This document discusses strategies for entrepreneurial ventures. It begins by defining business strategy and its key elements - product, market, and competitive approach. It then examines five generic entry strategies related to product-market domain: focused entry, product spread, customer spread, adjacency, and scatter. Choosing the right entry strategy depends on assessing product-market domain, competitive approach, and available resources and capabilities. Finally, the document introduces the concept of heuristic - decision rules based on experience - as a way for entrepreneurs to strategize effectively.

1. APT 3083
STRATEGIC ENTREPRENEURSHIP
TITLE : THE STRATEGY FOR THE
VENTURE
1)NURUL AIN NABILAH BINTI MOHAMAD ZAWAWI
(B11A329)
2) AZIFAH BINTI MOHD SUHAIMI
(B11A038)
3) NOR SYAKIRA BINTI MAT
(B11A289)
4) MUHAMMAD IQBAL BIN ALI AKBAR
(B11A233)

2. What is business strategy?
• Strategy is an action of the organization
takes to pursue its business objectives.
• Business strategy is depends on different
view on which aspects are of its actions.
• A basic distinction based on content of
business strategy, business process and
environmental context.

3. • Strategy content based on three distinct
decisions area
-the product to be offered
-the market to be targeted
-approach taken to be competing

4. Product range
• This covers the type and range of the product.
• The decision that face by entrepreneurs are
type of product business offer
Features
How will address the customers need? What
benefits they offered?
What unit cost is acceptable?
How wide should be product range offered?

5. Market scope
• The market scope defines customers group
and market segments that will be address by
firm.
Features
On what groups of customers that
entrepreneurs concentrate on?
In what sectors this customers will be?
Should the firm concentrate on narrow
group or spread it effort widely?

6. Competitive approach
• Competitive approach refers way the firms
compete with its product market domain to
sustain and develop its business in the face
of competitive pressures.
How should the product be priced compared
to competitor?
What supports to be expected from
distributors?
How customers buying decisions can be
influence?

7. Strategy process in the
entrepreneurial business

8. It is about the decision making of a business on
how to achieve strategy content. Eg: goals of the
business.
Strategy content ( competition in external
marketplace )
Strategy content consist of:
1) Product sold
2) Market targeted
3) Approach to competing
A product range being sold to a distinct group of
customers with a particular approach taken to
attracting those customers and competing within
the marketplace.

9. Important themes in modern strategic
management:
- The deliberate approach to strategy creation;
entrepreneurs planned their venture towards
their goals and objectives.
- Emergent approaches to strategy creation;
entrepreneurs managed their venture for a
short-term capabilities, did not concern where
the venture is heading.
*Traditional approach: planning for the future is not
important.

10. The link between existing strategy content and
strategy content achieved in the future
- The strategy process can be said to be
emergent as an entrepreneur have to make a
decision in response to immediate market
opportunities without reference to an overriding
strategic context.
The link between existing strategy content and
desired strategy content
- Entrepreneur is unlikely to be satisfied except if
the organization can operate what it might achieve
in the future.

11. The link between desired strategy content and
achieved strategy content
- It is about the ability of the entrepreneur to
deliver the strategy content they desire for their
organization.
- But the limitations for them to achieve it are the
potential to achieve that strategy content in the
marketplace (achievable, competitive forces
present, feasible) and the power of controlling
the organization by entrepreneur.

12. Vision
- It highlight the desirability of achieving certain
contents.
- It is powerful to motivate the whole organization
to achieve it.
Mission
- It specify the key element of a strategy content.
- It can be as an indicator as to what strategy
contents are desirable and acceptable.

13. Objectives
- The approach taken depends upon the
entrepreneur’s personal style and leadership
strategy.
- The quantity of objectives resembles the
achievement of a desired strategy content.
Discussion
- The discussion about the identification of a
desired strategy content may not occur by a formal
process, it may involve a variety of people within
and outside the organization and may take place
over a period of time.

14. Controlling strategy process in
venture
• A recognition of the decision the
entrepreneurs must make to control strategy
process in their venture.
1)Decision relating to development of the
mission.
By what process will be business mission be
develop?
How will it be articulated?
To whom will it be communicated?

15. 2)Decision relating to the development of
strategy
Who is the organization will be invited to
contribute to the development of the desired
strategy content?
How will their ideas be evaluated and
judge?
3)Decision relating to the control of resources.
Procedure will control how decision are
made
Who will responsibility for what level of
investment?

16. 4) Decision relating to the way objectives will
be set, monitored and rewarded.
How will objectives will set?
Who will be responsible for setting them?
For whom will objectives be set?

17. Why a well-defined
strategy can help the
venture???

24. An overview of
entrepreneurial entry
strategies

25. Introduction
As we see, every entrepreneurial venture is
different, but there are all can be
recognizable patterns
Its called Generic Strategies
The pattern is mainly depends on Product-
Market domain

26. Product-Market domain
The product scope is the range of product
categories while market sector served are
the distinct customer groups addressed by
the firm
The important factors includes product
features, product quality, patterns of product
usage in term of place.

27. Product-Market domain
The entrepreneur has five generic entry
strategies in relation to product-market
domain.
• Focused entry
• Product spread
• Customer spread
• Adjecency
• Scatter

28. Competitive approach
1. Offering a new product or services
 Delivering the customer an innovative
product or service
2. Offering greater value
 A lower price within the same product
existance in the market
3. Creating new relationship
 A network of relationship built on trust

29. Product-Market domain
4. Being more flexible
Customers needs are not fixed
5. Being more responsive
 Existing products serve those needs less
effectively.

30. Choice of entry strategy
Product-market
domain entry
strategy
Approach to
competing
Resource and
capabalities

31. Talking Strategy:
Entrepreneurial Strategic
Heuristic

32. Introduction
Heuristic is a decision rule based on insight
and experience.
Used to speed up the process of finding a
satisfactory solution via mental shortcuts
Examples of this method:-
• Rule of thumb
• Educated guess
• Common sense