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Critical competitive strategy issues every entrepreneur should consider before going into business

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  • Davis, Alan
  • Olson, Eric M.

Abstract

The topic of formulating and implementing competitive strategy is usually considered from the perspective of a large, well established, and oftentimes multi-divisional corporation. Achieving a sustainable competitive advantage, however, is every bit or even more critical to the survival of smaller startup businesses. Although much research has been performed on how startup companies create value for their constituencies and on how they launch products, few attempts have been made to apply classical large-company strategy ideas to startups. In this paper we consider eleven distinct differences between how large, established firms and their smaller startup counterparts consider strategy initiatives with an eye to guiding entrepreneurs toward higher probabilities of success. The eleven differences are building on market strengths, size of market, relationship to resources, presence of constraints, visibility of and by competitors, investor expectations, shareholder/investor risk tolerance, process, portfolio management, triage, and time horizon for results.

Suggested Citation

  • Davis, Alan & Olson, Eric M., 2008. "Critical competitive strategy issues every entrepreneur should consider before going into business," Business Horizons, Elsevier, vol. 51(3), pages 211-221.
    • Handle: RePEc:eee:bushor:v:51:y:2008:i:3:p:211-221
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    References listed on IDEAS

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    1. Slater, Stanley F. & Olson, Eric M., 2002. "A fresh look at industry and market analysis," Business Horizons, Elsevier, vol. 45(1), pages 15-22.
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    Cited by:

    1. Danijela Stošić Panić, 2019. "The Strategic Choices Of Serbian Entrepreneurs: Are They Entrepreneurially Oriented And Do They Differ By Gender?," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 64(222), pages 147-172, July – Se.
    2. Huatao Peng & L’hocine Walid, 2022. "The Effects of Entrepreneurs’ Perceived Risks and Perceived Barriers on Sustainable Entrepreneurship in Algeria’s SMEs: The Mediating Role of Government Support," Sustainability, MDPI, vol. 14(17), pages 1-22, September.

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