Identify and Briefly Discuss Each of the Three Options for Entering

question 62

Essay

Identify and briefly discuss each of the three options for entering new businesses. What are the driving choice parameters for entry into new businesses and which one is the most popular in the sense of being used most frequently?

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Definitions:

Functional Design

The process of creating products, systems, or structures with a focus on optimal functionality.

Strategic Choices

The decisions made by an organization in order to achieve its long-term goals.

Hotel Industry

A sector dedicated to providing lodging services, hospitality, and accommodations to travelers and guests.

Competitive Advantage

An attribute that allows an organization to outperform its competitors.