Secondly, the domestic portfolio mentality, the pattern that can be identified from the cross-case analysis of the firms' domestic strategies used a portfolio approach to corporate strategy, combined with some elements of restructuring that identified four approaches to corporate strategy: portfolio management, restructuring, and leveraging resources across businesses, via sharing activities and transferring skills. Portfolio management, which is based on a firm's ability to identify and acquire underperforming targets, can create value in undeveloped capital markets, but only if managers are aware that corporate costs have to be less than the modest value added. Restructuring strategy can create a significant amount of value, via improvements to the acquired company and/or industry restructuring, but this value comes from 'one-off actions rather than from continuously creating value. Both strategies are underpinned by broadly similar organizational arrangements—autonomous business units, M-form structures and incentive systems based on outcome financial control. After analysis companies, it showed that corporate strategies resting on portfolio management and restructuring approaches in the domestic market had run their course by the mid 1980s, hence the firms in the study looked to international markets as a platform for further value creation.