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

Imitation is not only the sincerest form of flattery, but can also be very useful business wise. "Copycats: How Smart Companies use Imitation to Gain a Strategic Edge" is a guide to why the sometimes derided imitation can prove to be a good and useful thing in business, stating that a good proven idea can be useful if done right, although it's easy to fall into the mistaken pit of knock offs. With plenty of strategy and thought on the matter, "Copycats" is a useful resource for any business who sees innovation as creative theft.

This is my first review. I felt that I needed to give my opinion on this book because it's REALLY good. The author describes many examples of a companies that we think are innovators, when in fact they're imitators. Examples include: - Apple - Microsoft - Visa - Master - Walmart - McDonalds They weren't imitating 100% but took the main concepts and improved on them. The author calls them imovators, companies that imitate + innovate. I was frustrated with the business community overall because it focused so much on innovation and so little on imitation, when in fact, some research shows that as much as 97.8% of the value of innovation goes to imitators! (source: [...]). Ouch! Personally, I own a very small business and been lured into thinking I need to 'innovate' and that imitation is bad. Now, when I've learned that imitation is OKAY (within legal boundaries, the author says upfront he speaks about legal, not illegal imitation) I found many profitable opportunities around me. I started to look at various trends and realize how big of a potential there is out there. This book made me see a world I never dared to see before.

Well written, researched and fundamentally sound, Copycats delivers. Taking on the age old paradigm: imitate vs innovate, Dr. Shenkar lifts the shameful stigma that often is associated with imitating. Citing our biological, societal and economical need to imitate, Shenkar creates a very compelling argument: imitating is smart, here's why. You'll very much enjoy this gem.