After reading this chapter, you should have a good understanding of the following learning objectives:
LO 8.1 | The role of opportunities, resources, and entrepreneurs in successfully pursuing new ventures. |
LO 8.2 | Three types of entry strategies—pioneering, imitative, and adaptive—commonly used to launch a new venture. |
LO 8.3 | How the generic strategies of overall cost leadership, differentiation, and focus are used by new ventures and small businesses. |
LO 8.4 | How competitive actions, such as the entry of new competitors into a marketplace, may launch a cycle of actions and reactions among close competitors. |
LO 8.5 | The components of competitive dynamics analysis—new competitive action, threat analysis, motivation and capability to respond, types of competitive actions, and likelihood of competitive reaction. |