Because the Timing of a Strategic Move Can Be Just

question 83

Multiple Choice

Because the timing of a strategic move can be just as important as the choice of move to make, a company's best option with respect to timing of an action is

• A)to be the first mover.
• B)to be a fast follower.
• C)to be a late mover (because it is cheaper and easier to imitate the successful moves of the leaders and moving late allows a company to avoid the mistakes and costs associated with trying to be a pioneer-first-mover disadvantages usually overwhelm first-mover advantages).
• D)to be the last mover-playing catch-up is usually fairly easy and almost always is much cheaper than any other option.
• E)to carefully weigh the first-mover advantages against the first-mover disadvantages and act accordingly.

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Definitions:

Repossession

The process by which a creditor takes back property or goods from the borrower due to failure to make scheduled payments.

Defaulted

Refers to failing to fulfill a legal obligation, especially failure to pay a debt or appear in court as required.

Foreclosed

The legal process by which a lender takes possession of a property due to the borrower's failure to pay the mortgage.