Only a few of the Entry Strategies have been profiled above. Read Chapter 3 in your Handbook to make sure you are familiar with each of the strategies listed. B. Business Strategy Above we discussed some New Venture Entry Strategies, now we will look at some Business Strategies. The following questions should be answered and used as part of your planning process. Read Chapter 4 before continuing this section of the course.
Innovative opportunities abound in both new and traditional industries.
Your ability to identify fads, spot trends, and predict where they are heading will help measure your success as an entrepreneur. It is important to recognize, monitor, and stay abreast of trends as well as technological, social, and attitudinal changes. The most successful venture opportunities exploit change. Personal Shopping and Errand Services Globalization - Global opportunities are created as trade barriers fall, markets expand, and communications improve. These falling trade barriers open up market opportunities thereby creating a larger base from which to draw more customers.