Copycats: how smart companies use imitation to gain a strategic edge

Purpose Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings In the business world, imitation gets a bad rap. We see imitating firms as “me too” players, forced to play catchup because they have nothing original to offer. In Copycats , Oded Shenkar challenges this viewpoint. He reveals how imitation is as critical to prosperity as innovation and 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 avoid costly errors by observing and learning from others' trials. Practical implications Provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Social implications Provides strategic insights and practical thinking that can have a broader social impact. Originality/value Copycats presents suggestions for making imitation a core element in your competitive strategy and pairing it powerfully with innovation.