A short passage but consider its importance to verse 1, "Imitate God, therefore, in everything you do...," What the Lord was pleased to do as He lived on this earth is what the Lord is pleased that we do while we live here as well. In simple language - find out what Jesus did and then do it.
I don't know that I have to elaborate on this. Soon, in another study, I'd like to take you through the passages in the New Testament that are similar to Ephesians 4:32, "...forgiving one another, just as God through Christ has forgiven you." Note the words, "...as God..." They speak of living as God lived. Doing what God did. Responding to situations as the Lord responded. This will be a study that basically helps you to "carefully determine what pleases the Lord."
Why is Paul telling his readers to do this? He's comparing Christians with the world around them. All too often we find ourselves "following the crowd" even the "Christian crowd" to help us determine how we should live. As much as believers should be good examples of living like Christ, the BEST example is Jesus Himself! And we have the New Testament to clearly show us "what pleases the Lord." So, once again, let me encourage you to read the four Gospels and take time to put today's Daily Verse to practice.