Strategies in emerging industries
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The document discusses strategies for firms in emerging industries by reviewing the landscape and identifying challenges and decision dimensions. It highlights key areas such as alternative energy, 3D printing, and smart cities, while emphasizing the need for financing, market positioning, and leveraging first mover advantages. Strategies include becoming a technology mentor, forming strategic alliances, and promoting initial sales through affordable pricing.
Strategies in emerging industries
- 1. Strategies in Emerging Industries
- 2. Objectives of this Session 1. Review the landscape of emerging industries 2. Pinpoint features & challenges of firms 3. Highlight critical decision dimensions 4. Enunciate strategies available to firms operating in emerging industries
- 4. ALTERNATIVE ENERGY Nissan Leaf (electric car)
- 5. ADVANCED EQUIPMENT MFG. • Industrial robotics and automation, Sensor technology, Micro-electronic technology, Embedded systems, NEMS/MEMS technology
- 6. THE INTERNET OF THINGS The Physical World as an Info System
- 7. LIVESTREAMING, ipTV • Apple TV, Google TV, Boxee, Roku are superior solutions to the traditional set top box.
- 8. 3D PRINTING MIT scientists are working on machines that will take basic compounds & turn them into gourmet dishes. Engineers have been developing 3-D printers that build chocolate objects.
- 10. NICHE SOCIAL NETWORK • Facebook’s ubiquity has led to the many niche social networks for sharing photos, videos, music playlists to theatre memories……
- 11. APPI-FICATION • Using QR codes & geo-spatial features built into smartphones many corporate campuses use an employee’s smartphone as sole id device.
- 12. CONTINUITY ACROSS DEVICES Consumers are demanding the ability to pick up the session on a different device in exactly the same place they left off, demanding a continuous experience across call logs, text messages, notes and activities as they move from laptop to desktop, from tablet to mobiles.
- 13. SMART & SECURE CITIES SONGDO (S. KOREA) & MASDAR (UAE)
- 14. #2. Features & Challenges • New, unproven market • Proprietary knowhow • Parallel technologies, no clear consensus • Usually low entry barriers • Learning curve effects • Inducing initial purchase & allaying consumer’s doubts regarding new product • Price expectations of customers & postponement • Undercapitalization constraint
- 15. #3. Key Decision Dimensions 1. How to finance initial operations till sales take off? 2. Which market segments or competitive advantage to pursue to gain front-runner position?
- 16. #4. Strategies in Emerging Industries FIRST MOVER ADVANTAGE Take leadership position through risk bearing & creativity. Use Differentiation strategy (broad or focused). Grab first mover advantage
- 17. Strategies in Emerging Industries BECOME A TECHNOLOGY MENTOR Adopt the dominant technology quickly. Push to perfect it. Forge strategic alliance with related/complementary technology experts
- 18. Strategies in Emerging Industries PUSH INITIAL SALES • Keep it easy & cheap for first time buyers. Resort to price cuts to attract next line of customers • Pursue new applications/customer groups/geographic areas
- 19. Strategies in Emerging Industries • ENSURE STEADY PRODUCTION & SCALING UP • Strategic alliances with suppliers of raw material & capital. Capture learning effects.