The Catch-up Process Mechanism of Latecomers from Catching Up to Leading:A Case Study Based on Maxeye
Enterprises need to seize opportunities to seek developments.When there is an opportunity for the legitimacy of the incumbent to decline,seizing the opening and internalizing the window of opportunity becomes the key to the survival of latecomers and even the exploitation of the future market.Based on the practice of Maxeye's catching up and surpassing,the paper explores the catch-up process mechanism of latecomers from catching up to leading.The research finds that the reduction of the legitimacy of the incumbents leads to the opening of the window of opportunity and the internalization of the window of opportunity b y the latecomers,which together promote the latecomers to achieve the goal of catching up with innovation.To be specific:(1)in the catch-up stage,the reduction of the practical legitimacy of the incumbent leads to the opening of the window of opportunity for the dual interaction of demand and system.Latecomers adopt the strategic path of market and capability integration to internalize the opportunity window,and seek opportunities through opportunity perception capability and market demand,resource integration capability,market legitimacy acquisition,innovation experimentation capability and market preference shaping to achieve market leadership and capability building.(2)in the leading maintenance stage,the reduction of the incumbent's technical legitimacy triggers the opening of the leading opportunity window of the technology unit,and the latecomer enterprises adopt a technological innovation strategy to internalize the opportunity window,and achieve technological breakthroughs through independent secondary innovation,independent disruptive innovation,and hybrid open innovation.Finally,the theoretical framework of"reducing the legitimacy of the incumbents—opening the window of opportunity—matching the strategic path and behavior—catching up results"is constructed.
legitimacy of the incumbentwindow of opportunitylatecomerscatch-up
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