Henry Ford is often credited with saying that he would rather be the first person to be second. This is strange coming from the innovator of the mass-produced automobile in the U.S. So is the first mover advantage really a myth or is it something that every firm should strive for? First movers (discussed in chapter five) are typically considered to be the ones that initially introduce an innovative product or service into a market segment (in other words, first to market in a new product or service segment). The motion subscribed to first movers is that doing so creates an almost impenetrable competitive advantage that later entrants find difficult to overcome. However, history is replete with situations where second or later movers find success. If the best way to succeed in the future is to understand the past, then an understanding of why certain first movers succeeded and others failed should be instructive. Accordingly, this paper requires you to investigate a first mover and identify specifically why, or why not, it was able to hold onto its first-mover advantage. For this paper, pick an industry that you find of interest. Research that industry and identify one or two instances of a first mover; research the introduction of a new offering into new market segments. For example, you might pick consumer electronics and look for firms that initiated new products in new market segments. Present your findings with the discussion in the paper centering on the following at a minimum: ? Brief history and description of the industry chosen (e.g., was this a fast-, standard-, or slow-cycle market at the time the first mover initiated its strategic action)? ? How has innovation of new products traditionally been accomplished in this industry: through new firms entering the market or existing firms launching new offerings? ? Identify one or two first movers and provide a review of what happened. If the product or offering is still considered successful, describe why. If not, why not? ? What did you learn as a result of this exercise? Do you consider the first mover a wise strategy? Is your answer dependent upon industry, timing or luck? The number of pages for this paper will vary in length, but should be around 8 to 10. In addition, the paper should have a separate cover page and a separate reference page. This paper must conform to APA style. Do not write in the first person. This is an academic paper. Write in the third person, passive voice. Please use 12 point font (Times Roman type face), one inch margins, double spaced, with a five space indent for each paragraph. Use a minimum of three (3) scholarly references (Wikipedia is not acceptable).
Paper#10865 | Written in 18-Jul-2015Price : $25