In all the industries in which I do management consulting, each manager considers his own industry to be truly unique. Of course, each is different in some respects, and each has its own quirks and features. However, the similarities among in- dustries far outweigh the differences. The critical dynamics and the management issues have a great deal in common. However, there are, I believe, two industries (or segments of industries) that have an important critical uniqueness that does distinguish them from the rest. One of these is the exploration for undiscovered natural resources, tably for oil and gas; the other is research. In these two in- dustry segments, the competition is t nearly so much one firm against ather as it is each firm against nature, or-if you prefer-against the unkwn. This uniqueness t only sets these two industry segments apart from the rest, it also helps us to see what they have in common with each other: - Pure scientific talent, ability, and genius have direct commercial value. - We do t have the zero sum game of competition in the market place. A discovery by one firm does t usually perceptably lessen the opportunity of a competitor for a discovery. On the contrary, a discovery by one firm usually increases the kwledge of the whole industry, increasing com- petitors' opportunity for discovery. - We see the source of continuing life for the rest of the firm.