Tactics to Facilitate Strategies

Strategists use numerous tactics to accomplish strategies, including being a “first mover,” outsourcing, and reshoring. There are advantages and disadvantages of such tactics, as discussed next.

First Mover Advantages

First mover advantages refer to the benefits a firm may achieve by entering a new market or developing a new product or service prior to rival firms. As indicated in Table 5-7, some advantages of being a first mover include securing access to rare resources, gaining new knowledge of key factors and issues, and carving out market share and a position that is easy to defend and costly for rival firms to overtake. First mover advantages are analogous to taking the high ground first, which puts one in ...

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