1. Why are industries fragmented? What are the main ways companies can turn a fragmented industry into a consolidated industry?

2. What are the key issues in maintaining a competitive advantage in embryonic and growth industrial environments? What are the dangers associated with being the leader in an industry?

3. What investment strategies should be undertaken by: (a) differentiators in a strong competitive position, and (b) differentiators in a weak competitive position, while managing the growth of a company throughout the life cycle?

4. Discuss how firms can use (a) product differentiation and (b) capacity control to manage rivalry and increase the profitability of an industry.