Imitation is more valuable than innovation

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In recent paper entitled “Imitation is More Valuable Than Innovation” by Oded Shenkar (Harvard Business School, 2010), it was determined that 97.8% of the value of innovations goes to the imitators. For example, Chrysler invented the modern minivan around 1984, however they currently own only half of the minivan market, the other half being mostly shared by imitators such as the Toyota Sienna, Honda Odyssey, and Dodge Grand Caravan. Other examples are McDonald’s restaurant operations that were pioneered by White Castle; or Visa, Master Card, and American Express who borrowed from the efforts of Diners Club to introduce a plastic card for consumers to make purchases. Based on the on your reading of the Value Innovation article, provide three reasons why you think innovators lose their way and are caught up by copycats.

Reference no: EM131485843

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