Many of the assumptions you were taught have turned into five deadly sins. The worship of high-profit margins and premium pricing. They always create a market for the competitor. Don't slaughter tomorrow's opportunity on the altar of yesterday. Feeding problems while starving opportunities.
Opportunities produce results and growth.
Get outside help to reduce problems and damage. You must have a theory of business. You must forge it, and communicate it constantly so everyone understands it and acts on it. The faster the pace of change in your industry, the more important it is to have a theory of business. Charles Handy and Alvin Toffler are much better at communicating a vision about creating successful organizations in a world that is influenced, everyday, by the growing power of the third-wave.