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Most business strategy decisions are interdependent -- the best strategy for one company often depends vitally on the related strategy choices made by its competitors, customers, suppliers, and complementary goods and service providers. Game theory is the study of how strategic decisions are and should be made, given these interdependencies. A good game theorist "looks forward and reasons backward" to determine whether any move he or she makes is likely to elicit a favorable competitive response.
Based on several hundred case applications, and grounded in the latest academic research, this workshop teaches you how to apply valuable lessons from game theory when crafting your own competitive strategies in an interdependent world.
Objectives
The workshop is for senior business leaders, strategic planning heads and their staffs. Participants will learn how to better understand, predict and potentially shape competitive response to their companies' strategic initiatives. Lectures, group discussions, and case studies are used to introduce key concepts and processes, and breakout exercises allow participants to apply concepts to their companies' own interdependent strategy choices.
Benefits
Participants will:
- Learn how to focus their companies' competitive intelligence efforts to better understand and characterize interdependent strategy choices.
- Model key strategy choices that their companies face, and develop strategies that better account for likely competitor actions and reactions.
- Gain an understanding of tools and frameworks that enable decision makers to "look forward and reason backwards" when making interdependent strategy choices.
- Evaluate the "best" strategies to play in common business situations (e.g. price wars, market entry strategies, major capacity expansions)
- Identify long-term strategies and short-term tactics that help improve company and industry performance in oligopoly markets.