They say the lessons you learn in grade school will lead you down the path to success.
One of the lessons I learned was in fifth grade was when Billy Peters got caught copying all of the answers on a test from a classmate. His efforts in taking the easy route earned him a zero on the test and a trip to summer school. He paid the price for underhanded tactics and the whole class learned that cheating was wrong.
One might think that might apply in the business world as well, but in the race to increase profits and market share many in the real world take short cuts. A case in point can be illustrated with the recent Apple vs Samsung trial. Apple spent 5 years bringing the iPhone to market and in a matter of months Samsung miraculously had an almost identical phone on the market. Coincidence or calculated copy?
Some insiders are actually speculating, that Samsung saw the writing on the wall and decided that it was cheaper and faster to take the risk and copy. The goal is simple, save the time and money of innovation by copying and altering the concept ever so slightly, then bring it to market as your own. By the time you get sued you have made a bucket load of cash and even if you are found guilty the judgement it will be less that the R&D. You can indeed take the easy route and win.
Some say Samsung earned far more by copying the iPhone than any judgement could have ever offset.
So now we turn to the automotive industry. Have you ever wondered just how some automakers innovate year after year, and others simply rehash existing technology and make it their own? Yes, the Samsung effect is here too, actually everywhere you look.
So the question is are you willing to pay for cutting-edge technology and safety features, or pay a lower price down the road for a watered down version? It is all about money and time but is there a Samsung in our auto industry?
If so why and who?