Growth can never be taken for granted. There is no such thing as a growth industry - growth is a matter of being perceptive enough to spot where future growth may lie.
History is filled with companies that fall undetected into decay because:
- they assume that the growth in their particular market will continue for as long as the population grows in size and wealth
- they believe that a product cannot be surpassed
- they tend to put faith in the ability of improved production techniques to deliver lower costs and, therefore, higher profits.
