Description of a late mover strategy and its advantages

Format: The format for the exam is short essay. There will be four questions, and you will need to answer four questions. Your answers will be short essays, and should be three full paragraphs or longer. Content: The exam will cover Chapters 6, 7, 8, 9, and 10 in the textbook, plus the assigned readings from Units 4, 5, 6 and 7. It will be important that you tie your answers back to the textbook and to the assigned readings.Exam Scheduling: You will need to schedule an exam time with EXAMITY. You will need to begin the exam no later than 7:59pm CST on Sunday, December 10th.
sample_exam_answer_mgmt_5355.pdf

Unformatted Attachment Preview

Don't use plagiarized sources. Get Your Custom Essay on
Description of a late mover strategy and its advantages
Just from $13/Page
Order Essay

Sample Exam Answer
MGMT 5355
1. Discuss the appeal of a Blue Ocean strategy. How does a Blue Ocean strategy relate to
the timing of strategic moves?
In Chapter Six of the Gamble textbook, Blue Ocean strategy is defined as an approach to gain
a sustainable competitive advantage by “abandoning efforts to beat out competitors in existing
markets and instead invent a new industry or distinctive market segment that renders existing
competitors largely irrelevant” (Gamble, Peteraf & Thompson, 2015, p. 118). The article “Blue
Ocean Leadership”, stresses the issue of widespread employee disengagement due to poor
leadership. “The problem is that leaders lack a clear understanding of just what changes are
needed to bring out the best in everyone and achieve high impact.”(Kim & Mauborgne, 2014) It
derives on research on blue ocean strategy, the model for creating new market space by
converting noncustomers into customers, and implements its concepts and analytic frameworks
to help leaders release the blue ocean of unexploited talent and energy in their organizations
rapidly and at a low cost. (Kim & Mauborgne, 2014)
Blue Ocean strategy and leadership relates to the timing of strategic moves by becoming a
first-mover into a market and earning big payoffs by building a firm’s image and reputation with
buyers, making early commitments to new ways of producing an absolute cost advantage over
rivals, creating loyal customers, and making imitation by competitors difficult or unlikely.
However, timing is critical. Having a late-mover advantage over industry pioneers is a delicate
tradeoff. Being first to market is more costly than being an imitator, especially when innovators’
products are primitive, don’t live up to buyer expectations, and when rapid market and
technology changes allow fast followers and late movers to leapfrog pioneers, or where potential
buyers can be skeptical about the benefits of a first-mover’s new technology/product (Gamble,
Peteraf & Thompson, 2015).
Timing can also relate to leadership by building capabilities and strategy-supportive policies
and culture to deliver positive results. This can all be done when a company implements a
strategy. It also relates to timing of strategic moves through execution. In “Blue Ocean
Leadership,” the Leadership Canvases provide people a solid, visual framework in which they
can surface and discuss the improvements leaders need to make in order for the company to
perform better as a whole. (Kim & Mauborgne, 2014)
In relation to Chapter 10, the organization’s CEO and senior managers are responsible for
ensuring that the strategy is executed successfully. The middle and lower-level managers see to
it that frontline employees and work groups competently perform strategy-critical activities that
allow companywide performance targets to be met. (Gamble, Peteraf & Thompson, 2015) With
Blue Ocean Strategy, companies can see where they need to improve and implement changes
needed by the strategy execution process.
Overall, Blue Ocean Strategy & Leadership relates to the timing of strategic moves
through effective implementation. It can be timed as a first or late mover advantage in the
market for a company to be effective. Moreover, if changes are needed in leadership in order to
make the company more successful, then the Blue Ocean Leadership Strategy comes into play.
Here, managers can use figure out their areas of improvement, have their employees involved
(so they’re familiar and excited for the changes), and execute a strong strategy with constructive
pressure and a top-down approach that produces positive results.
References
Gamble, J.E., Peteraf, M.A., Thompson Jr, A.A. (2015). Strategic Management: The Quest for
Competitive Advantage (4th ed.). New York: McGraw Hill
Kim, W. & Mauborgne, R. (2014). “Blue Ocean Leadership.” Harvard Business Review, 92(5),
pp. 60-72.

Purchase answer to see full
attachment

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency

Order your essay today and save 15% with the discount code ESSAYHELP