chapter 10 v3 - Entrepreneurship 10 Strategy: Planning for...

Info iconThis preview shows pages 1–9. Sign up to view the full content.

View Full Document Right Arrow Icon
10 Entrepreneurship Strategy: Planning for Competitive Advantage
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
10-2 “In preparing for battle I have always found that plans are useless, but planning is indispensable.” --Dwight D. Eisenhower
Background image of page 2
10-3 Agenda Why new ventures need competitive advantages Specific tactics for entrepreneurs to gain competitive advantages How should new venture develop their strategies Better decision making Market-based modes vs. vertically integrated modes of exploiting an opportunity Strategies for overcoming information asymmetry and uncertainty
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
10-4 Strategy A carefully devised plan of action to achieve a goal or the art of developing or carrying out such a plan
Background image of page 4
10-5 Why Competitive Advantage is Needed Success invites competition Competitive advantage Precludes others from imitating the business idea perfectly Allows the entrepreneur to create barriers and capture the profits from exploiting the opportunity
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
10-6 Barriers to Competition Maintain secrecy Control critical resources Establish legal barriers to imitation Exploit the idea on a large scale Establish a reputation Innovate
Background image of page 6
10-7 It’s a Secret Trade secret—knowledge that confers an advantage and is protected Causal ambiguity— knowing how to exploit the opportunity Tacit knowledge— knowledge that isn’t written down
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
10-8 Legal Monopolies Patents A grant made by a government that confers upon the creator of an invention the sole right to make, use, and sell that invention for a set period of time.
Background image of page 8
Image of page 9
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/08/2010 for the course MGT 450 taught by Professor Zheng during the Spring '10 term at San Diego State.

Page1 / 30

chapter 10 v3 - Entrepreneurship 10 Strategy: Planning for...

This preview shows document pages 1 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online