BCG History: 1976

Writing New Chapters in the "Physics" of Business

In the Perspective "The Rule of Three and Four," Henderson adds to the expanding body of business and market dynamics he's enunciated with the empirical observation: "A stable competitive market never has more than three significant competitors, the largest of which has no more than four times the market share of the smallest." A competitor with less than one-quarter the share of the market leader cannot be effective.

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