Companies need to take specific decisions as to what strategy they are going to implement when the industry slowly goes to the declining stage. There are four specific types of strategies a company can take when the industry is in the decline stage. They are:
Leadership, Niche, Harvest, Divestment.
The position the company is currently in the market is going to be the main determinant of what exact strategy is the company going to take. Looking at the internal strength of the company and the strength of the competitors, the managers need to decide the overall direction the company is going to go on.
Industry Life Cycle:
Strategies in Matured Industries:
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Levels of Strategies In Strategic Management Explained:
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What is chasm and how to cross the chasm:
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