-Explain why sometimes the follower and not the first mover of a new technology is more successful in the market place.
-Discuss the timing of entry strategies into the market for new products. What assumptions underlie the use of such strategies?
First Mover vs. Follower
New technologies are happening at a very fast pace; so fast in fact, "one wonders how any enterprise could adequately plan to respond quickly enough to leverage such changes for competitive advantage" (Trembly, 2009). As the technologies improve, and new players come into the marketplace, the question must be asked why do followers of new technologies sometimes become more successful in the marketplace than the first mover of the technology. This question is not without merit. Some examples of this phenomenon can be seen in Betamax vs. VHS. Sony's Betamax came out a year before VHS, but after going over the trial and error of Betamax, VHS perfected the technology more proficiently (The betamax vs vhs format war, 2005). There are many reasons that this happens, mainly the disadvantages of the first mover becomes the advantage of the follower. Late entrants can copy the innovator; imitation cost can be considerably lower. The follower has the advantage of seeing the new technology and finding a suitable substitute for the technology. The follower also can use marketing advantages to their favor ...
This 725 word solution provides 4 quality references to substantiate the material. It explains the first mover and follower relationship. The solution also gives good information on the timing of entry strategies, as well as, provides reasons that a follower is sometimes in better position than a first mover.
System Development Life cycle (SDLC)
1. What is the meaning of System Development Life Cycle (SDLC)?
2. How can I summarize the SDLC proposal for an organization?
I made up an organization it is a booksore and below I will include what I have written so far.
This is a madeup organization based in California that was founded in 1980 by JOHN DOE who currently serves as the CEO. The company currently has 500 bookstores throughout the US, employs 3,000 employees and has annual revenues of $1 billion dollars. This bookstore is currently the leader in the industry with market share of well over 60%.
The vision and goal for the next decade is to continue to dominate the industry and move the company to the global stage. In order for the company to achieve sucha a vision, the CEO realizes that the company must offer their customers an online shopping experierence. Therefore, the CEO is requesting the organization to propose a comprehensive plan to evolve the company to an organization that not only offers the customer a great experience in the brick and mortar locations but also proides them with an online option.
The CEO realizes that the business is currently vulnerable by strictly providing a brick and mortar experience to the customers. Since the evolution of the Internet, new bookstore companies have been created online. These companies have the advantage of not carrying the overhead that this bookstore carries int he brick and mortar locations. Also in order to grow market share in the US the company has to build stores in new locations, which requires a considerable investment. On average, this investment costs the company about $5million per location. Furthermore, this bookstore has two main competitors have publicly announced key initiatives to evolving the business online. Finally, the company has a desire of expanding the business to the global stage. An online experience will allow the bookstore to rapidly expand to international markets at a fraction of the cost.
Once the company evolves to offering consumers an online option, the CEO expects to improve total annual revenues profitably from $1 Billion to $5 Billion within the next 5 years.
The project purpose is to develop a Systems Development Life Cycle (SDLC). The SDLC will use the taditional steps of investigation, analysis, design, implementation, maintaenance and review. The SDLC will make it possible for the bookstore to be successful and competitive in the fast growing online sales market.
project stakeholders are the people involved with the SDLC, the CEO and all employess at the bookstore. The SDLC, will implement a Rapid Application Development program so that the new system can be rolled out quickly. Stakeholders will benefit and the company will meet its projected goals of $5billion in 5 years.
The bookstores have arrived at a crossroads in the 25 years of existence. The company must determine whether to take the risk and make the appropriate investment of pursuing an online business platform or remain with its current distribution strategy of selling their merchandise in the traditional brick and mortar locations. This is necessary decision for the bookstore in order for the company to stay competitive in today's marketplace.
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