Just as entrepreneurship requires entrepreneurial management, that is, practices and policies within the enterprise, so it requires practices and policies outside, in the marketplace. It requires entrepreneurial strategies.
Of late, "strategy in business" has become the "in" word, with any numbers of books written about it. However, I have not come across any discussion of entrepreneurial strategies. Yet they are important; they are distinct; and they are different.
There are four specifically entrepreneurial strategies.
- "Being fustest with the mostest"
- "Hitting them where they ain't"
- Finding and occupying a specialized "ecological niche"
- Changing the economic characteristics of a product, a market or an industry.
These four strategies are not mutually exclusive. (...)
The Essential Ducker
Peter F. Drucker
Collins Business
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