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What are the advantages of being the first to introduce new technology?
Pioneers in any action tend to have many advantages in venturing into the market. Being the first one to introduce new technology in the market gives one a competitive advantage since it set the pace for consumers. This means that the pioneer has the mandate of setting prices and other parameters for consumers in that market. For example, the introduction of new technology involves several factors such as marketing the product.
In this case, it is cheaper for marketers of the new technology to reach their consumers since they just need to create awareness in the absence of any competitors. Another advantage is the chance of commanding quite a large number of consumers in the market. This is because potential customers will have no alternative other than to use the new technology in the market. Customer tastes and preferences can be given shape by pioneers in the market. Pioneers stand better chances of remaining in the market unlike later comers because they establish their brand equity in the absence of competitors.
Is it always a good strategy to be the leader with technology?
It is always beneficial to be the leader with technology because one stands in a better position to enjoy all the advantages associated with pioneering the technology. Pioneers may be relied upon by later comers in the markets as a source of information. For example, competitors may wish to outsource from pioneers to venture into the market. This means additional revenue for the pioneers as the outsourcing company has to pay some fees for the services provided.
How are action plans related to goal achievement?
Action plans are related to goal achievements because they help organizations to work within a specified time frame. This means that efforts towards the achievement of given goals are guided by policies such as mission statements and vision statements of the organization. For any organization to achieve its goals as planned and effectively there must be an action plan to be followed.
Can goals be achieved without action plans?
Goals can be achieved without an action plan although they can take much time hence affecting effectiveness. If workers are left to work without time frames, goals can be achieved the quality of the accomplished goals will not be as required. Action plans set standards for the goals to be achieved and everyone sticks to what is stated in the action plan. Therefore, in the absence of these policies chances of achieving standard goals are minimal as workers will just work for the sake of their salaries. Workers lack focus on the objectives of the organization as nothing is guiding their performance in the organization.
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