Question 1
The first-mover advantage occurs when a specific company is the first to make entrance in a particular market. It is advantageous to most companies because it helps them in building a market share though this does not guarantee any business success. The only thing that makes sense when a company becomes the first-mover is that they are bound to enjoy the rewards of being the first to occupy the market which will minimize most of the risks that are available. The company is able to effectively compete against any new entrants because they shall have occupied a near-monopoly status in the market. Nonetheless, there is no first-mover advantage to first companies. It means that if an organization is not the first significant company in a specific market then it has no first-mover advantage.
Question 2
“Wait and see” though seems like a high risk approach to marketing has been found to be more viable strategy. It means that this particular approach makes a lot of sense to many businesses because it helps them deal with uncertainties in the market which makes the strategy less risky. The wait and see approach, therefore, becomes viable when a company wants to witness different levels of innovations or line of operation that their competitors are taking in dealing with some issues concerning similar line of business operation. For instance, a company can decide to wait and see if new innovations are released before they decide to make any form of investments in new technologies which help them to minimize risks of failure in regards to performance.
Question 3
BlackBerry can be focusing its re-growth efforts by focusing on sales force in order to find a match for its software focus. It is important for the company to achieve its growth target by its sales department boosting its sales of software to earn more profit and also boost its operation in the phone market.