The study assesses the survival strategies implemented by Harare manufacturing firms during the hyperinflationary period, 2000 to 2008, in Zimbabwe. Literature reviewed indicated that firms implement a combination of cost reduction and decentralization strategies as a way of ensuring that they survive declining markets including hyperinflationary environments. A survey using self-administered questionnaires as data collection instrument was applied on a sample of 100 manufacturing firms in Harare. The research findings show that firms adopted cost reduction financial, marketing and purchasing strategies such reducing or increasing packaging sizes as a way of avoiding price controls; reducing or removing altogether credit periods and decentralizing decision making. The sampled firms attributed their survival to these strategies as they believe without them they would have ceased operations.