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What is a new business?
Corporate Growth Strategy Matrix
New Markets Market Focus Current Markets E M ar ket D evelopme nt St r at egy M ar ket Penet r at ion St r at egy Diver sificat ion St r at egy Pr oduct D evelopme nt St Product r at egy
Focus “When a company finds itself dealing with new categories of customers and selling them products or services that are new to the firm” E Venturing Corporate
Market Creation *New Market Market Extension Existing Market T he D omain of a N ew Business B usiness New B usine ss Market Focus of the Entrepreneurial Initiative Exist in Existing g Product in urrent BCusine Industry * The point of reference for new is new to the firm ss Product Extension in Current Industry Product Focus of the Entrepreneurial Initiative *New Product in Current Industry New Industry Entry and/or Creation E Venturing Corporate
M otives for Cor por ate Ventur ing L ever aging – t o exploit existing competencies in new pr oduct or mar k et ar enas m ar L ear ning – t o acquir e new k now ledge a nd sk ills that may be useful in existing pr oduct or mar k et ar enas existing E Venturing Corporate
L ever aging T o exploit under -utilized r esour ce T o extr act fur ther value fr om existing r esour ces T o intr oduce competitive pr essur e onto inter nal supplier s T o spr ead the r isk and cost of p r oduct development T o divest non-cor e activities Corporate Venturing E L ear ning T o lear n about the pr ocess of v entur ing T o develop new competencies T o develop manager s Corporate Venturing
Cor por ate ventur ing...
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- Spring '10