In detail, list and describe the pros and cons of being a technological leader as a functional strategy.
b. In detail, list and describe the pros and cons of being a technological follower as a functional strategy.
c. Based on your response to items a and b, indicate which functional strategy you would recommend and describe, in detail, why you made this recommendation.
a. In detail, list and describe the pros and cons of being a technological leader as a functional strategy.
Pros - (Low Cost Advantages) Being a pioneer and the first in creating/inventing the design of the lowest cost product and as a result, build the company's image and reputation; being one of the earliest companies committed to new technologies, new-style components, and also new distribution channels can create cost advantage for the firm; first time buyers tend to be loyal to these types of companies who initiate; being able to be the first to move can allow a company to secure an advantageous position where rivals are discouraged from duplicating (preemptive strike); and pioneers are the first organizations to go down the learning curve and also the first to create ways of value activities.
(Differentiation) Pioneer a unique and new product and innovate in other activities and these will increase buyer value.
Cons - ...
The solution lists and describes the pros and cons of being a technological leader and follower as a functional strategy. A recommendation on the preferred strategy is also discussed. References included.