When doing an external analysis for new ventures, the context in which a company will evolve can be evaluated as belonging to one of four options:
- Calm Waters: this is the best context to have the advantage[@ianuzzi2017Entrepreneurship for Physicists]. Market and technology evolve slowly
- Market Leads: Market moves faster than the technology. This favors companies with more marketing, distribution, and production capabilities
- Technology Leads: The opposite, when technology moves fast and the market moves slow. There's no advantage of being the first-mover
- Rough waters: Technology and market move fast.
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