Question: 1. Explain technical standards, why are they important, and how are they established. 2. Describe the advantages and disadvantages of being a first mover or

1. Explain technical standards, why are they important, and how are they established. 2. Describe the advantages and disadvantages of being a first mover or a follower in a high-tech industry. In your opinion, which strategy is preferable, and why?Question 3 Differentiation is distinguishing oneself from rivals by offering something that they find hard to match. Explain how organisation can achieve differentiation. (10 marks) Customer demand for the products in embryonic industries is initially limited for a variety of reasons. Outline the reasons for the slow growth in market demand. (10 marks)

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