Prior chapters have emphasized the analysis and options that go into matching a company's choice of strategy to (1) industry and competitive conditions and (2) its own resource strengths and weaknesses, competitive capabilities, opportunities and threats, and market position. But there's more to be revealed about the hows of matching the choices of strategy to a company's circumstances. This chapter looks at the strategy-making task in 10 commonly encountered situations:

1. Companies competing in emerging industries.

2. Companies competing in rapidly growing markets.

3. Companies competing in maturing industries.

4. Companies competing in stagnant or declining industries.

5. Companies competing in turbulent, high-velocity markets.

6. Companies competing in fragmented industries.

7. Companies striving to sustain rapid growth.

8. Companies in industry leadership positions.

9. Companies in runner-up positions.

10. Companies in competitively weak positions or plagued by crisis conditions.

We selected these situations to shed still more light on the factors that managers need to consider in tailoring a company's strategy. When you finish this chapter, you will have a stronger grasp of the factors that managers have to weigh in choosing a strategy and what the pros and cons are for some of the heretofore unexplored strategic options that are open to a company.