b. Creative imitation – Here the entrepreneur creatively imitates what someone else has already done. It is creative because the entrepreneur understands how to make it better. He waits until somebody else makes it, then he goes to work and within a short time comes out with a perfect product which the customers want and are prepared to pay more for. The creative imitator then sets the standards and captures the market. The creative imitator does not invent a product or service, he only perfects an existing one. Thus he exploits the success of others. This strategy requires a rapidly growing market. Electronic goods are an excellent example of creative imitation. Many electronic goods are available much cheaper than their pioneering brands.

c. Entrepreneurial Judo – The innovator exploits weak links or bad strategies of others to push himself into a leadership position. It requires some degree of genuine innovation in areas in which the established firms are not active. This strategy succeeds when the leader overlooks unexpected success or failure.

d. The tollgate strategy – Here the market is so limited that whoever occupies it first, leads it. The risk of not using the product must be greater than the cost of the product, for example, in a voltage stabilizer.

e. The speciality skill – The innovator has to look for an area where a speciality skill can be developed and can give the enterprise a unique controlling position. In the early stages of a major new development this offers an exceptional opportunity as in the case of mobile handsets. Timing is essential for this strategy. The greatest danger is that the speciality may cease to be a speciality and become universal.

f. The speciality market – While speciality skill is built around a product or service, this is built around specialised knowledge of a market. The greatest danger here is when the speciality market becomes a mass market. An example of this was seen when ink pens were replaced by ball pens.