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Fast Second: How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets
     

Fast Second: How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets

5.0 1
by Paul A. Geroski, Constantinos C. Markides
 
Discover why being a "fast second" is often more financially rewarding than being at the cutting edge.

If you get there first, you'll lead the pack, right? Not necessarily! The skill-sets of most established companies, say strategy experts Constantinos Markides and Paul Geroski, are far better suited to scaling up newly created markets pioneered by others (in other

Overview

Discover why being a "fast second" is often more financially rewarding than being at the cutting edge.

If you get there first, you'll lead the pack, right? Not necessarily! The skill-sets of most established companies, say strategy experts Constantinos Markides and Paul Geroski, are far better suited to scaling up newly created markets pioneered by others (in other words, being "fast seconds") than to creating these markets from scratch. In Fast Second, they explore the characteristics of new markets, describe the skills needed to create and compete in them, and show how these skills match up with different types of companies. Drawing on examples of successful fast-second firms such as Microsoft, Amazon, Canon, JVC, Heinz, and many others, they illustrate how to determine which new markets have the potential to be successful and how to move into them before the competition does, when to make a move into a new market, how to scale up a market, where to position a company in the market, and whether to be a colonizer or a consolidator.

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Editorial Reviews

From the Publisher
“A bold challenge to conventional thinking with plenty of examples 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 and how these can help companies succeed in creating and colonising new markets.” (Brand Strategy, May 2007)

Product Details

ISBN-13:
9780787971540
Publisher:
Wiley
Publication date:
10/28/2004
Series:
J-B US non-Franchise Leadership Series , #178
Pages:
208
Product dimensions:
6.10(w) x 9.10(h) x 0.80(d)

What People are Saying About This

From the Publisher
“This is more than just an interesting new business book. It is a bold challenge of the pervasive conventional wisdom of building breakthrough, innovative capability as a foundation stone of competitive advantage. Through their strong and clear argument and their richly detailed examples, these leading strategic thinkers present a provocative set of ideas that no manager (or management teacher) can afford to ignore.”
--Christopher A. Bartlett, Thomas D. Casserly, Jr. Professor of Business 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 strategy for 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 Chaos

Meet the Author

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.

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Fast Second: How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets 5 out of 5 based on 0 ratings. 1 reviews.
Guest More than 1 year ago
A suggestion for those who found the thesis of this book interesting, but were put off by the amount of detail and examples (as two reviewers complained about elsewhere): I suggest augmenting this book with Reid Watts' 'The Slingshot Syndrome: Why America's Leading Technology Firms Fail at Innovation'. Watts' book was the first to propose the link between creative industries and radical products (and is acknowledged as such on pg. 176-177 of 'Fast Second'), and is very worthwhile reading for anyone seriously interested this subject (and, as I just discovered, B&N currently has a great price for it ...).