Table III.

Business classification according to the process development strategy

Strategy typeDefinitionSurvey code
ProspectorDevelops its own technology to get better results than competitorsType 1
ImitatorTries to keep ahead of competitors by buying cutting-edge technologyType 2
DefenderUses the same technology as most competitorsType 3
ReactorCompetitors have better technologyType 4
Source: Adapted from Gálvez et al. (2012) 

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