This topic contains a solution. Click here to go to the answer

Author Question: Explain the term first mover and then list some of the advantages and disadvantages of being a first ... (Read 83 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
Explain the term first mover and then list some of the advantages and disadvantages of being a first mover in the market.
 
  What will be an ideal response?

Question 2

________ is the ability to anticipate, envision, maintain flexibility, think strategically, and work with others in the organization to initiate changes that will create a viable and valuable future for the organization.
 
  A) Strategic leadership
  B) Strategic management
  C) Strategic competence
  D) Strategic flexibility



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jharrington11

  • Sr. Member
  • ****
  • Posts: 365
Answer to Question 1

Answer: An organization that is first to bring a product innovation to the market or to use a new process innovation is called a first mover.
Some of the advantages of being a first mover are:
a. Reputation for being innovative and industry leader
b. Cost and learning benefits
c. Control over scarce resources and keeping competitors from having access to them
d. Opportunity to begin building customer relationships and customer loyalty
Some of the disadvantages of being a first mover are:
a. Uncertainty over exact direction technology and market will go
b. Risk of competitors imitating innovations
c. Financial and strategic risks
d. High development costs

Answer to Question 2

Answer: A




rosent76

  • Member
  • Posts: 516
Reply 2 on: Jul 6, 2018
Gracias!


kilada

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Excellent

 

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

For a complete list of videos, visit our video library