September 2004
Intermediate to advanced
312 pages
6h 56m
English
One of the most vexing problems for a successful firm is to figure out how to grow out of the niche that brought it its success. Your firm might enter a new business either by creating (shaping) a new market or entering an existing market (adapting).[1] You will, of course, recognize this constitutes a choice between demand risk and competitive risk. Other than creating a new industry (which we discuss in Chapter 9, Strategies to Shape Markets: Products, Process, and Platform, which has its own set of risks), most firms that try to grow out of their original niches have to consider entry into an established market. Unfortunately, a lot of firms do not apply the same principles in the new ...