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Response lags in the context of competitive strategy refer to the delay in a competitor's reaction to a firm's strategic moves. This delay can occur due to various reasons such as the time taken to analyze the move, devise a counter-strategy, and implement it. The firm making the initial move aims to maximize this response time to gain a competitive advantage. This concept is crucial in managing threatening moves and influencing retaliation in a competitive business environment.
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How do you out-perform competitors and acquire a better understanding of key profitability drivers in your industry? This book, by the legendary Micha...
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The key to managing threatening moves is to be able to anticipate and influence retaliation. Competitor analysis helps predict the likelihood, speed, and magnitude of the reaction. The firm will choose to make moves that give it maximum time before a competitor responds. Response lags can happen due to the following reasons:
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