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This research explores early mover advantages and performance in the cyber market based on an empirical test. It also examines whether early mover strategic capabilities are able to adopt mutually cumulative relationship in the cyber market. Early movers such as eBay.com and Amazon.com seem to have been able to defy exclusive relationship between strategic capabilities. Compared with their followers such as uBid.com and buy.com, they have been able to adopt strong focus, differentiation, and cost leadership strategies. The purpose of this paper is to investigate the differences in strategic choices based on the strategic capabilities and performance of online firms between early movers and followers. The study reviews early mover advantages and disadvantages, and a strategic typology based on Porter's model, as well as strategic capabilities based on the sand cone model. Results show that early movers have more cumulative strategic capabilities than followers do in marketing differentiation, innovative differentiation, and cost leadership. However, unlike hypothesis, for focus strategies early mover is also better than follower. These results should provide motivation for practitioners and entrepreneurs to reexamine traditional strategic approaches and order of entrance effects in cyber market.