Question

Companies that stay at the forefront of technological advances in their industries are said to have_________.

Answer 1

Answer:

c. first mover advantage.

Explanation:

First mover advantage is the edge a company gains by being the first to occupy a market segment by gaining technological leadership or obtaining resources early.

Usually first entrant to the market uses control of resources to gain competitive advantage similar to a monopoly

Competitors try to copy success of first mover advantage but most times the companies that have first mover advantage maintain market dominance for some time.

Answer 2

Answer:

C

Explanation:

First mover advantage tend to enjoy competitive advantage. These are firms that always at the forefront of advances in their industries. First mover advantage may be gained by early purchase of resources or by technological leadership.

First movers can be rewarded with huge profits margins if its capitalize on its advantage.