A firm’s preparation regimen includes three areas. Discuss/explain each of these areas. In addition, explain how effective implementation provides an advantage for the incumbent firm.

A

A company’s preparation regimen includes its hiring decisions, the process of strategy-making, as well as the firm’s funding sources. The process of strategy-making should be characterized by the use of emerging strategies. Companies should try to predict the evolvement of a new market, but they cannot be completely confident in anything. It can be beneficial to make a smaller investment and analyze all available resources and opportunities. As to hiring, it is necessary to make sure that the employees involved in the process of innovation have experience in operating in environments characterized by a considerable degree of uncertainty, made successful decisions associated with investment and innovation.

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Academic.Tips. 2021. "A firm’s preparation regimen includes three areas. Discuss/explain each of these areas. In addition, explain how effective implementation provides an advantage for the incumbent firm." June 10, 2021. https://academic.tips/question/a-firms-preparation-regimen-includes-three-areas-discuss-explain-each-of-these-areas-in-addition-explain-how-effective-implementation-provides-an-advantage-for-the-incumbent-firm/.

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Academic.Tips. "A firm’s preparation regimen includes three areas. Discuss/explain each of these areas. In addition, explain how effective implementation provides an advantage for the incumbent firm." June 10, 2021. https://academic.tips/question/a-firms-preparation-regimen-includes-three-areas-discuss-explain-each-of-these-areas-in-addition-explain-how-effective-implementation-provides-an-advantage-for-the-incumbent-firm/.

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"A firm’s preparation regimen includes three areas. Discuss/explain each of these areas. In addition, explain how effective implementation provides an advantage for the incumbent firm." Academic.Tips, 10 June 2021, academic.tips/question/a-firms-preparation-regimen-includes-three-areas-discuss-explain-each-of-these-areas-in-addition-explain-how-effective-implementation-provides-an-advantage-for-the-incumbent-firm/.

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