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The word "incumbent" is derived from the Latin verb incumbere, literally meaning "to lean or lay upon" with the present participle stem incumbent-, "leaning a variant of encumber, [1] while encumber is derived from the root cumber, [2] most appropriately defined: "To occupy obstructively or inconveniently; to block fill up with what hinders freedom of motion or action; to burden, load."
Incumbents usually appear when a company is profitable or economically successful and other competitors fight against it to reach that position in the market. [2] Customers are essential for a business growth but a company can't control their product and services preferences, so firms have to do the impossible to keep the satisfaction of ...
Strategic excess capacity may be established to either reduce the viability of entry for potential firms. [5] Excess capacity take place when an incumbent firm threatens to entrants of the possibility to increase their production output and establish an excess of supply, and then reduce the price to a level where the competing cannot contend.
By the time the new product becomes interesting to the incumbent's customers it is too late for the incumbent to react to the new product. At this point it is too late for the incumbent to keep up with the new entrant's rate of improvement, which by then is on the near-vertical portion of its S-curve trajectory.
Incumbent firms may have an exclusive right to use the brand name, making it expensive or impossible for new entrants to license rights to names. [10] Capital requirements - Many industries require the investment of large financial resources to start a new business, which deters new entrants. For example, new airlines require millions of ...
Interviews with incumbents are one method of conducting a job analysis. Interviews: It is essential to supplement observation by talking with incumbents. These interviews are most effective when structured with a specific set of questions based on observations, other analyses of the types of jobs in question, or prior discussions with human ...
An incumbent local exchange carrier is a local exchange carrier (LEC) in a specific area that on the date of enactment of the Telecommunications Act of 1996 , provided telephone exchange service on the date of enactment, was deemed to be a member of the National Exchange Carrier Association pursuant to the Code of Federal Regulations (C.F.R ...
Incumbents may also be found in the countries' articles (main article and "politics of") and the list of national leaders, recent changes in 2024 in politics and government, and past leaders on state leaders by year and colonial governors by century.