When to make a strategic move is often as crucial as what move to make. Good timing, therefore, is important in deciding whether to be a first-mover, a fast-follower, or a cautious late-mover. Contrast the advantages and disadvantages of an entrepreneur's decision to make a strategic first move. Need help developing 250 word response using peer-reviewed, scholarly references.© BrainMass Inc. brainmass.com June 3, 2020, 8:49 pm ad1c9bdddf
When an entreprenuer decides to make a strategic first move, the primary advantage is that if successful, such strategic first move can bring windfall gains to the entrepreneur due to first mover advantage. The first mover in the marketplace with a new and unique product can certainly reap higher than average returns due to absence of competition. As and when market matures, new players copy the product and thus, result in lesser margins for the ...
The solution contrasts the advantages and disadvantages of an entrepreneur's decision to make a strategic first move.