This book focuses on the challenges faced by defense-related industries and by the US Department of Defense in the post-Cold War era: by the former in enhancing their financial well-being, and by the latter in maintaining affordable national security. It explores the conditions they face, both currently and in the future they envision, as well as the corporate strategies and public policies that each develops in response to these conditions and visions. The contributors to this book describe these corporate strategies and public policies, assess their respective strengths and weaknesses, and where appropriate, endorse them or recommend alternatives. Finally, senior executives from ten small and large defense-related firms recount their experiences in diversifying successfully into commercial markets and the challenges they met or still face in planning and implementing their strategies effectively.