innovation vs. immitation

Topics: Innovation, China, Market Pages: 8 (2487 words) Published: April 8, 2014
English Department
AIEN Institute
Shanghai Ocean University
Semester 2 2012/13

Semester Paper

Innovation VS Imitation

Qi YunZhi (Amber)
Student ID Number: 1292201
2012 Cohort – Class COM 15
Teacher: Kusual & Rob & Neil

I declare that this paper is all my own work and does not contain unreferenced or unacknowledged material. I understand that plagiarism may result in zero marks and no chance to rewrite. Signature:

Date:
Table of Contents
Contents Page

Introduction ----------------------------------------------------------------- Body ---------------------------------------------------------------------------

Conclusion---------------------------------------------------------------- Appendix --------------------------------------------------------------------- Reference------------------------------------------------------------------ Introduction

Business promotion mainly achieved through two strategies in today’s competitive world(Shenkar, 2010).One is innovation. The other is imitation. Innovation given meaning by Tim Kastelle in 2010 is executing new ideas to create value. Generally, it may be the act of introducing the different things to be the world such as 3C products, a strange service and even a simple idea (Nigam, 2012). Imitation is an activity that using the already ideas and copying from others (Mukhjia, 2012).

The biggest question pops in Manger’ head is that “Which one is the better strategy?” On one hand, the ability to innovate is gradually becoming the vital core competency to promote the performance of competition. (Nigam, 2012) It not only can achieve the profit in the market place, it also can lead the revolution in the world. For instance, the IPhone which innovated by Apple has already broken the traditional cell phone market. On the other hand, for most entrepreneurs, innovation is regarded as invaluable things because of its high input, long-term preparation and elevated risks (Mukhjia, 2012).Before the innovation be accepted by the customers, it should cost a lot to adapt to the market. Nevertheless, imitation also is working. The imitators find the advantages of successful innovations and then perfect them. To some extent, avoiding the enormous investment and the errors of the products, imitations make the bigger profit. Indeed, imitation is definitely a core element in the companies’ competitive strategy (Mukhjia, 2012).

The argument for innovation and imitation seems well established. Innovation is considered as the only way to attain the profit and progress, while imitation is related to copy and nothing to provide (Chen, 2012). But the management professor and China specialist Oded Shenkar (2010) say that “imitation is not only as critical as innovation to business survival and prosperity, but also vital to the effective exercise of innovation itself.” The paper will first offer some cases such as GE which defined as the leader in the field to clarify that imitation is the first step to commercial development. Following this, it is easy to find the importance of imitation. Thus, there are some critical differences between those who can get success from the imitation and those who fail. Finally, it will focus on how to make economic growth in a competitive world notably in China.

The paper aims to give an overall description of the current situation of innovation and imitation in today’s competitive world. By introducing more information about innovation and imitation, more readers will have their perspective on the strategic priority as well as hopefully in the future the paper can help motivate other researchers to develop this resource and make it accessible to ordinary people.

Body
Imitation is the first step to start innovation. There are some eminent firms known as innovators are essentially flawless imitators from the beginning such as Wal-Mart, Apple, Ford...
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