discussion 1.2 and 2

Apple Company was the first company to launch the Smartphone which they referred to as iphone. The success being witnessed today can be attributed to their first mover advantage because before other companies could come into the industry such as Samsung; the product had already gained enough market share and customer base leading to great profit margins. The company gained its competitive advantage of first mover advantage through its ability to acquire cheap labor and enough technical support team in Foxmann to be able to produce competitively. This gives them an advantage in resources control which minimizes their cost of production and increases profits (Vecchiato, 2015).

References

Vecchiato, R. (2015). Creating value through foresight: First mover advantages and strategic agility. Technological Forecasting and Social Change, 101, 25-36.