Final answer:
For business success, timing exits and entries are crucial decisions involving innovation and market strategies.
Explanation:
Enter: If you enjoy the start-up stage of business, consider selling when you reach the mature stage, and plan for a new venture. Exiting the market may happen when profits no longer justify costs, leading to job destruction.
Innovation: Businesses need to innovate to stay competitive and profitable. Calculating present discounted value of profits versus innovation costs guides decisions.
Market Entry: Companies can choose from strategies like exporting, licensing, or alliances to enter new markets, each with distinct advantages and disadvantages.
Learn more about Business Exit Strategies here:
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