|
|
This is only a preview of the paper
Click here to register and get the full text.
Existing members click here to login
|
|
|
Emerging and High Growth Industries: Issues "Emerging Industries are newly formed or re-formed industries that have been created by technological innovations, shifts in relative cost relationships, emergence of new customer needs, or other economic, sociological changes that elevate a new product or service to the level of a potentially viable business opportunity. The essential characteristic of an emerging industry from the viewpoint of formulating strategy is that there are no rules to the game. The competitive problem in an emerging industry is that the rules must be established such that the firm can cope and prosper under them". Michael Porter, Competitive Strategy, Free Press, 1980 ------------------------------------------------------------------------ Some Characteristics and Issues of Emerging and High Growth Industries * Emerging Industries have unique characteristics eg. low predicability, lengthy gestation followed by rapid growth, large and small firms, reliance on highly skilled people. The path to market for emerging industries is unclear; most small to medium enterprises are not export ready, others immediately see their opportunities in the global market. * Technology is important but not the only driver A critical issue is the complex interplay of diverse factors such as new technologies, customer demand, comparative capabilities, market opportunities, existing institutional structures, etc. * The bottom line is economic, environmental and social The drivers of emerging industries and business competitiveness will be various combinations of economic, environmental and social factors.
Approximate Word count = 854
Approximate Pages = 3.4
(250 words per page double spaced)
|
|
|
|
|
|