed, we need to phase out our plastic consumption and switch over to more sustainable materials.