Question

garcia industries produces tool and die machinery for manufacturers. the company expanded vertically in 20x1 by acquiring one of its suppliers of alloy steel plates, keimer steel company. to manage the two separate businesses, the operations of keimer are reported separately as an investment center.

Answer 1

A first mover has an advantage because once other market players enter the fray.

First mover advantage is the process by which a business obtains a competitive edge over its rivals by developing a product or service first in a market or by being the first to use a particular management system or technique. A first mover has an edge since, by the time additional market players enter the fray. such a company has already received the majority of the benefit. In the situation at hand, the steel manufacturing company introduced a new supply chain management system, thanks to which it was able to significantly cut the time required to obtain raw materials, resulting in effective production. Additionally, it has resulted in cost reductions, which has raised profitability. First mover advantage is present in this situation.

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