Business surveys by reputable companies such as IBM, Boston Consulting Group, PwC and others inevitably come to the same conclusion that innovation is crucial to business growth and profitability. However, only 4% of CEOs have actually implemented an innovation system for their organization. They are reluctant to embrace innovation because of failure or uncertainty.
In the last three global surveys of IBM CEOs, CEOs have consistently said that fighting change is their most pressing challenge. In a 2010 IBM CEO Survey, CEOs cited Creativity as the most powerful leadership feature. The most creative business leaders have an innovation system. However, innovation carries a high risk և tying up company resources such as money, time, logistics և possibly expensive equipment.
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These CEOs are always looking for a less risky way. Now, the look is complete. The solution is Copycat Innovation.
What is Copycat Innovation?
Copycat Innovation is a proven solution for innovating to minimize risk and optimize success. In short, it is about what works best – to improve on it.
Copycat Innovation is not a large-scale imitation of an existing product, service or process. Creativity և innovation is required. It has a structural methodology.
Copycat Innovation does not dispute copyright. It does not include patent infringement. Copycat Innovation utilizes earlier R&D և includes development of existing products, services, marketing systems և technology borrowing: to create a competitive position in the market.
By using the 7-step Copycat Innovation process, you can eliminate the fears and frustrations that minimize the risk, optimize success, and make what works best.
Why Copycat Innovation?
Coming up with “frontline ideas” and “brand new” innovations is both tempting and glamorous. After all, success can mean dominating the market. However, such a strategy carries great risks. Moreover, it usually requires a huge amount of effort and resources. It is a complex, costly, often very low return on investment activity. Work on the successor to a successful product must begin immediately. This means that the next research budget should be higher than the initial innovation. Examples of this approach are Intel, 3M և P&G.
With the advent of globalization և the internet there is an easier, simpler և proven new way to minimize risks ալ optimize success. This path is called Copycat Innovation. Examples of this approach are Apple’s iPod, iPhone և iPad product development, Samsung’s business strategy և banking.
The fact is that this approach is not new. It has been implemented by countless successful companies and organizations. But so far no one has given it a common name. After conducting extensive research, I called this approach Copycat Innovation և developed a 7-step methodology for Copycat Innovation, a methodology that invests the great power of the World Brain through the Internet.
In short, Copycat Innovation offers, for your organization, probably the best approach in the market to ձեր maintain your competitiveness և maintain a strategic position և as it’s the following:
* Simple to implement
* Low risk as you customize or develop a proven solution
* Inexpensive because the research and development work has already been done for you
* Requires far fewer resources, including people, time, money, or effort
* A quick way to commercialize
* It is legal: moral
Examples of Copycat innovation:
* Apple. Apple released the iPad in 2010, perfecting and adapting multiple source technologies. For example, the first tablet computer was built by Microsoft in 2001. MIT developed Touch Screen technology և handheld motion systems for flipping pages or moving screens. Of course, Apple also introduces a lot of innovations in the iPad.
* Samsung. Samsung co-founder Lee Kun Hee’s formula for being the first to market duplicate products when there is a new opportunity has helped Samsung become the world’s leading brand over the past decade, boasting $ 143 billion in market value, greater than Intel և Hewlett Packard և is equal to the combined value of Sony Corp, Nokia, Toshiba և Panasonic Corp. This is due to the fact that being innovative, creating a new market requires a lot of risk, it takes a long time to achieve profitable results.
* Franchising. Franchising is a systemic part of Copycat Innovation. According to US Chamber of Commerce statistics, licensed businesses have a 97% success rate within 5 years of opening, while non-franchised businesses have a relatively low success rate of 48% in their first 6 years.
* McDonalds. White Castle co-founders Walt Anderson and Billy Ingram are widely credited with inventing both the hamburger and fast food businesses. However, its duplicate McDonalds, the world’s largest fast food chain, is far more successful in its hamburger fast food business due to its marketing innovations.
Copycat 7-step innovation methodology
Copycat Innovation’s 7-step process for delivering fast, measurable results-based (KPIs) innovation using the great power of the global brain is as follows:
1. Identification of the main problem;
2. Accepting Michelangelo’s approach;
3. Make the best the better;
4. Innovation wheel;
5. Sale of Copycat Innovation;
6. Implementation of Copycat innovation;
7. Recognition և celebration.
Fastcompany և Businessweek magazine named Apple the most innovative company in the world. He is probably the most skilled copyist in the world. Apple co-founder and CEO Steve Jobs openly admitted this during one of his presentations. He said. “Good artists copy, great artists steal. And we have always been shy about stealing big ideas. ”
In his much-revised new book, Copycats. How Smart Companies Use Imitation to Gain a Strategic Advantage, published by Harvard Business Publishing . imitators! He calls it imitation (Imitation + innovation), which is exactly what Copycat Innovation is about.