If a firm has a strong set of innovation skills and capabilities, it should pursue entrepreneurial opportunities through

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If a firm has strong innovation skills and capabilities, it should pursue entrepreneurial opportunities through internal innovation. This means that the firm should develop and launch new products or services on its own, leveraging its existing innovation capabilities to create value and drive growth. Acquisitions, joint ventures, and strategic alliances may also be viable options for pursuing entrepreneurial opportunities, but they are typically less effective if the firm already has strong innovation skills and capabilities. These external options are often used to acquire new technology or complementary capabilities that the firm does not already possess, or to access new markets or channels for distribution.

If a Firm Has a Strong Set of Innovation Skills