Cyclic thermodynamic processes can be either reversible or irreversible, with real-life systems typically exhibiting irreversible characteristics due to factors like friction and finite speeds. While a system undergoing an irreversible cyclic process can return to its initial state, the surrounding environment will experience changes, leading to an increase in entropy. Reversible processes are idealizations used to calculate maximum efficiencies, while irreversible processes reflect actual conditions. The discussion highlights that even though the working fluid may return to its original state, the overall entropy of the universe increases during irreversible processes. Understanding these distinctions is crucial for grasping thermodynamic principles.