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Error of Comission
the decision to pursue new entry only to fond out later that entrepreneur overestimated his/her ability.
1. Market Knowledge
2.Tehnological knowledge
Cost Advantage
* Assesing the Attractiveness of a New Entry
*Information on a New Entry
First Mover
Advantages
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.
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.
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.
copying the practices of other firms.
Prime Position for Customers
Types of Imitation Strategies:
Secure Important Channels
First Mover Disadvantages
Expertise from Participation
design by Dóri Sirály for Prezi