Abstract
It is quite common for industries to quickly go from a state of stability to one of decline in today’s hypercompetitive marketplace. In this article, we examine research on organizational and industry decline, a topic often overlooked by researchers and practitioners. In particular, survival guidelines are provided for organizations within declining industries. Also, it is demonstrated how an organization can use such guidelines by examining a single‐sex boarding school that is currently facing such a dilemma. It is hoped that our observations and prescriptions for the boarding school may be helpful to other organizations that may be facing similar decline in their environments.
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