BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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imitative new entry
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adaptive new entry
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proactive new entry
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pioneering new entry
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Detailed explanation-1: -An imitative new entry strategy is used by entrepreneurs who see products or business concepts that have been successful in one market niche or physical locale and introduce the same basic product or service in another segment of the market.
Detailed explanation-2: -Opportunity recognition is a process through which entrepreneurs and businesses identify potential methods of growing their ideas or beginning new ventures.
Detailed explanation-3: -(b) Imitative Entrepreneurship implements current techniques from which they copy certain business ideas and improve upon them as to gain an upper hand in the market. Imitative entrepreneurship is characterized by the adoption of exogenously changing technologies.
Detailed explanation-4: -Franchising is a contractual relationship between a licensor (franchisor) and a licensee (franchisee) that allows the business owner to use the licensor’s brand and method of doing business to distribute products or services to consumers.
Detailed explanation-5: -On the other hand, if the concentration is high, it means that top ‘n’ firms influence the production or services provided in the market the industry then is said to be oligopolistic or monopolistic.