strategies in emerging industries
DESCRIPTION
Emerging, sunrise industries face a lot of uncertainty on the strategic horizon. Yet first mover advantages can be lost without timely action. A clear, confident strategy ultimately becomes the game changer...TRANSCRIPT
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Strategies in Emerging Industries
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Objectives of this Session
1. Review the landscape of emerging industries
2. Pinpoint features & challenges of firms
3. Highlight critical decision dimensions
4. Enunciate strategies available to firms operating in emerging industries
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#1: EMERGING INDUSTRIES
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ALTERNATIVE ENERGY
Nissan Leaf (electric car)
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ADVANCED EQUIPMENT MFG.• Industrial robotics and automation, Sensor
technology, Micro-electronic technology, Embedded systems, NEMS/MEMS technology
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The Physical World as an Info System
THE INTERNET OF THINGS
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LIVESTREAMING, ipTV
• Apple TV, Google TV, Boxee, Roku are superior solutions to the traditional set top box.
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3D PRINTING
MIT scientists are
working on machines
that will take basic
compounds & turn
them into gourmet
dishes. Engineers
have been developing
3-D printers that build
chocolate objects.
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eLEARNING, ePUBLISHING
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NICHE SOCIAL NETWORK
• Facebook’s ubiquity has led to the many niche social networks for sharing photos, videos, music playlists to theatre memories……
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APPI-FICATION• Using QR codes & geo-spatial features built into
smartphones many corporate campuses use an employee’s smartphone as sole id device.
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CONTINUITY ACROSS DEVICES Consumers are demanding the ability to pick up the session on a different device in exactly the same place they left off, demanding a continuous experience across call logs, text messages, notes and activities as they move from laptop to desktop, from tablet to mobiles.
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SMART & SECURE CITIES
SONGDO (S. KOREA) & MASDAR (UAE)
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#2. Features & Challenges
• New, unproven market
• Proprietary knowhow
• Parallel technologies, no clear consensus
• Usually low entry barriers
• Learning curve effects
• Inducing initial purchase & allaying consumer’s doubts regarding new product
• Price expectations of customers & postponement
• Undercapitalization constraint
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#3. Key Decision Dimensions
1. How to finance initial operations till sales take off?
2. Which market segments or competitive advantage to pursue to gain front-runner position?
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#4. Strategies in Emerging IndustriesFIRST MOVER ADVANTAGE
Take leadership position through risk bearing & creativity. Use Differentiation strategy (broad or focused). Grab first mover advantage
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Strategies in Emerging IndustriesBECOME A TECHNOLOGY MENTOR
Adopt the dominant technology quickly. Push to perfect it. Forge strategic alliance with related/complementary technology experts
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Strategies in Emerging IndustriesPUSH INITIAL SALES
• Keep it easy & cheap for first time buyers. Resort to price cuts to attract next line of customers
• Pursue new applications/customer groups/geographic areas
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Strategies in Emerging Industries
• ENSURE STEADY PRODUCTION & SCALING UP
• Strategic alliances with suppliers of raw material & capital. Capture learning effects.
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