please answer the following based on the discussion below: . Do you think that late entrants can use the weakness of the first movers to their advantage to gain market share and strive on innovation to make strides in the industry?

Disucssion:

Compare and contrast first-and-late-mover advantages in the industries described below.

Yamaha had a first-mover advantage in the musical instruments industry while Tesla had a first-mover advantage in the electric vehicle industry. Both of these companies managed to penetrate a large portion of the market fast since they were the first to provide world-class products in their respective industries. Yamaha has been established over a century ago while Tesla was founded only 18 years ago. Yamaha relies more on traditional processing to produce high-quality products while Tesla mostly uses modern equipment and technology like robots. Both of them test their products for quality very well before releasing them into the market.

Koenigsegg had a last-mover advantage in the sports car industry while Google had a last-mover advantage in the search engine industry. They are able to produce highly polished products and services since they have learned much from companies that were first established. They learned what mistakes to avoid and how to perfect the system. The companies are both very passionate about their processes and products. The workflow system and factory of Koenigsegg are traditional while Google has unique, modern, and creative offices and workflow system.

Describe two management strategies you discovered in each company tour.

Automation is very evident in the Tesla factory. They automate many of the processes to improve the speed, accuracy, and quality of the work. The delegation strategy was shown in the Google tour. Even the new interns were assigned responsibilities and they were treated as regular workers. They were expected to accomplish certain tasks within a timeframe. They were encouraged to ask questions and even make mistakes but they have the responsibility to come up with something.

Select one of the companies you reviewed and take the position of an analyst tasked with searching for a new foreign market for the operating segment reviewed in the video. Which country would you recommend and why?

I would recommend Tesla to open a foreign market in Thailand. They have already penetrated other Southeast Asian countries like China, Japan, and Singapore so it would be easier for them to understand the Thailand market. Besides, there are already people buying Tesla cars in Thailand but they are importing them from other countries which make the price double due to importation tax. Thailand is very enthusiastic about electric vehicles and it could be a regional leader in EV revolution (Board, 2021). Thailand has also offered incentives for electric vehicle manufacturers. They also reduced taxes for sales of EVs.