Strategic Management: Formulation and Implementation

Industries Change

Industry structure change, often in fundamental ways. Moreover, some industries go through evolutionary phases or stages development, growth, shakeout, maturity, saturation, and decline, the so-called industry/product life cycle. Industry conditions change because some forces are in motion that create incentives or pressures for change.

There are numerous types of driving forces which can exist to produce evolutionary change in an industry:

The driving forces work to push the current industry structure into a new structure and they usually create new kinds of competitive pressures - both of which have implications for business strategy.