Factors and Impacts of Driving Industry Change:

1.  An industry’s present conditions do not necessarily reveal much about the strategically relevant ways in which the industry environment is changing.

2.  All industries are characterized by trends and new developments that gradually or speedily produce changes which is  important enough to require a strategic response from participating firms.

3.  The popular hypothesis that industries go through a life cycle of takeoff, rapid growth, early maturity, market saturation, and stagnation or decline helps explain industry change – but it is far from complete.