Success and Failure of Technology Pioneers and Early Technology Market Leaders

It is often claimed that bringing a truly innovative product or service to market is key to capturing a large share of that market and to ensuring long-term market leadership. Consequently, companies and governments should invest in innovation. However, a claim to the contrary is that history, including the history of technological advances, shows that pioneers and early market leaders rarely reap the benefits of being first, but instead will be overtaken by companies that enter the market at a later time and provide similar but better products/services. Consequently, companies and governments should invest in imitation and improvement, not innovation.

In your report you should present evidence and arguments supporting each of the two claims outlined above and derive your own conclusion regarding which claim seems to reflect reality more accurately.

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