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Technology strategy - Coggle Diagram
Technology strategy
Technical Standard
Definition:
-Set of technical specifications that producers adhere
-Ownership of technical standards => competitive advantage: format wars
Example 
Benefit of standard:
-Guarantees compatibility
-Reduces confusion
-Reduces production costs and risks
-Leads to low-cost and differentiation advantages
-Raise the level of industry profitability
Establishment of standard:
-The benefits of establishing are recognized => Standards emerge
-Set by: Cooperation, industry association, government
-Public domain: Any company can freely incorporate the knowledge and technology
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First mover:
Def:
-Pioneers a particular product category or feature
-First-mover advantage - Pioneering new technologies and
products => lead to slowing the rate of imitation
-First-mover disadvantages: Competitive disadvantages
associated with being first-
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