Strategy for Start-ups: The Entrepreneurial Strategy Compass

Start-up Companies
Knowledge Center

 
Start-up Companies > Best Practices

Jaap de Jonge, Editor, Netherlands
In order to help entrepreneurs choose the right strategy by guiding their imagination and commitment toward the realization of their idea(s), Joshua Gans, Erin L. Scott and Scott Stern developed a very interesting new framework they named: "The Entrepreneurial Strategy Compass". Their compass categorizes strategic opportunities for new business ideas along 2 axes:
  • Attitude toward incumbents*: Collaborate or Compete?
  • Attitude toward the innovation: Build a moat** or Storm a hill?
Confronting these 2 dimensions with each other results in a matrix with 4 distinct strategies:
  1. INTELLECTUAL PROPERTY STRATEGY: Maintain control of the innovation and find a way to create value within the existing marketplace. Focus on , idea creation (research) and development and avoid the costs of a large operation/organization. Examples: Dolby, many biotechnology start-ups, Qualcomm, Getty Images.
  2. VALUE CHAIN STRATEGY: Focus on creating val (...) Read more? Sign up for free

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in


  srinivas, Lecturer, India
 

Entrepreneurial Strategy Compass and the Customers

This framework focuses on the strategy for the ent (...)

  Jaap de Jonge, Editor, Netherlands
 

Customers in Entrepreneurial Strategy Compass

@: You're right to mention that the customer side (...)

  Rahatullah, Effat University, Professor, Saudi Arabia
 

Strategy Compass - Practicality

An excellent illustration and tool to cope with th (...)

 
More on Start-up Companies
Summary
Forum
🔥Genchi Gembatsu - Go Out and Talk to Customers
4 Sources of Sustainable Growth and 3 Engines of Growth for Startups
The Three A's of Metrics for Validated Learning of Lean Startups
Best Practices
Strategy for Start-ups: The Entrepreneurial Strategy Compass
5 Development Stages of Small Businesses and Start-ups (Churchill and Lewis)
Creating the Foundation for a Later Success Culture in Start-ups
Pitfalls in Financial Planning of Start-ups
The 4 Main Tensions in Start-ups
Why Start-ups Prefer Short-term, Internal Financing
Heavy Competition is Beneficial for Startups
Start-Ups Must Be Socially Beneficial
Life Cycle of New Venture. Growth and Transitions
Special Interest Group Leader

Are you an expert in Start-up Companies? Sign up for free


Start-up Companies
Knowledge Center

 


About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.6 - Last updated: 4-12-2020. All names of their owners.