Abstract
I develop a model of strategic adaptation which distinguishes four broad strategic logics, encompassing the market position and evolutionary behavioral approaches towards strategy. The model relates these logics to selection environments possessing different levels of competition for resources and knowledge, and different mechanisms of firm survival and success, where success is defined in terms of above average performance. The resulting model explains when and why firms are more likely to adopt specific strategic logics, trajectories of strategic adaptation, and related modes of innovation and imitation. I then discuss implications for research into the processes of strategy formulation, adaptation and renewal, and the management of innovation and imitation.
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