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Specific Characteristics
Strategy is about creating
strategic options and making
strategic choices. You have a
strategy if you can point to the
options you have chosen among
and explain why you made the
choice you did.
Entrepreneurial strategy is
about inventing the future and
making breakthrough choices
among realistic options to use
your capabilities and resources
to achieve your entrepreneurial
vision and pursue
entrepreneurial opportunities.
Specific Seeds
A
high-potential invention, a
promising business idea, or an
entrepreneurial opportunity are
usual starting points for
developing entrepreneurial
strategies. These starting
points are usually characterized
by a fuzzy front end and require
experimental implementation
strategies.
Specific Needs
Entrepreneurial firms need to be
fast to market with a disruptive
product in order to stand out
from the competition. The
ability to surprise and create a
new market niche is a hallmark
of entrepreneurial strategists.
Specific Methods
Strategic entrepreneurial
simulation games, such a
InnoBall, help disruptive
entrepreneurs to deal with the
fuzzy front end effectively and
strengthen entrepreneurial
strategies. Beta-testing of new
products helps reinvent
entrepreneurial strategies based
on the market feedback obtained.
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