Comparing Virtual Company Tours

Comparing Virtual Company Tours

Both Yamaha and Tesla have first-mover advantages in the industry. To be a first mover in the industry means to obtain a competitive advantage prior to other similar products hitting the market. When entering a new market, some organizations need to decide if it is better to be a first mover or a late mover. Tesla has gained some advantages as a first mover through proprietary technology, being the first fully electric car. Some brands, by being first movers, will become household names. Two companies that come to mind in the US that are household names are Kleenex and Q-tip. We tend to refer to cotton swabs in the US as Q-tips and tissues as Kleenex. When it comes to Yamaha instruments, as a first mover, they are well-known for the quality of instruments and the sound that their instruments make. Even though they have had some technological advancements in how they create the instruments, a lot of the work is still done by hand by factory workers with skills and knowledge in instrument making and playing. First movers can also create key relationships with governments that may then push out competitors or be less likely to embrace them. Late movers also have some advantages. For example, they can ride on the coattails of the first movers, they can enter a market that has already resolved issues, and they can learn from the mistakes of the first mover (Peng, 2017).

Although Tesla is an auto manufacturer, they broke out of the domain. They do not have a business model that was written a long time ago and can write how things are done. For example, Tesla has options to get your car fixed by sending technicians to you, making the third-party dealer absolute. They also have an advantage over traditional automakers because they have regular-engine cars and are their cash cow. However, they still have to try to be innovative with electric vehicles despite an antiquated business model. This is another benefit of being a first mover (Katseneleson, 2019).

One of the management strategies that Yamaha uses is that they employ a lot of musicians. They also ask their employees to be innovative. In the video, they showed some of the instruments that their employees created just for fun. According to Yamaha’s Group Annual Report (2021), they have four management strategies, which are to develop closer ties with customers, create new value, enhance productivity and contribute to society through their business. The video actually showed some of these strategies in place prior to this report. They definitely showed how they are trying to enhance their productivity by showing how a trumpet is made, and the steps are both done by hand and by machines.

One country that Yamaha might expand to is India. India is a large country that is gaining some attention for growth in the global economy. The United Nations has projected that India will lead China in population by 2030, and half of its population is youth under the age of 25. India also has a geographic advantage due to easy access to the Middle Eastern and African markets. Many other countries have also been entering the India market in hopes of capitalizing on these things (Yamaha Corporation, n.d.)

References

Katsenelson, V. (2019) Traditional auto companies are chained to an outdated business model.

MarketWatch. Retrieved from https://www.marketwatch.com/story/the-survival-of-teslas-rivals- is-far-from-a-sure-thing-2019-11-08

Peng, M. W. (2017). Global Business (4th ed.). Retrieved from https://redshelf.com/

Yamaha Corporation. (n.d.) Special Feature 02 Growth Strategies and Value Creation Initiatives in India. Retrieved from https://www.yamaha.com/en/ir/investor_digest/value/feature02/

Yamaha Group’s Annual Report. (2021). Management Strategy. Retrieved from https://www.yamaha.com/en/ir/publications/pdf/an-2021e-002.pdf

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Prior to beginning work on this discussion forum, read Chapters 8, 9, and 10 in the required textbook and review the videos below.

Compare and contrast two of the virtual company tours listed in the videos below. Review each closely to answer and discuss the following questions:

• Compare and contrast first- and late-mover advantages in the industries described below.
• Describe two management strategies you discovered in each company tour.
• Select one of the companies you reviewed and take the position of an analyst tasked with searching for a new foreign market for the operating segment reviewed in the video. Which country would you recommend and why?