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updated 2:54 PM UTC, Jul 28, 2018

Test promo article

  • Published in Promotions

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Prospector organizations face the entrepreneurial problem of locating and exploiting new product and market opportunities. These organizations thrive in changing business environments that have an element of unpredictability and succeed by constantly examining the market in a quest for new opportunities. Moreover, prospector organizations have broad product or service lines and often promote creativity over efficiency. Prospector organizations face the operational problem of not being dependent on any one technology. Consequently, prospector companies prioritize new product and service development and innovation to meet new and changing customer needs and demands and to create new demands. The administrative problem of these companies is how to coordinate diverse business activities and promote innovation. Prospector organizations solve this problem by being decentralized, employing generalists (not specialists), having few levels of management, and encouraging collaboration among different departments and units.



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