In the business world, imitation gets a bad rap. We see imitating firms as 'me too' players, forced to copy because they have nothing original to offer. We pity their fate: a life of picking up crumbs discarded by innovators striding a path paved with fame and profit.
In Copycats, Oded Shenkar challenges this viewpoint. He reveals how imitation—the exact or broad-brushed copying of an innovation—is as critical to prosperity as innovation.
Shenkar shows how savvy imitators generate huge profits. They save not only on R&D costs but also on marketing and advertising investments made by first movers. And they avoid costly errors by observing and learning from others' trials.
Copycats presents suggestions for making imitation a core element in your competitive strategy and pairing it powerfully with innovation, including:
· How to select the right model to imitate
· How to avoid oversimplification of a model
· Which imitation strategy to use
· How to prepare and execute an implementation plan
Engaging, practical, and rich in company examples, Copycats unveils how to add imitation to your competitive arsenal.