Sociology Index

Karaoke Capitalism

Karaoke Capitalism refers to the philosophy of imitation, engrained into the corporate mindset by such popular concepts as benchmarking. karaoke capitalism is institutionalized imitation, where copycat firms dominate.

"Competing in a world of karaoke capitalism is about daring to be different, it is about writing the songs of the future and not focusing on the tunes of the past," Dr. Jonas Ridderstrale.

The Dr. Jonas Ridderstrale and Dr. Kjell Nordstrom are the authors of international bestsellers "Funky Business" and now "Karaoke Capitalism: Talent makes capital dance." According to Tom Peters, If you loved Funky Business as much as I did, then you love Karaoke Capitalism. State Capitalism merely substituted bureaucratic domination by the state officials for that of owners of capital. Spirit of Capitalism is methodical and calculating in the pursuit of profit. Karaoke Capitalism is institutionalized imitation, where copycat firms dominate. Crony Capitalism arises when political cronyism extends into the business domain.

According to Dr. Jonas Ridderstrale and Dr. Kjell Nordstrom, the corporate world is now under siege from "karaoke capitalism" or institutionalized imitation, where copycat firms dominate.

"No matter how talented you are in a karaoke bar, you are going to end up being a pale copy of an original," Jonas Ridderstrale told CNN.

The karaoke capitalism economy is dominated by individuals with endless choice. Karaoke capitalism club is also home to institutionalized imitation. Only imagination and innovation place societies, organizations and individuals center-stage.

Nordstrom criticised 'karaoke capitalism' as the pursuit of 'best practice', arguing that it merely encourages businesses to become more like their competitors, rather than unique or better. 

Books On Karaoke Capitalism

Karaoke Capitalism: Management For Mankind - Jonas Ridderstrale, Kjell Nordstrom - A workout for the wits in Karaoke Capitalism.

Karaoke Capitalism : Daring to Be Different in a Copycat World
Jonas Ridderstrale, Kjell A. Nordstrom.