Question

Can you think of an example of a successful a) first mover, b) early follower, and c) late entrant? Can you think of unsuccessful examples of each? Dont copy paste from the websites.

Please answer in more than 350 words and only in word format no images.

Please answer all the questions asked. Explain the examples.

Subject: Management of Technological Innovation

Thanks

Answer 1

An example of successful first mover can be Paytm. Paytm is a startup, launched in India, in the year 2010. It is an electronic payment company, which has even extended its operations in e-commerce and payments bank sector. It has become the largest mobile payment platform in India and has even got a license from India’s RBI to start India’s first payments bank. The innovative technology and ease of use has made this company synonymous to making mobile payments in India.

An example of unsuccessful first mover is Kodak. The company was unable to keep up with the pace of technological advancement and is now struggling for its mere existence.

Facebook can be considered as the best example of an early follower company. The foundation of this company was laid after getting inspired by Friendster and MySpace. It has now become one of the most successful and followed social networking site across the globe. People consider it as a platform to connect with their loved ones.

An example of unsuccessful early follower is Intel in the microprocessors industry.

Google is the best example for a successful late entrant company. The company entered the search engine industry much after Yahoo and Ask.com. Google has proved its mettle and has become synonymous for search engine and search function in the world.

An example of unsuccessful late entrant is Dvorak in the keyboard manufacturing industry. Its products are long forgotten from the minds of the consumers.