"Rules of the game" in strategic management

I have come across this term often; the literature, e.g. in hypercompetition theory, mentions that whenever some company develops an original business model to compete in a specific market place, this leads to market disruption and the rules of the game have changed.

I think the term refers to the following viewpoint:

a. Companies in a specific industry have shared understanding about the nature of the competitive environment, which lead them to have shared understanding of what are the effective ways to compete and collaborate with companies (as well as other stakeholders) that participate in the industry.
b. Over time, these "effective ways" play the game (e.g. game of competition in the marketplace) become industry norms. They define what are the appropriate behaviours by the stakeholders of the industry toward each other. They cover business and functional strategies, value chain configurations of a company.

While each company has its game plan to compete in the marketplace, it is expected to also follow certain conventions and shared rules when competing in the industry concerned. If the company does not follow the prevailing shared rules of the game, the participants in the industry become confused and also, in turn, need to consider to review their own game plans critically. As a consequence, market disruption takes place; some companies will gain competitive advantages while others will lose them. A chain reaction of attack and defence initiatives by various competitors result once the rules of the game are broken. This condition of market disruption is explained in the literature of hypercompetition.