Identify and clearly distinguish between the four strategic options available to firms in a ...

 The four major strategic options available to firms in a declining industry are leadership, niche, harvest and divestment. One strategy is for a firm to position itself to become a market leader in the pre-shakeout industry by becoming the firm with the largest market share in that industry. The purpose of becoming the marker leader is to facilitate the exit of firms that are not likely to survive a shakeout. A firm following a niche strategy in a declining industry reduces its scope of operations and focuses on narrow segments of the declining industry. Firms pursuing a harvest strategy engage in a long, systematic, phased withdrawal, extracting as much value as possible during the withdrawal period. Finally, firms pursuing divestment extract a firm from the declining industry, but do so soon after a pattern of decline is established in an industry.

I wanna give this person a hug.