Entrant Positions ► ► Early Movers No distinct advantage ► ► First group ran out of time...
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Transcript of Entrant Positions ► ► Early Movers No distinct advantage ► ► First group ran out of time...
Entrant Positions
►Early Movers No distinct advantage
►First group ran out of time
►Middle Movers Gained more advantage
►Watched clock►Integrated different techniques
Entrant Positions
►Late Movers Clear advantage
►Incorporate the best techniques►Tallest heights in last positions►Learn from early failures
Learning Curve
►Beginning Rapid increase in slope
►Highest degree of learning between first and second group
►Middle and End After first couple groups the curve flattens
out►Differentiation of techniques becomes more
difficult
Different Strategies
► Distinct Advantage to Late Movers Some groups getting
together formulating a plan of action
►Groups that had specific individual objectives within the group did better
Demonstrated the Value Demonstrated the Value ChainChain
►Focus on activities that added valueFocus on activities that added value More time was spent on these activitiesMore time was spent on these activities The tower of Legos added “value” to the The tower of Legos added “value” to the
tower and was focused ontower and was focused on
►Spend less time on activities that don’t Spend less time on activities that don’t add valueadd value More time spent on vertical growth than a More time spent on vertical growth than a
horizontal basehorizontal base
Tower Strategies
►Box on bottom (horizontal vs. vertical)►Book placement (open vs. closed)►Wood block placement ►Duplo construction (height/integrity
tradeoff)►Completing tower before time expired
Brad GochnauerNoelle Harer
Jaclyn StenbergAdrian SmithJustin Shanks
T/R 8:00 AM
► The group that goes first is able to set the bar for their competitors. By building a tall tower as the first group, you can intimidate opposing groups who have yet to go.
► For another example, by wrestling a bear, Jackie Moon is able to intimidate his opponents and draw fans, increasing the market share of his team.
► As the first group, team members have no idea how high they will need to build the tower to win the contest.
► Furthermore, they have not seen the items that will be used in the construction process, nor have they been able to see other teams’ strategies.
► When Jackie Moon was trying to draw fans, he roller skated off a ramp over cheerleaders. This failed miserably, and he landed on a cheerleader. Had he not been the first to try this, he would have known the strategy would not succeed.
► Fast followers are groups that are able to quickly adjust to the strategies of opponents.
► In the class activity, every group except one was able to adjust their strategies rapidly to improve on the previous group’s building.
► After seeing the recent success of comedic sports films, New Line Cinemas adjusted their strategy to include this type of film.
Starring Will Ferrell is a good strategy if you are in the movie business.
Learning From others
► 38”► 22”► 59.75► 51.5► 67► 65.5► 70.5
Learning CurveR2 = 0.7065
0
10
20
30
40
50
60
70
80
0 1 2 3 4 5 6 7 8
Hig
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Tower Height by entrant order:
First Mover’s Advantage
► Chance to gain substantial market share► Ability to patent new technology► Time to build brand name► Try to discourage others from entry- build
low cost barriers, dominate market share
First Mover’s Disadvantage
► Developing new technology is costly► Not all new ideas are good ideas. ► Experimentation can cause failure► Others may benefit from your costly work► Easily copied advantages are soon lost
First Mover’s Disadvantage
► Do cost outweigh advantages?► Can the technology be protected-
Copyrighted? Patented?► Would it be more efficient to follow after
others?
Learning form other’s mistakes
► Enter new markets in a strategic fashion► Tower building gives later entrants the
advantage.
Learning CurveR2 = 0.7065
0
10
20
30
40
50
60
70
80
0 1 2 3 4 5 6 7 8
Hig
ht
(in
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Conclusions
When not to be a first mover: Pioneering costs outweigh follower
benefits Production process easily visible,
imitable, and resources equally balanced.
Strategies improve as groups implement their own ideas
Final Takeaway:
“Learning from others’ mistakes leads to a tower of success.”
-Jimmy “no pants” Jones, age 4