Functional Strategies
Not what you're looking for?
A. In detail, list and describe the pros and cons of being a technological leader as a functional strategy for a firm,
b. In detail, list and describe the pros and cons of being a technological follower as a functional strategy for a firm,
c. Based on your response to items a and b, indicate which functional strategy you would recommend for a firm and describe, in detail, why you made this recommendation.
Purchase this Solution
Solution Summary
The solution discusses about being a technological leader or technological follower as a functional strategy for a firm. References are included.
Solution Preview
a. In detail, list and describe the pros and cons of being a technological leader as a functional strategy for a firm,
Organizations can choose to achieve either cost advantage or differentiation when choosing to become a technological leader or technological follower.
Pros:
? An organization can pioneer a product with lowest cost design or a unique, special product that increases buyer value. These companies want to achieve differentiation to sustain competitive advantage.
? It can become a respected innovative leader in the industry. Consumers look at a company's reputation and some of them follow the leader by patronizing its products.
? As a technological leader, it can invent ways of creating low-cost way of performing activities that are valuable to the organization.
? Company can serve market well by starting to innovate other activities that increase buyer value thereby being able to serve their consumers better.
Cons:
? Companies invest in Research & Development in order to maintain its being a technological leader in the industry. It is a costly initiative and most of those who undertake such are only the bigger companies. They spend more on R&D to differentiate its products from the others.
? Although risk is built into all business activities, any decision has a risk implied which can affect the company's objectives. If an innovation fails to live up to its expectations and ...
Purchase this Solution
Free BrainMass Quizzes
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.