Describe the Three Strategies That Are Necessary for a Market

question 45

Essay

Describe the three strategies that are necessary for a market leader to accomplish to stay on top.

---

Definitions:

Organizational Inertias

The tendency of an organization to continue on its current trajectory despite changes in the external environment, often due to resistance to change.

Open Innovation

A business model that encourages collaboration with individuals or companies outside an organization to jointly develop new products or services.

Precise Protocol

A specific, well-defined procedure or set of rules designed to achieve accuracy and efficiency in a particular context.

Target Market

The segment of consumers most likely to be interested in a company's products or services, identified for marketing efforts.