Read chapter $6$ in the class text, and respond to the following:

$1.$ State and discuss in detail, the business strategy that offers growth in revenues, and profits by discovering or inventing new industry segments that create altogether new demand. Support your response with one or two real$-$life examples.

$2.$ State and discuss in detail, a managerial decision$/$strategy that involves narrowing the firm's boundaries with respect to its participation in value chain activities. Additionally, explain the rationale $($the objective$)$ for the firm's decision to narrow its participation in value chain activities.

$3.$ State and discuss in detail, a concept that allows a firm to participate in multiple stages of an industry's value chain. Provide a real$-$life example to support your response.