Understanding declining industries and management during decline

This chapter provides an overview of the research on industry decline and outlines different ways in which decline can be managed. The topic is approached from multiple perspectives in order to first define what is industry decline and what different classes of decline there are. Thereafter the chapter proceeds to analyze different causes and processes that are related to industry decline. Together these insights provide an overview of how existing research understands industry decline as a phenomenon. These ideas are then complemented by an analysis of how decline can be managed on the industry and company levels. The chapter concludes with a framework that summarizes the key ideas.