Business surveys by reputable organizations such as IBM, Boston Consulting Group, PwC and others inevitably conclude that innovation is important for business growth and profits. Yet only 4% CEOs have actually set up a system of innovation for their creation. They are hesitant to embrace innovation because of failure and uncertainty.
In the last three global CEOs of IBM, CEOs constantly said dealing with change would be their greatest challenge. In IBM CEO Study 2010, CEOs showcased creativity as the most important leadership feature. Creative business leaders have a system of innovation. However, innovation makes great risks and relates to business assets such as money, time, transport and possibly expensive equipment.
These CEOs are constantly looking for less risky ways. Now the look is over. The solution is Copycat Innovation.
What is Copycat Innovation?
Copycat Innovation is about adapting a proven solution to innovate, thereby reducing risk and streamlining success. In short, it's about taking what works best and improving it.
Copycat Innovation is not about a complete imitation of existing products, services or processes. Creation and innovation is required. It has organized methodology.
Copycat Innovation does not object to copyright. It does not include a patent infringement. Copycat Innovation enjoys an opportunity for previously research and development involving borrowing and development of existing products, services, marketing systems and technology to shape a competitive marketplace.
By applying the 7-step Copycat Innovation process, you can eliminate fear and frustration that reduces risk and maximizes performance by doing what works well, even better.
Why Copycat Innovation?
Coming with & nbsp; revolutionary & # 39; and & # 39; completely new & # 39; Innovations are both tempting and glamorous. After all, success could mean a dominant position. Such a policy, however, poses a high risk. In addition, it usually requires a lot of work and resources. It's a complex, costly business and often shows very little promise of return on investment. Working with the successor to a successful product must start immediately. This means that an effective research plan must become ever higher than the original innovation. Examples of this approach are Intel, 3M and P & G.
Globalization and the emergence of the Internet are easier, simpler and proven new way to minimize risk and maximize performance. This way is called "Copycat Innovation". An example of this approach is Apple in developing an iPod, iPhone and iPad series of products, Samsung's business plan and banking.
The fact is that this approach is not new. It has been performed by countless successful companies and organizations. But no one had given it a common name until now. After doing extensive research, I mentioned this approach Copycat Innovation and has developed a 7-step methodology for Copycat Innovation, a methodology that forces the Global Brain's scary power over the internet.
In summary, Copycat Innovation is likely to offer you the best approach for your business in maintaining and enhancing your competitiveness and market strategy because it is:
* Easy to implement
* Low risk, like you are adjusting or clearing a proven solution
* Low cost, as the research and development work has already been done for you
* Requires much less capital, including people, time, money and effort
Examples About Copycat Innovation
* Apple: Apple launched the iPad in 2010 by clearing and customizing technology from many sources. For example, the first tablet computer was built by Microsoft in 2001. MIT created a touchscreen technology and handed motion system to turn pages or move screens. Of course, Apple presents many innovations on the iPad too.
* Samsung: Samsung base of Lee Kun-hees formula to be the first in the market with copycat product when it has a new opportunity has helped turn Samsung into international brands over the last decade, or reflecting the market value of 143 billion US dollars, larger Intel and Hewlett Packard, and equivalent to the combined value of Sony Corp., Nokia, Toshiba and Panasonic Corp. This is because of being an innovative entrepreneur and creating a new market requires high risk and takes a long time to achieve profitable results.
* Franchising: Franchising is a systematic form of Copycat Innovation. According to US government statistics, employers have 97% success within 5 years from the start, while non-commitments companies have a relatively low success rate of 48% in the first 6 years.
* McDonalds: Founders of White Castle, Walt Anderson and Billy Ingram, are widely recognized by finding both burgers and fast food. However, McDonalds, the world's fastest fast food restaurant, has through its innovative marketing much better results from hamburger-fast food restaurants.
The 7-Step Methodology for Copycat Innovation
7-step process for Copycat Innovation that provides measurable performance-driven (KPIs) fast-paced innovation by tap into the world's awesome power of the brain is as below :
1. Identifying the fundamental point;
2. Taking the Michelangelo Approach;
3. Do the best things better;
4. The new bike;
5. Sell Copycat Innovation;
6. Implementation of Copycat Innovation;
7. Recognition and Celebration.
Fastcompany and the Businessweek magazine have recognized Apple as the world's newest company. It is probably also the world's highest copycatter. Steve Jobs, Apple Founder and CEO, openly accepted this as one of his presentations. He said: "Good artists copy, great artists steal. And we've always been seamless about stealing great ideas."
In its revised new book, "Copycats: How Smart Business Use Imagination to Achieve Dating" published by Harvard Business Publishing, identified an Oded Shenkar study in the period 1948 to 2001 that revealed 97.8% of innovation value goes to imitators! He calls it imovation (Imitation + Innovation) that is exactly what Copycat Innovation is about.