Management Entrepreneurial Strategy and Creativity

1. Find three examples of firms that pioneered a new

product in a new market and were able to achieve long- run success based on that entry. Find three examples of firms that were not pioneers but entered later to eventually overtake the pioneer as market leader. In your opinion, why were the successful pioneers successful, and why were the unsuccessful ones unsuccessful?

2. Come up with five examples of firms that have used imitation as a way of reducing the risk of entry. What aspects of risk was imitation meant to reduce? Was it successful? What aspects of the firm were not generated by imitation, made the firm unique, and were a potential source of advantage over competitors?

3. Choose a product and use the checklist method to develop new ideas. Be prepared to discuss your product and the three most creative ideas generated.

4. Choose three different products that you might be interested in purchasing and that are sold on the Internet. For each product, visit three websites and go through the process as if you were going to actually purchase the product. Which website was the best? Why? Which was the worst? Why? If you could create the perfect websites, what features would it have?

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