lets discuss below Being that the accounting industry is service-focused, this assessment of whether it has benefitted the most from either a first-mover or second-mover advantage was initially unclear. The scope of the accounting "umbrella" covers various services including accounts payable, accounts receivable, audit, tax planning and reporting, investments, and consultation. Firms compete on a playing field of expertise and knowledge versus the tangibles of input and output of materials or goods. Therefore, the decisions accounting managers and owners face relate more to the knowledge provided from the teams of experts and offering exceptional customer service.

A first-mover advantage "permits a firm to earn a higher payoff by committing to a decision before its rivals get a chance to commit their decisions" (Baye pg. 421). A second-mover advantage "can yield higher payoffs than being first if it permits the second mover to free-ride on investments made by the first mover" (Baye pg. 423). Considering that the accounting industry has not been made obsolete in the face of technology and automation, I think first-mover advantage has made it the most successful. Looking at the Big Four accounting firms, some of them have beginnings that go back to the mid-1800s. The Big Four firms consist of the largest professional accounting firms in the world, measured by revenue: Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers. Due to this longevity and ongoing consumer need, I don't believe accounting firms are threatened by second or subsequent mover advantages.

Do you think service-based industries typically succeed with a first or second-mover advantage? Why or why not?

Baye, M. R., & Prince, J. (2017). Chapter 13: Advanced Topics in Business Strategy. In Managerial Economics and Business Strategy (pp. 421-423). essay, McGraw-Hill Education.