Wednesday, July 10, 2019

Originality In Business

Business history teems with examples of originality, as innovation is the catalyst that carried the corporate world to its current stage.  Corporate originality is now commonplace in the sense that many people expect innovation from their preferred industries, regardless of how developed those industries already are, and their expectations are often met in some way by advancement.  Indeed, without originality, various businesses would in many cases lose the ability to stand apart from their rivals.

Originality can be an instrumental part of a company's plan of success, an approach that is sometimes referred to as the differentiation business level strategy [1].  Differentiation is simply the process of making a product different from that of a competitor.  As such, it often involves some degree of novelty or originality, although exclusivity--being the only firm to offer an otherwise unoriginal product or service--can also be involved.  Exclusivity is not always easy to maintain, however, and thus innovations are called for.  The process of innovation provides a competitive advantage that can dramatically elevate a company, even if only for a brief but crucial period.

Innovation must not be mistaken for a sure sign of consumer approval, though.  Sometimes a product's unique features might actually be so foreign to consumers that they frighten or deter potential buyers.  For example, if a major car production company began openly selling the first mainstream self-driving car, many people would probably avoid buying it at least until users confirmed its safety.  A self-driving feature might be unique, but it would almost certainly terrify many drivers!  If originality spurs a company to design a product with a high chance of being rejected because of perceived danger or oddity, the product must be introduced and marketed with special care.  In a corporate sense, innovation is beneficial as long as it can result in revenue.

Originality in business thus contrasts with intellectual originality in a key way.  Both forms of intellectual originality--the discovery of previously unknown or little known facts and the autonomous creation of a sound worldview respectively--are always valuable [2], and the significance and necessity of the second form are undying even after the first form is exhausted.  When it comes to business, the only form of originality that tends to be profitable is the introduction of something new.  If a company independently discovers an innovation that has already been identified and exploited by a rival firm, the discovery is still a manifestation of originality: no external source helped the innovation come about.  However, it is of little to no usefulness in securing a competitive advantage.

There is no indication, of course, that many contemporary firms have come anywhere near exhausting the first and primary form of business originality, as continual product and service changes evidence.  While intellectual/philosophical and scientific originality are always possible and needed,  the fact that only one form of originality in business is most likely to generate revenue means that only one form of originality is continually relevant to the business world.  Thankfully for eager consumers, this type of originality has yet to be depleted.


[1].  The differentiation strategy is often distinguished from the cost leadership strategy (which emphasizes comparatively low product/service prices), focused differentiation strategy (which combines differentiation with a focus on a niche market), focused low cost strategy (which combines cost leadership with a focus on a niche market, and integrated low cost/differentiation strategy (which combines cost leadership and differentiation tactics).

[2].  https://thechristianrationalist.blogspot.com/2019/03/a-benefit-of-emphasizing-originality.html

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