(B)  GROWTH PHASE:  (Reliance, Tatas; Dow Chemicals)
              •   Penetrate and acquire High Market Share
              •   Launch new products, expand market presence
              •   Scout for opportunities to enter into new business
              •   Exploit resource capabilities & internal advantages
              •   Look for potential firms for acquisitions
              •   Aggressively pursue R & D capabilities
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     (C)  MATURITY PHASE:  Replacement Demand
                           Attracting new Buyer
                           e.g. FMCG Industry
     • Prune down Product lines having low profit margins
     • Improve Value Chain Capabilities (Better Services, Low Costs)
     • BPR & HR Driven Cost Reduction
     • Increase sales to existing customers  Complimentary product offerings
     • Expand Internationally  Limited competition
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         (D)  STAGNANT/ DECLINING PHASE:
         •  Focus on those industry segments growing rapidly
         •  Differentiation based on successful innovation
         •  Aggressive Cost cutting Measures
         •  Finally, if perceived as unviable business
             • Sell out the Firm
             • Close Down Operations
                                           Divest/ Harvest
             • Diversify into other areas
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     SAMPLE FORMAT FOR DRAWING STRATEGIC ACTION PLAN:
                                    SUPPORT/ FUNCTIONAL 
     1. VISION/ MISSION              STRATEGIES
     2. OBJECTIVES                  • Marketing
     3. OVERALL BUSINESS            • Finance
        STRATEGY                    • HR
                                    • Operations
                                    Actions to Improve Performance
                                    • Immediate
                                    • Long Run
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   TRADITIONAL GRAND STRATEGIES:
   The grand strategies provide an indication as regards the strategy options available 
   for firms – depending on the environmental condition and life cycle of the industry
   Traditional and commonly pursued grand strategies comprise the following:
     (A) GROWTH STRATEGY: Firms strive towards enhancing growth rate – 
       accelerating increase in market share, market reach an access market 
       penetration  AS FEASIBLE
     (B) STABILITY CRITERIA: Firms work towards stabilizing and systemizing 
       operations to the extent feasible – Stabilize operations and remain competitive
     (C) INNOVATIVE PHASE:
        •  AGGRESSIVE R & D ACTIVITIES
        •  NEW PRODUCT DEVELOPMENT
        •  TECHNOLOGY ADVANCEMENT
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