CANCELLED: 11/18 Lunch: Oded Shenkar of Ohio State University

The lunch will take place in February.

Copycats: How Smart Companies Use Imitation to Gain a Strategic Edge

What is more critical for economic prosperity: innovation or imitation? Most would assume that innovation is much more important than imitation, but Professor Shenkar challenges this view and argues that imitation is as important to prosperity as innovation. He will illustrate how talented imitators generate large profits by saving on R&D, marketing and advertising costs, and avoiding costly errors by observing and learning from other’s trials. He will present suggestions for making imitation a core element of competitive strategy and how to pair it with innovation. These suggestions cover how to select the right model to imitate, how to avoid oversimplification of a model, which imitation strategy to use, and how to prepare and execute an implementation plan.