To subscribe to ExchangeEveryDay, a free daily e-newsletter, go to www.ccie.com/eed
|
A pillar of the American spirit is innovation — the image of thousands of creative individuals cranking out inventions in garages. Now along comes along a researcher from Ohio State University, Oded Shenkar, who argues that "Imitation is more valuable than innovation." Such heresy, right? In defending this conclusion in the Harvard Business Review (April 2010), Shenkar made these points....
"It's true — copying others' ideas is good business. Sometimes its great business.... Good imitators ... don't just copy an idea, they come up with a cheaper or better — increasingly it's cheaper and better — mousetrap....
"If you take the leading player in many sectors, you'll be surprised to see that it's not the pioneer, but the able and creative innovator [that we celebrate]. Think McDonald's, which imitated a system pioneered by White Caste; think Visa, MasterCard, and American Express, which all borrowed from the efforts of Diner's Club to introduce the plastic card to a then-skeptical audience of consumers and merchants....
"[Imitation] is not simple. Many imitators are attracted to the visible elements of an innovation and fail to copy what makes it successful, the 'supporting beams.' Sometimes they wrongly assume that what worked in Peoria will work in New York. Others are so glued to the original that they fail to make adjustments that will make an innovation better. To improve their odds, imitators need to understand 'true' imitation, develop the capabilities that enable its effective use, and learn to deploy imitation strategies."
 |
 |
For more information about Exchange's magazine, books, and other products pertaining to ECE, go to www.ccie.com.
|
© 2005 Child Care Information Exchange - All Rights Reserved | Contact Us | Return to Site