how strategic entrepreneurship helps firm create value. Strategic entrepreneurship is taking entrepreneurial actions using a strategic perspective. In this process‚ it involves simultaneous opportunity-seeking and advantage-seeking behaviours that will results in superior firm performance. So‚ identifying opportunities to exploit through innovations is the entrepreneurship dimension of strategic entrepreneurship and it is important things nowadays for firm in order to compete and survive in the
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1) What are the pros and cons of Abgenix’s collaborating with a partner on ABX-EGF? Before a new drug can be released to the market‚ it has to undergo a regulatory process. To complete the process‚ first the drug company (the sponsor in the process) has to submit information to prove that the drug is safe and effective. Pre-clinical data first has to be submitted before clinical trials can be conducted. After demonstrating the safety and efficacy of the drug through successful clinical trials
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whether and why firms that entered China and India succeeded or failed. The most important findings are rather counterintuitive: Smaller firms are more successful than larger firms‚ and firms entering more open emerging markets have less success. Other findings are that success is greater with earlier entry‚ greater control of entry mode‚ and shorter cultural and economic distances between the home and the host countries. Importantly‚ with or without control for these drivers‚ firms have less success
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of producing on a large scale. When firms and industries increase the scale of their operation there can be advantages which reduce the average (unit) cost of their output. Internal economy of scale is the benefit‚ in the form of lower average costs‚ which a firm can gain from increasing its size. Internal economies of scale arise from the growth of the firm itself. One internal economy of scale can be marketing economies. For food retail industry‚ large firms such as Tesco or Sainsbury can save
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products). Collectively‚ opportunities and threats affect a firm’s strategic actions. The external environment influences firm as they seek strategic competitiveness and the earning of above-average returns. The external environment is filled with uncertainty. Firms must be aware of and fully understand the different segments of the external environment to handle this uncertainty. Firms have to acquiring information about competitors‚ customers‚ and other stakeholders to build their own base of knowledge
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Society 2.10 Summary 2.11 Keywords 2.12 Further Readings A firm is a social institution. Its very existence is dependent upon its harmonious relationships with various segments of the society. This harmonious relationship emanates from the firms positive responsiveness to the various segments and its closely associated with the tasks a manager is expected to perform. The process of evolving this mutual relationship between firms and various interest groups begins by acknowledging the existence
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Strategic competitiveness is something that is achieved by a firm when they have successfully implemented a value-creating strategy. Here‚ strategy refers to an integrated actions that are designed to help a firm gain advantage between competitions. Competitive advantage refers to when a firm implements a strategy which cannot be duplicated or found too costly to imitate. Hence‚ this would lead to above-average returns which are the returns in excess of what an investor expects to earn from other
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one of the following statements about trend analysis is NOT correct? | It allows management to examine each ratio over time and determine whether the trend is good or bad for the firm. | | All of these are true statements. | | The Standard Industrial Classification (SIC) System is used to identify benchmark firms. | | This benchmark is based on a firm’s historical performance. | | | Question 2 | | Coverage ratios: Sectors‚ Inc.‚ has an EBIT of $7‚221‚643 and interest expense of
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SI422 Midterm Review Guide Module #1: Introduction____________________________________________________________________ Operational effectiveness -The extent to which a firm performs similar activities better than rivals -Necessary but NOT sufficient for long-term competitive advantage Strategy -Refers to performing different activities from rivals or performing them in a different way -Choose the right configuration of activities‚ incentives‚ systems. -Make the right trade-offs -Strategy
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of seeking out new advantages and struggling with rivals to protect them. 7. Stability is valued in most companies‚ not change. Protecting old ideas and techniques becomes the preoccupation‚ not creating new ones. The long-term challenge for any firm is to put itself in a position where it is most likely to perceive‚ and best able to address the imperatives of competitive advantage. Expose a company to new market and technological opportunities that may be hard to perceive. Preparing for change
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