When a Company Seeks to Carve Out a Unique Market

question 68

Essay

When a company seeks to carve out a unique market space for themselves through value innovation, they must think about how a company might redefine its market and craft a new business-level strategy. What are four areas that a company should focus on finding new strategies? What questions should be asked for each area? Choose a company that has created market space through value innovation and trace how they addressed these four areas to redefine itself.

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Definitions:

Manager

An individual responsible for controlling or administering all or part of a company or similar organization.

Boss

A person who is in charge of a worker or organization, responsible for directing and overseeing their work.

Social Influence Process

The ways in which individuals or groups affect the beliefs, feelings, and behaviors of others through direct or indirect interactions.

Specialized Role

A position that requires a specific set of skills or knowledge, often associated with a particular field or function.