Imitation To Innovation

Given the fact that global resources are becoming rare and expensive, should nations and firms prefer imitation to innovation?

Yes, firms should imitate other successful organization until they are strong enough to innovate a new product. It is cheaper and easier for a startup firm to limit the risk of failing. Here are some of the reasons from Forbes magazine: Avoid initial major R&D cost by Imitating. Learn from competitors and early adopters. Easier to find investors. Imitation drives progress. Try a new country or market.

Of course, you still have to do your homework and market research. Just because something works in Silicon Valley, doesn’t mean it will work in Peoria. Also, imitations done without the normal

With emerging technology and new firms forming with similar ideas, a strict solution must be proposed to prevent the theft of intellectual property (IP). As mentioned, developing countries want to have a shorter lifetime patent versus developed countries who want a longer life span of patent contract. The reason for this is probably because with a shorter life span, developing countries can form similar products and sell them for a higher profit. This article emphasizes that imitation can be an effective competitive strategy. On the contrary, the United States labels imitators are counterfeits, clones, and copycats. However, imitation can lead to innovation. Sometimes basing something off of someone’s idea might lead to a nouveau idea. Innovation is known as the creative destruction that was caused by imitations which is defined as “diffusing innovations: The reason why all of this is a conflict is because developing countries lack funding. Due to the lack of money they are more likely to do something illegal and follow the path of counterfeiting. People who cannot tell the difference between the original and the fake will choose to buy the cheaper item. The patent contracts should be universal; not only will this eliminate issues in the developing countries, but it will also stop developed countries such as the U.S. from taking advantage of

Many of the concepts and topics discussed in the paper can be applied to the way international businesses communicate with each other in modern times. For example, the “learn-by-doing” method of American businesses and the “learn-by-watching” method of Japanese businesses are true today, and it is important to take notice of these differences and work with them to improve communication and collaboration in cross-cultural business. Although management methods in these two countries contrast in many ways, it is important to remember that both countries have strong business backgrounds with skilled and productive workforces. While Bolton may have had these insights several years ago, they are still applicable today and should be examined and discussed to improve management and communication within international