In What Sorts of Circumstances Is It Strategically Advantageous to Be

question 35

Essay

In what sorts of circumstances is it strategically advantageous to be a fast follower or late mover as opposed to a first mover?

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Definitions:

Franchising

A form of licensing in which a company—the franchiser—agrees to provide a franchisee a name, logo, methods of operation, advertising, products, and other elements associated with a franchiser’s business in return for a financial commitment and the agreement to conduct business in accordance with the franchiser’s standard of operations.

Franchisees

Individuals or entities that purchase the rights to operate a business under a franchise brand, adhering to the specified business operations and practices.

Standardized Operations

Standardized Operations refers to the implementation of uniform procedures and processes across an organization to ensure consistency and efficiency in production or service delivery.