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Unformatted text preview: Innovation: Organizational Perspective Innovation Management—gain sustainable competitive advantage through innovation ♠ Innovation timing strategies 1 st mover strategy Advantages: Lack of direct competition Demand premium price (temporary monopoly) Establish intellectual property (patents, trademarks, copyright, trade secrets) Establish economies of scale and learning curve advantages Establish control over market/channel Establish switching costs Gain control over scarce resources Temporary monopoly opportunity to establish position before direct competitors emerge Disadvantages Risk of failure (loss of investment) Investment in product and production development (R&D) Investment in market development Liability of early problems (negative reputation effects) 2 nd mover Advantages: Avoid high-risk investments in: Product development Market development Develop product and implement market entry strategy based on:...
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- Fall '08
- Management, Intellectual property law