1.

What Specific Entrepreneurial Aspects Include The Strategy Formation Process?

Answer»

• searching actively for innovative ways the organization can improve on what it is already doing;

• ferreting out new opportunities for the organization to pursue;

• developing ways to increase the firm’s competitive strength and put it in a stronger position to COPE with competitive forces;

• devising ways to built and maintain a competitive advantage;

• deciding how to meet threatening external developments;

• encouraging individuals throughout the organization to put forth innovative proposals and championing those that have PROMISE;

• directing resources away from areas of low or DIMINISHING results toward areas of high or INCREASING results;

• deciding when and how to diversify;

CHOOSING which businesses (or products) to abandon, which of the continuing ones to emphasizes, and which new ones to enter or add.

• searching actively for innovative ways the organization can improve on what it is already doing;

• ferreting out new opportunities for the organization to pursue;

• developing ways to increase the firm’s competitive strength and put it in a stronger position to cope with competitive forces;

• devising ways to built and maintain a competitive advantage;

• deciding how to meet threatening external developments;

• encouraging individuals throughout the organization to put forth innovative proposals and championing those that have promise;

• directing resources away from areas of low or diminishing results toward areas of high or increasing results;

• deciding when and how to diversify;

• choosing which businesses (or products) to abandon, which of the continuing ones to emphasizes, and which new ones to enter or add.



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