Introduction
Innovation is a key factor in industry growth. Innovators can dominate competitors and new markets. In the article “Blue Ocean or Fast Second Innovation? A Four Breakthrough Model to Explain Successful Market Domination”, Buisson and Siberzahn (2010) highlight how the theories of the first mover and fast second are recognized as the primary approaches to achieving innovation and domination in the market space. Buisson and Siberzahn (2010), insist that neither of these two theories can fully account for market domination and offer research and a comprehensive literature review that to suggest and explain the assertion that market domination is achieved by using four types of breakthroughs either concurrently or separately. The intent of this paper is to describe and highlight the shortcomings of the first mover and fast second theories as described by Buisson and Siberzahn (2010). Summarize their views of the four breakthroughs, review the literature provided, examine the methodology, and report the key findings of their article.
The Problem With The First Mover Approach
According to Buisson and Siberzahn (2010), neither first mover nor fast second innovation models can fully explain market domination by a company. The first mover approach is one in which the company enters the market, creates and dominates the new area (Buisson, B. & Siberzahn, P. 2010). Buisson and Siberzahn (2010) note that the first mover approach is on top of mind of business leaders due to the introduction of Kim and Mauborgne’s Blue Ocean Strategy (2004). Theoretically, blue oceans represent a sphere of a newly created market where pioneers can dominate, competition is limited or nonexistent, and first movers hold the overwhelming advantage (Buisson, B. & Siberzahn, P. 2010). As opposed to red oceans, that represent the market, as it exists currently with intense