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Learning by Example: Imitation and Innovation at a Global Bank

Author

Listed:
  • David Strang

Abstract

In business, as in other aspects of life, we learn and grow from the examples set by others. Imitation can lead to innovation. But in order to grow innovatively, how do businesses decide what firms to imitate? And how do they choose what practices to follow? Learning by Example takes an unprecedented look at the benchmarking initiative of a major financial institution. David Strang closely follows twenty-one teams of managers sent out to observe the practices of other companies in order to develop recommendations for change in their own organization. Through extensive interviews, surveys, and archival materials, Strang reveals that benchmarking promotes a distinctive managerial regime with potential benefits and pitfalls. He explores the organizations treated as models of best practice, the networks that surround a bank and form its reference group, the ways managers craft calls for change, and the programs implemented in the wake of vicarious learning. Strang finds that imitation does not occur through mindless conformity. Instead, managers act creatively, combining what they see in external site visits with their bank's strategic objectives, interpreted in light of their understanding of rational and progressive management. Learning by Example opens the black box of interorganizational diffusion to show how managers interpret, advocate, and implement innovations

Suggested Citation

  • David Strang, 2010. "Learning by Example: Imitation and Innovation at a Global Bank," Economics Books, Princeton University Press, edition 1, number 9213.
  • Handle: RePEc:pup:pbooks:9213
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    Cited by:

    1. Eric Yanfei Zhao & P. Devereaux Jennings & Masakazu Ishihara & Michael Lounsbury, 2018. "Optimal Distinctiveness in the Console Video Game Industry: An Exemplar-Based Model of Proto-Category Evolution," Organization Science, INFORMS, vol. 29(4), pages 588-611, August.
    2. John L. Campbell & Charles Quincy & Jordan Osserman & Ove K. Pedersen, 2013. "Coding In-depth Semistructured Interviews," Sociological Methods & Research, , vol. 42(3), pages 294-320, August.
    3. Fehr, Ryan & Gupta, Abhinav & Guarana, Cristiano, 2021. "Rewarding morality: How corporate social responsibility shapes top management team compensation votes," Organizational Behavior and Human Decision Processes, Elsevier, vol. 167(C), pages 170-188.
    4. Zhao, Eric Yanfei & Ishihara, Masakazu & Jennings, P. Devereaux, 2020. "Strategic entrepreneurship's dynamic tensions: Converging (diverging) effects of experience and networks on market entry timing and entrant performance," Journal of Business Venturing, Elsevier, vol. 35(2).

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