"Being the first with a new innovation is great for your business - right?" "Err...well no... not really..." Research indicates that "fast followers" - that's imitators or copiers to you and me - get the best advantage. Too often there is a first mover disadvantage: the market is not fully developed, the offer is not fully formed, development costs are disproportionately high, risks are higher....the list goes on. Prof Oded Shenkar, in a book to be published by Harvard Business Press in June 2010, argues that 98.7% of the value of innovations goes to the imitators - this is not surprising as imitators grow the market. (What is surprising is the specific accuracy his findings!) But a lot of people have a real problem with "imitation". It is a major strategy for growth, but since we were kids we have been told: "don't copy...do it yourself". Our teachers have a lot to answer for on this front. It is a reflection of old meritocratic values where hard work and individual endeavour would get you out of the work house. We work in a very different environment now. Teams and networking are the heart of how we live. Sharing ideas and concepts which get developed through collaboration is a way of life. Open Source software is one of the most obvious examples; development through imitation and refinement for the good of all. In business imitation is not only rife it should be seen as a fundamental strategy for growth. Our whole development as a species has been built on imitation: Darwin showed us the way with the Origin of Species. We developed a wheel originally in solid rock or wood. Others imitated and in the imitation refined the concept from the original "rolling log" into the centuries old efficient hub and spokes design. So businesses should imitate. It is a core strategy and one that we should be proud of using effectively in growing our businesses. In many cultures copying is a core way of life: China is making more than a habit of it, Japan has done so for decades and was the basis of their growth in the second half of the 20th Century. They imitated, but in the imitation they improved and developed. Article distributed by www.freshbusinessthinking.com and written by Andrew Lester | Managing Partner Carr-Michael Consulting
Maybe this is why many people are switching to Plus-Ribbon!
Some call our ribbons ‘imitations’, others ‘clone’, many ‘counterfeit’… but these complimentary comments aside, one can not excuse the fact that our low cost great quality ribbons for ID card printers offer a superb alternative that is saving organisations money, and at a time when those savings are so critical. Shared by www.EagleTechnologies.co.uk
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| Eagle Technologies Ltd is an international wholesaler and manufacturer of Card ID Printers/Systems, consumables, plastic cards and general badge accessories. Eagle Technologies Ltd is located in the UK, Europe and USA and specialise in providing superior product and support via value add resellers, system integrators and ID Agents. © 2010 Eagle Technologies Ltd. All rights reserved. Eagle Technologies Ltd reserves the right to make changes at any time without notice. All other names and trademarks are the property of their respective owners. Eagle Technologies Ltd assumes no responsibility or liability for any errors or inaccuracies that may appear in this documentation. |
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