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For a Firm to Imitate the Strategy of Another Firm

question 54

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


Definitions:

Power

The power to shape or control the conduct of individuals and the flow of occurrences.

Inequality

The uneven distribution of resources, opportunities, and rights among people, leading to social disparities and discrimination.

Durkheim

A pioneering French sociologist, Emile Durkheim, known for his foundational work on social solidarity, religion, and the concept of the social fact.

Collective Conscience

The shared beliefs, morals, and attitudes that operate as a unifying force within society.

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