Management Case Study on Fast Mover and Second Mover Strategy

Fast Mover and Second Mover Strategy

The type of strategy employed by the management in an organization helps to attain the institutional goals and enhancing the company’s competitive edge in the market. Conversely, in the recent times, the fast pace of current events and transformations have significantly enhanced the volatility and complexity of the entrepreneurial settings (Vecchiato, 2015). As such, this paper tends to examine the type of approach (fast mover/second mover) that is best suited for an organization with less than 400 workers.

The Type of Strategy Employed

A fast mover is the capability of a pioneering company to receive enormous economic gains by entering the market prior to its competitors (Hietala, 2017). Significantly, the concept is based on three principles; high-tech leadership, preemption of resources, and consumer switching costs. Conversely, a second mover is a counter-intuitive form of winning the market from the fast mover by investing in the rival’s challenges to their advantage (Querbes & Frenken, 2017). As such, being the manager of an organization with less than 400 hundred staffs, I will incorporate the second mover approach as the concept enables management to understand the market based on the fast mover’s operations. Additionally, due to limited resources of labor, the technique enables the company to develop commodities and sell at lower costs, thus, attracts a significant market base. However, the strategic decision is based on the assumption that the second mover can gain from understanding the experience of the first mover.

Conclusion

The type of strategy employed by an organization helps the firm to achieve a competitive advantage over its opponents. As such, fast movers are companies that enter the market prior to their rivals while the second movers capitalize on the faults experienced by the pioneers to facilitate their economic edge.

 

 

References

Hietala, A. (2017). First-mover advantages and-disadvantages: Case study on Prospectum Oy. Retrieved from: https://www.theseus.fi/handle/10024/130889

Querbes, A., & Frenken, K. (2017). Evolving user needs and late-mover advantage. Strategic organization, 15(1), 67-90. Retrieved from: journals.sagepub.com/doi/abs/10.1177/1476127016648498

Vecchiato, R. (2015). Creating value through foresight: First mover advantages and strategic agility. Technological Forecasting and Social Change, 101, 25-36. Retrieved from: https://www.sciencedirect.com/science/article/pii/S0040162514002558