Imitation and innovation in business environment

Abstract

The main aim of this article is to demonstrate that in a dynamically changing business environment, an organization should focus on embracing imitation strategies such as a safer form of building up its market position. The author addresses issues of innovation and imitation, provides definitions and defines realistic conditions and advantages of imitation strategies. Innovation does not guarantee a company's market success. The research conducted has shown that imitation is not only a commonly used strategy of creating competitiveness, but it is also the foundation of many firms’ success stories. Innovative imitation, technological diffusion, creative imitation should be treated equally as innovation – as a another development strategy, different form of strategy implementation, assuming less risk and wider market access with less risk and cost.

Keywords

• innovation
• imitation
• strategy of innovation
• technology diffusion