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ABSTRACT:
INTRODUCTION
Compared to established firms, entrepreneurial firms face many challenges that diminish their
likelihood of success and survival. (Stinchcombe and March 1965) Specifically, entrepreneurs
lack resources; they may not have well-accepted markets for their products and services; and
they often operate in highly ambiguous contexts. Research on entrepreneurial strategy is largely
focused on dealing with these unique challenges. For example, scholars have shown that
entrepreneurs either undertake resource acquisition strategies to convince other organizations to
partner with them or give them money, or they recombine rejected elements from their
environments to ‘make do’ within constraints. They have also shown that entrepreneurs
enact market creation strategies to draw attention to their novel activities, establish
infrastructures for economic exchange, and help people understand why a new market is
warranted. Finally, they engage in learning/adaptation strategies to deal with ambiguity so they
can move quickly past less attractive opportunities and then select and exploit more valuable
ones.
Starting from innovative sources, an entrepreneur can opt for one of the four big ones types of
entrepreneurial strategies:
1. throwing all resources into the battle
2. hitting the free zones
3. finding and occupying an ecological breach
4. changing the economic characteristics of a product, markets or sector, strategy innovations
depending on the situation, the entrepreneurial behavior and the inherent risks of a particular
occasion
It is the entrepreneur's strategy by excellence, starting from the idea that it is aimed from the start
to supremacy or even dominance of the new market and the new sector. While enjoying wide
popularity among entrepreneurs, throwing all resources into the battle is the least predictable and
risky strategy;