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Copycat Innovation – Procedure Which Minimizes Risk and Optimises Success

Business surveys by Reputable organisations like many others, Boston Consulting Group, PwC and IBM come to the conclusion that innovation is crucial for profits and business growth. Yet, only 4 percent of CEOs have really put in place a system of innovation for their own organization. They are hesitant to adopt innovation from uncertainty and failure. In IBM three CEOs studies, CEOs said that dealing with change was their challenge. From the IBM CEO Study 2010, Creativity was declared by CEOs as the leadership feature. The business leaders possess a system of innovation. But, invention ties up the resources like time, money, logistics and expensive equipments of the company and carries risk.

These CEOs are On the lookout for a way that is less risky. The appearance is over. The remedy is Copycat Innovation.

What is Copycat Innovation?

Copycat Innovation is About adapting a solution that is proven to develop an innovation, thereby minimizing risk and maximizing success. It is all about improving it and taking what works. Copycat Innovation is Not about a imitation of service, an existing product or procedure. Innovation and creativity are required Route optimalisatie. It is a methodology. Copycat Innovation does not challenge copyright. Nor does it involve patent violation. Copycat Innovation takes advantage of R&D involves the borrowing and growing of products, services, marketing systems and technology to split a market that is competitive in the market and carried out. By applying a 7-step Copycat Innovation procedure, you can remove the fears and frustrations of optimizes achievement and the minimizes risk by making what works even better.

Why Copycat Innovation?

Coming out with ‘breakthrough ideas’ and ‘new’ innovations are glamorous and tempting. In the end, market domination could be meant by success. However, such a strategy carries risks that are big. Additionally it demands resources and efforts. It is an activity that is often shows little guarantee of a return on investment, and costly. Work on the successor of the product that is successful must begin. This means that the research budget has to be higher than the initial innovation. Examples of this approach are P&G, 3M and Intel. With globalization and The advent of the world wide web, there’s an easier, simpler and recognized route to optimizing success and minimizing risk. This route is termed Copycat Innovation. Examples of this approach are Apple in creating the iPad, iPhone and iPod collection of products, banking and Samsung’s business plan.

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