Imitation and innovation are rarely the subject of deeper analysis in the existing literature on the dynamic capabilities construct. Given the potential both imitation and innovation have, this situation is hardly satisfactory. This monograph is an attempt to fill this gap and its purpose is to join a discussion on the strategic dimension of dynamic capabilities analysed in the context of imitation and innovation. Studies forming part of this monograph include references to institutions and business organisations operating in various sectors. What they have in common is that they attempt to answer some questions about how the different dimensions of innovation and imitation efforts are related to dynamic capabilities of organisations.