Compare and contrast an imitative strategy with an incremental strategy.
What will be an ideal response?
Companies may find it easier to mimic the strategies of other firms because of the expense and intense effort required to make decisions based on a radical innovation strategy. In addition, customers may view a new company as more legitimate if it imitates established practices in the industry. This is central to the idea of pursuing an imitative strategy, which is an overall strategic approach in which the entrepreneur does more or less what others are already doing.
Mimicking others is not the only strategy that an entrepreneur can pursue. Strategies that involve doing the same thing, or mimicking others, or pursuing an incremental strategy make a lot of sense when the business is continuing on a fairly steady course. Incremental strategy is taking an idea and offering a way to do something slightly better than it is done presently.
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