1 . Why are industries fragmented? What are the primary ways in which companies can turn a fragmented industry into a consolidated industry? 2 . What are the key problems in maintaining a competitive advantage in embryonic and growth industry environments? What are the dangers associated with being the leader in an industry? 3. What investment strategies should be made by: (a) differentiators in a strong competitive position, and (b) differentiators in a weak competitive position, while managing a company's growth through the life cycle? 4. Discuss how companies can use (a) product differentiation and (b) capacity control to manage rivalry and increase an industry's profitability