Fast Second
How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets
Published on 24. September 2004
208 pages
978-0-7879-7689-7 (ISBN)
Description
Discover why being a "fast second" is often more financiallyrewarding than being at the cutting edge.
If you get there first, you'll lead the pack, right? Notnecessarily! The skill-sets of most established companies, saystrategy experts Constantinos Markides and Paul Geroski, are farbetter suited to scaling up newly created markets pioneered byothers (in other words, being "fast seconds") than to creatingthese markets from scratch. In Fast Second, they explore thecharacteristics of new markets, describe the skills needed tocreate and compete in them, and show how these skills match up withdifferent types of companies. Drawing on examples of successfulfast-second firms such as Microsoft, Amazon, Canon, JVC, Heinz, andmany others, they illustrate how to determine which new marketshave the potential to be successful and how to move into thembefore the competition does, when to make a move into a new market,how to scale up a market, where to position a company in themarket, and whether to be a colonizer or a consolidator.
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Reviews / Votes
"A bold challenge to conventional thinking with plenty ofexamples to support the authors' hypothesis."(Voyager (BMI Inflight), February 2006) "...a ring of real wisdom..." (Financial Times,21st September 2005) "This interesting book examines types of innovation andhow these can help companies succeed in creating and colonising newmarkets." (Brand Strategy, May 2007)"This is more than just an interesting new business book. Itis a bold challenge of the pervasive conventional wisdom ofbuilding breakthrough, innovative capability as a foundation stoneof competitive advantage. Through their strong and clear argumentand their richly detailed examples, these leading strategicthinkers present a provocative set of ideas that no manager (ormanagement teacher) can afford to ignore." --Christopher A. Bartlett, Thomas D. Casserly, Jr. Professor ofBusiness Administration, Harvard Business School "Fast Second will force cutting-edge leaders of big,established companies to totally rethink radical innovation.Conquering radical new markets is about timing and a smart strategyfor scaling them up, not creating them." --Kathleen M. Eisenhardt, Stanford W. Ascherman M.D. Professor,Stanford University, and coauthor, Competing on the Edge:Strategy as Structured ChaosMore details
Other editions
Additional editions
Constantinos C. Markides | Paul A. Geroski
Fast Second
How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets
Book
12/2004
Jossey-Bass
Unfortunately, price unknown
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Persons
The Authors
Constantinos C. Markides is professor of strategic and international management and holds the Robert P. Bauman Chair of Strategic Leadership at the London Business School. He is the author of numerous articles and books, including All the Right Moves: A Guide to Crafting Breakthrough Strategy, and is coeditor of Strategic Thinking for the Next Economy from Jossey-Bass.
Paul A. Geroski was until recently professor of economics at the London Business School. His research interests were innovation, competitive strategy, and competition policy. He is currently the chairman of the Competition Commission in the United Kingdom.
Content
1. Spotting the Real Innovators.
2. Where Do Radical Innovations Come From?
3. From New Technologies to New Markets.
4. Colonists and Consolidators.
5. From Colonization to Consolidation.
6. Racing to Be Second: When to Enter New Markets.
7. The Changing Basis of Competition.
8. Creating the Markets of the Twenty-First Century.
Notes.
Further Reading.
Acknowledgments.
The Authors.
Index.
