Entering an Industry

Industry Pioneering Name Institutional Affiliations Course Code Tutor Date Industry Pioneering Several factors might make some industries harder to pioneer than others. They include: Capital Intensity: Industries that require significant initial capital investment in assets or the introduction of innovative technologies often demand more to enter. For instance, the automobile industry requires the purchase of factories, supply chain management, and product design, all of which require a considerable amount of money. Technological Complexity: Pioneering industries that require specialized technological equipment and proficiency may be complex. For instance, biotechnology, an essential branch of the IT services industry, involves knowledge of biological processes and the capability to devise novel solutions. Market Acceptan...