What Are the Three Disadvantages That Existing Companies Have When

question 51

Essay

What are the three disadvantages that existing companies have when serving new markets with novel solutions to customers' needs? Please explain each disadvantage.

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Definitions:

Egocentrism

The inability to differentiate between self and others, often leading to viewing things exclusively from one's own perspective.

Sensorimotor

Pertaining to the combined processes of sensory input and motor response; often related to developmental stages in early childhood.

Thumb Sucking

A common habit among infants and young children, where they suck their thumb for comfort or relaxation.

Young Children's

Pertaining to the early stages of a child's life, typically focusing on individuals from infancy through elementary school age.