Forum W5 Topic: Entrepreneurial strategy and competitive dynamics Q: Discuss the four characteristics of an entrepreneurial opportunity. Explain why each is important for the opportunity to be viable....

W5: Topic: Entrepreneurial Strategy and Competitive Dynamics
Q: Discuss the four characteristics of an entrepreneurial opportunity. Explain why each is
important for the opportunity to be viable.
Answer:
Four characteristics of an entrepreneurial opportunity are systematic search, alertness,
idea generation and design thinking. Systematic search falls under the active phase and the
discovery process. In this case, there is more focus on developing the competencies, personality,
and professionalisms. They can quickly identify the underserved area in the industry, and they
can cater that requirement of the industry. Next is the alertness is fallen under the passive phase
and discovery process.
It involves in searching and scanning for any available new opportunity, information and
makes an evaluation of the available information with the new information and it provides new
business opportunity. Idea generation has both active and passive phase that makes use of ideas
from the group or experts along with the self to form the better business strategies. Design
thinking is a passive method in which the entrepreneurs think using ethnographic methods like
observing the market and coming up with innovative ideas for solving the problems. All these
characteristics provide entrepreneurial opportunity in their way.
Reference:
https://books.google.co.in/books?id=p1NuDQAAQBAJ&pg=PT112&dq=four+characteristics+o
f+an+entrepreneurial+opportunity&hl=en&sa=X&ved=0ahUKEwjourLC4rfSAhULlJQKHQ7z
DB0Q6AEIGTAA#v=onepage&q=four%20characteristics%20of%20an%20entrepreneurial%20
opportunity&f=false
https://books.google.co.in/books?id=p1NuDQAAQBAJ&pg=PT112&dq=four+characteristics+of+an+entrepreneurial+opportunity&hl=en&sa=X&ved=0ahUKEwjourLC4rfSAhULlJQKHQ7zDB0Q6AEIGTAA#v=onepage&q=four%20characteristics%20of%20an%20entrepreneurial%20opportunity&f=false
https://books.google.co.in/books?id=p1NuDQAAQBAJ&pg=PT112&dq=four+characteristics+of+an+entrepreneurial+opportunity&hl=en&sa=X&ved=0ahUKEwjourLC4rfSAhULlJQKHQ7zDB0Q6AEIGTAA#v=onepage&q=four%20characteristics%20of%20an%20entrepreneurial%20opportunity&f=false
https://books.google.co.in/books?id=p1NuDQAAQBAJ&pg=PT112&dq=four+characteristics+of+an+entrepreneurial+opportunity&hl=en&sa=X&ved=0ahUKEwjourLC4rfSAhULlJQKHQ7zDB0Q6AEIGTAA#v=onepage&q=four%20characteristics%20of%20an%20entrepreneurial%20opportunity&f=false
https://books.google.co.in/books?id=p1NuDQAAQBAJ&pg=PT112&dq=four+characteristics+of+an+entrepreneurial+opportunity&hl=en&sa=X&ved=0ahUKEwjourLC4rfSAhULlJQKHQ7zDB0Q6AEIGTAA#v=onepage&q=four%20characteristics%20of%20an%20entrepreneurial%20opportunity&f=false
W4: Topic: International Strategy: Creating Value in Global Markets
Q: Explain the difficulties a small company faces when making the decision to internalize.
Answer:
Small companies face more challenges when making the decision to internalize because
they have a lack of resources and facilities like large firms. Small companies cannot quickly
make conglomeration to internalize the risk. Similarly, small companies cannot afford to build
up their in-house capacities for their critical inputs.
Small companies have fewer networks of influence and have less access to the external
market. The other major problem with the small companies is the access to finance that is they
feel difficult to get financial assistance to make such massive investment for internalization.
There is lack of administration efficiencies, coordination and infrastructure facilities to support
the decision for a small company.
Reference: ...