Final answer:
The approaches for answering the question "How to enter?" when a firm is considering entering an industry include establishing a niche, timing of the entry, leveraging existing assets, and reconfiguring value chains.
Step-by-step explanation:
The approaches for answering the question "How to enter?" when a firm is considering entering an industry include establishing a niche, timing of the entry, leveraging existing assets, and reconfiguring value chains.
Establishing a niche involves identifying a specific segment or target market within the industry and developing a unique offering that meets the needs of that segment.
The timing of the entry refers to strategically entering the industry at the right time, considering factors such as market conditions, competition, and customer demand.
Leveraging existing assets involves utilizing the firm's current resources, capabilities, and relationships to gain a competitive advantage in the industry.
Reconfiguring value chains refers to making changes to the way the firm adds value in the industry, such as improving efficiency, reducing costs, or enhancing product quality.