Not a simple situation.
(a) first off, if the runway has a terrain problem in the overshoot, can you go someplace else .. either another, more benign runway, or a different airport ?
(b) if you propose to adopt the takeoff OEI procedure, how are you going to position yourself appropriately for tracking ? This is probably a lot easier these days with GPS to assist. Maybe you need to increase the minima to account for this so that you aren't trying to miss the rocks when you aren't all that sure just where you are ? Do you have the data and skills to do the sums .. ahead of the operation ?
(c) if you propose to follow the miss, then you had better be sure about the obstacle clearances if there is any terrain of note. Similar comments to (b) apply here as well.
(d) with an ILS, some would adopt the land anyway approach to the problem if there is no better option to commencing the approach.
The better operators will have had their ops engineers address this problem and publish recommended escape procedures where necessary for the particular runway.
The worst strategy is to have none .. and then worry about it just after you have pushed the throttles up for the miss ... but, then again, if you don't have a strategy ahead of time ... you probably wouldn't see any problem worth worrying about during the miss ?