Companies in an emerging industry have wide latitude in experimenting with different strategic approaches.

In a fast-growing market, a company needs a strategy predicated on growing faster than the market average, so that it can boost its market share and improve its competitive standing vis-à-vis rivals.

It is erroneous to assume that companies in a declining industry are doomed to having declining revenues and profits.

A sound way to deal with turbulent market conditions is to try to lead change with proactive strategic moves while at the same time trying to anticipate and prepare for upcoming changes and being quick to react to unexpected developments.

The governing principle underlying an industry leader's use of a stay-on-the-offensive strategy is to be an action-oriented first mover, impatient with the status quo.

The overriding objective of a harvesting strategy is to maximize short-term cash flows from operations.