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Entrepreneurial Strategy: Generating and Exploiting New Entries

Error of Comission

the decision to pursue new entry only to fond out later that entrepreneur overestimated his/her ability.

Creating a Resource Bundle that is Valuable, Rare, and Inimitable.

1. Market Knowledge

2.Tehnological knowledge

Cost Advantage

* Assesing the Attractiveness of a New Entry

*Information on a New Entry

First Mover

Advantages

Entrepreneurial Strategy

  • Cost Advantage
  • Less Competition
  • Secure Important Channels
  • Prime position for customers
  • Expertise from participation

1. The generation of a new entry opportunity.

2. The exploitation of a new entry opportunity.

3. A feedback loop from the culmination of a new entry generation and exploitation back to stage 1.

Error of Omission

Less Competition

Managing Newness

Liabilities of Newness: negative implications arising from an organization's newness.

Market Scope Strategies

the decision not to act on the new entry opportunity only to find out later that the entrepreneur underestimated his/her ability.

Assets of Newness: positive implications arising from an organization's newness.

is a choice by the entrepreneur about which customer groups to serve and how to serve them.

Narrow Scope Strategy

Risk Reduction Strategies for New Entry Exploitation

offers a small product range to a small number of customer groups to satisfy a particular need.

refers to the probability, and magnitude, of downside loss, which could result in bankruptcy.

Imitation Strategies

copying the practices of other firms.

Prime Position for Customers

Types of Imitation Strategies:

  • "me too" strategy- e.g mcdo

New Entry

  • Offering a new product to an established or new market, offering an established product to a new market, or new organization.

Secure Important Channels

First Mover Disadvantages

Expertise from Participation

  • Environmental Instability
  • Customer Uncertainty
  • Short lead time

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