In the language of business strategy,early entrants into potential future economic profitable markets may be able to reap substantial __________ advantages,while late entrants may fall victim to __________ disadvantages.

Question

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The terms "first-mover advantage" and "late-mover disadvantage" are commonly used in the language of business strategy. The first-mover advantage refers to the advantage that a company gains by being the first to enter a new market or introduce a new product. This can include benefits such as brand recognition, customer loyalty, and establishing a dominant market position. On the other hand, late-mover disadvantage refers to the challenges that a company faces when entering a market that is already dominated by other players. These challenges can include difficulty in building market share or establishing a brand, as well as higher costs associated with competing against established companies.

In the Language of Business Strategy,early Entrants into Potential Future