Change is a constant. And there is no state of flatline in whatever you do. Whether it be Organization Purpose or goals, Product, Technology, Process, People flatline means you are dead, sunset and irrelevant.
Doing nothing or doing something minimally is not a good strategy. If might work when one survives in a protected industry with little competition. Or when the industry domain is a monopoly or an oligopoly. But sooner or later, change catches up. It is only a matter of time.
Another strategy is "copying the competition" - which is again not really a strategy. Because, one is never the first-mover or market-leader and is always going to be an "also ran".
Another recipe for degradation is "race to the bottom" - the lowest price, the lowest cost coupled with cutting corners and the lowest quality.
You either keep up with the market or grow faster than it. If you are not keeping up, then you obviously you are degrading. Like I have said before "Everything has a half-life"
And the biggest anti-strategy to degradation is the ability to proactively exit before you degrade. And that is a mighty fine art.