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Entrepreneurial Strategy: Generating and Exploiting New Entr

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by

Reham BG

on 29 November 2014

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Transcript of Entrepreneurial Strategy: Generating and Exploiting New Entr

Entrepreneurial Strategy: Generating and Exploiting New Entries
design by Dóri Sirály for Prezi
Offering a new product to an established or new market, offering an established product to a new market, or new organization.
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.
New Entry
Entrepreneurial Strategy
1. Market Knowledge

2.Tehnological knowledge
Creating a Resource Bundle that is Valuable, Rare, and Inimitable.
* Assesing the Attractiveness of a New Entry

*Information on a New Entry
Error of Comission
the decision to pursue new entry only to fond out later that entrepreneur overestimated his/her ability.
Error of Omission
the decision not to act on the new entry opportunity only to find out later that the entrepreneur underestimated his/her ability.
First Mover
Advantages
Cost Advantage
Less Competition
Secure Important Channels
Prime position for customers
Expertise from participation
Cost Advantage
Less Competition
Secure Important Channels
Prime Position for Customers
Expertise from Participation
First Mover Disadvantages
Environmental Instability
Customer Uncertainty
Short lead time
Risk Reduction Strategies for New Entry Exploitation
refers to the probability, and magnitude, of downside loss, which could result in bankruptcy.
Market Scope Strategies
is a choice by the entrepreneur about which customer groups to serve and how to serve them.
Narrow Scope Strategy
offers a small product range to a small number of customer groups to satisfy a particular need.
Imitation Strategies
copying the practices of other firms.
Types of Imitation Strategies:

"me too" strategy- e.g mcdo
Managing Newness
Liabilities of Newness
: negative implications arising from an organization's newness.
Assets of Newness:
positive
implications arising from an organization's newness.
Full transcript