The question of imitability
9 important questions on The question of imitability
What advantage does a firm gain if it is a strategic innovator?
- Utilizing unique strategies that competitors cannot replicate.
- Leveraging imperfectly imitable resources.
- Capitalizing on market opportunities before rivals.
How can competitors respond when one firm gains competitive advantage?
- Ignore the success, resulting in a competitive disadvantage.
- Understand and duplicate the successful firm's resources for competitive parity or advantage.
What are the two forms of imitation that competitors may employ?
- Direct Duplication - Replicating resources; high costs lead to sustained advantage, low costs to temporary.
- Substitution - Replacing costly resources; low costs yield temporary advantage, high costs lead to sustained advantage.
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Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
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Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
What are the four sources of costly imitation identified by researchers?
- Unique Historical Conditions - Low-cost resource access due to timing.
- Causal Ambiguity - Unclear resource-advantage relationships.
- Social Complexity - Resources involving relationships that are hard to replicate.
- Patents - Legal protections that limit competition, especially in certain industries.
How does path dependence influence resource acquisition?
- Past conditions might allow cheaper access to resources.
- Future value can be uncertain, leading to misjudgment on costs.
- Over time, acquiring resources becomes increasingly expensive.
What happens when competitors ignore a firm's competitive advantage?
- A competitive disadvantage for the ignoring firm.
- Continued operation as before without adaptation.
- Potential loss in market share over time.
What is the implication of causal ambiguity for a firm's competitive advantage?
- It is unclear how a firm's resources contribute to advantage.
- Relationships may stem from complex, interrelated capabilities.
- Advantage is often based on 'taken-for-granted' factors.
Why are unique historical conditions significant in imitation context?
- They provide low-cost access to resources at a key time.
- Can lead to first-mover advantages in markets.
- Influence the difficulty of duplicating a firm's success.
How do patents affect competitive advantage in certain industries?
- Foreclosing other firms from market entry until expiration.
- Decreasing costs of imitation as information is revealed.
- Providing sustained competitive advantages in industries like pharmaceuticals.
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