Second mover strategy is a counter-intuitive way of winning in many industries. It involves waiting for the first mover to prove a market and test it. But once a market is tested, it involves a fast move into the market. GE and Picker didn’t move into CT scanners first, although they were the leaders of X-ray machine market. They allowed EMI to establish the market. Once they moved int as fast followers, they drove EMI out of the industry. Learn about this strategy from this quick bite poster.
How to Use Quick Bite Posters?
Each quick bite poster gives you access to a concept in business so that you can learn or refresh it within 15 seconds. If you are a business pro, use the quick bite as a prompt for your current problems. That may be an excellent way to use the concept that you already know. If you are learning about business, add this important concept to your toolkit.
Prompts for Second Mover Strategy
In your industry, do first movers win or do second movers win? Are early movers able to garner some important resources that prevent second movers from competing? Or do first movers often spend time and resources creating the market whereas second movers avoid spending resource?
Is your organization a first mover or a second mover? Do you see a good fit between rewards for the order of entry in your industry and the nature of your organization? Is that why you are successful or less successful?