For niche companies, years of growth can quickly turn into losses when facing industry consolidation, and a wobbly economy is only increasing the peril. As Fritz Kroeger, Andrej Vizjak and Mike Moriarty write in this adaptation of their recent book, Beating the Global Consolidation Endgame: Nine Strategies for Winning in Niches (McGraw-Hill, 2008), long-term success is reserved for niche companies that truly understand the playing field.

Do you compete against a company? Or against its scale? In today's ever-consolidating, ever-internationalizing, ever-scaling business environment, your competitors' greatest strengths may reside in their size just as much as in their people, products and strategies. Choosing the right kind of growth will play a significant role in the quest for long-term profitability.