To successfully imitate the strategy of another firm, an organization must
A)identify and diagnose the rival's advantage, believe in its ability to deliver a superior return, and, finally, acquire the resource.
B)identify and diagnose the rival's advantage, and then acquire the resource.
C)benchmark the rival's activities and resources, believe in a superior return, and build the rival's resource in-house.
D)benchmark the rival's activities and resources, identify the rival's weaknesses, and, finally, believe in its ability to deliver a superior return.

Question

Quizplus · Accepted Answer

To successfully imitate the strategy of another firm, an organization must first identify and diagnose the rival's advantage, and then believe in its ability to deliver a superior return. Finally, the organization must acquire the necessary resources to implement the strategy. These steps are all included in choice A. Choice B is too simplistic as it does not take into account the importance of understanding the rival's advantage. Choice C is an option but may not be the most efficient use of resources. Choice D includes the important step of identifying the rival's weaknesses, but does not address the need to acquire the resources necessary to imitate the strategy.

To Successfully Imitate the Strategy of Another Firm, an Organization