Dominance Strategy: The book emphasizes the importance of pursuing a dominance strategy in business rather than just aiming for competition. Being the "elephant" signifies establishing a strong market presence and becoming the leader in your industry.

Strategic Thinking: Kaplan highlights the significance of strategic thinking and planning for businesses to attain and maintain a dominant position. This involves long-term vision and comprehensive planning.

Value Creation: It emphasizes the creation of value for customers as a crucial aspect of dominance. Businesses need to constantly innovate and provide value that sets them apart from competitors.

Execution Excellence: Beyond strategy, the book emphasizes the importance of execution. Consistent and excellent execution of plans and strategies is essential to achieve and retain dominance.

Market Understanding: Understanding the market thoroughly is crucial. Businesses need to comprehend customer needs, industry trends, and competitive landscapes to stay ahead.

Leadership and Culture: Strong leadership and a culture that supports innovation, adaptability, and customer-centricity are vital for becoming and remaining the "elephant" in the industry.

Adaptation and Evolution: Kaplan stresses the importance of being adaptable and flexible in a rapidly changing business environment. Businesses that can evolve with the times are more likely to maintain their dominance.

Risk Management: While taking calculated risks is important for growth, the book also emphasizes the need for prudent risk management to avoid catastrophic failures.

Sustainable Growth: The book advocates for sustainable growth strategies that allow businesses to expand without compromising their core values or risking instability.

Continuous Improvement: Businesses should constantly seek opportunities for improvement and innovation. This mindset ensures continued growth and dominance in the market.