A QUESTION OF STRATEGY:TO BE A PIONEER OR A FOLLOWER?

Abstract

One of the most important questions faced by business leaders in the strategic management process is a choice of timing to launch new product/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks. Pioneers often have higher profitability, greater market share, and a longer business life, but the relative success of each strategy depends on several factors, both internal and external (pace of evolution of technology and markets).