For a firm to imitate the strategy of another firm, it must do four things: identify the target firm, incentivize the rival, diagnose the sources of competitive advantage, and acquire the resources needed.

Question

Quizplus · Accepted Answer

The correct steps for a firm to imitate another's strategy are: identify the successful firm, diagnose the sources of competitive advantage, obtain the necessary resources, and implement the strategy. Incentivizing the rival is not a required step in this process.

For a Firm to Imitate the Strategy of Another Firm