From the list of grand strategies that Dr. Simon mentioned in his lecture, I will focus mainly on market growth. Market growth is a low-risk strategy compared to other, more encompassing, strategies. Instead of investing in research and development to create new product offerings, the market-growth strategy focuses on growing the market for a current product. An example of this is an electronics company that develops markets for an existing stereo system instead of developing a new system. To develop new markets it may be necessary to sell stereos in other markets as time passes, such as in foreign countries that are less technologically developed.