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International Entrepreneurial Opportunities

The document discusses various aspects of entrepreneurship and business models. It discusses how Breeze technology created a shoe that pumped air out to ventilate the foot and remove odor, protecting it with a patent. This created a valuable, rare and inimitable resource bundle giving them a competitive advantage. It also discusses how entrepreneurs' market knowledge and technological knowledge helps them recognize new opportunities by understanding customer needs. Their prior knowledge and information search helps assess the attractiveness of new entry opportunities. The document outlines different market scope strategies - a narrow scope strategy focusing on a small customer group with superior quality, while a broad scope strategy offers more products and services to a large number of customers where there is already market demand

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22 views

International Entrepreneurial Opportunities

The document discusses various aspects of entrepreneurship and business models. It discusses how Breeze technology created a shoe that pumped air out to ventilate the foot and remove odor, protecting it with a patent. This created a valuable, rare and inimitable resource bundle giving them a competitive advantage. It also discusses how entrepreneurs' market knowledge and technological knowledge helps them recognize new opportunities by understanding customer needs. Their prior knowledge and information search helps assess the attractiveness of new entry opportunities. The document outlines different market scope strategies - a narrow scope strategy focusing on a small customer group with superior quality, while a broad scope strategy offers more products and services to a large number of customers where there is already market demand

Uploaded by

S H A S H I
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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International

Entrepreneurial
Opportunities
New Entry
Offering a new product into an established or a new
market

Offering an established product to a new market

Creating a new organisation


Resources as a source of competitive
advantage
Resources: The inputs into the production process

e.g. machinery, financial capital and skilled employees

Resources must be valuable, rare and inimitable

Firms need to have a ‘bundle of resources’ to gain


competitive advantage
Bundle of Resources
Breeze technology created a show that pumped air out
of the shoe

It ventilated people’s foot

Removed foot odor

Protected it with a patent

It was valuable, rare and inimitable

Created blue ocean


Entrepreneurial Resource
The ability to obtain and then recombine resources
into a bundle that is valuable rare and inimitable is an
entrepreneurial resources

Not industry leaders but outsiders generally come up


with such as a resource

Knowledge and experience in real life circumstances


helps more in innovation rather than textbook
knowledge
Market Knowledge
Entrepreneur’s possession of information, technology,
know-how and skills that provide insight into a
market and its customers

This helps in providing a solution for customer


dissatisfaction

Entrepreneurs who lack the knowledge of


understanding customers attitude and behavior are
less likely to recognize opportunities
Technological Knowledge
It is also a basis for generating new entry
opportunities

Computer, Smartphones are great examples


Assessing the attractiveness of a
new entry opportunity
Prior Knowledge and Information search

Window of opportunity

Error of commission- Negative outcome from acting

Error of omission- Negative outcome from not acting


Entry strategy for new entry
exploitation
First movers develop a cost advantage

First movers face less competitive rivalry

First movers can secure important channels

First movers are better positioned to satisfy customers

First movers gain expertise through participation


Disadvantages
Demand uncertainty

Technological uncertainty

Unknown political condition

Customer uncertainty

Switching cost
Market scope strategies
Narrow scope strategy offers a small product range to
a small number of customer group

Differentiation from large firms, reduces competition

Superior product quality within a limited frame for


the customer

Don’t have to worry about volume focus on bettering


quality
Market scope strategies
Broad-Scope strategy: Offers a product a large
number of customers

More products and services to be supplied

More profits

There is already a market demand


9 Building Blocks Of A Business Model

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