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Since its introduction by management guru Peter F. Drucker (1909-) in the mid-1960s, the term "cash cow" has taken on a variety of related meanings. Drucker used the term to describe a business or product line with large market share in a stagnant or declining market. Consequently, Drucker coined the term to refer to the process of ceasing to invest in such a business or product line when the market declines past a certain point and discontinuing it when it stops yielding a profit. Hence, Drucker's "cash cow" designates a product or business that can yield profits reliably for a limited number of years without further investment and with little attention and maintenance.

The term "cash cow" also has its origin in a matrix developed by the Boston Consulting Group, in which enterprises are classified as having positions in either a growing or shrinking market, and with...