This idea is the
heart and soul of Naval
tactics. The basic
rule of thumb is this: The first hit and/or the largest force will always win. In naval battles, especially when using the big guns of
battleships, it is just a matter of
staying power and
striking power.
Look at it this way: two equal forces go into battle, who ever gets the first hits in will win. If force A sends over a volley and scores some hits. Force A has damaged force B (and possibly reduced B's capacity to fight) with no damage to themselves. Now force B returns fire and the battle begins. But since both forces were equal we assume they are both being worn down at the same rate. Since force B was damaged first it will be the first to be disabled, but not before doing significant damage to force A.
There have been exeptions to this rule. The Battle of Jutland in WWI and the battles to sink the Bismarck in WWII.