Game Theory at Work: How to Use Game Theory to Outthink and - download pdf or read online

By James Miller

ISBN-10: 0071400206

ISBN-13: 9780071400206

An easy-to-follow, non-technical method of utilizing video game thought in each enterprise battle.

Game idea has turn into entrenched in today's company global. It has additionally usually required oppressive and incomprehensible arithmetic. "Game concept at Work" steers round math and pedagogy to make this cutting edge instrument available to a bigger viewers and make allowance all degrees of industrial to take advantage of it to either increase decision-making abilities and dispose of almost certainly deadly uncertainty.

This confirmed instrument calls for all people in a company to examine the contest, guage his or her personal responses to their activities, after which identify a suitable method. "Game conception at Work" may also help enterprise leaders in any respect degrees enhance their performance in: * Negotiating * selection making * setting up strategic alliances * advertising * Positioning * Branding * Pricing

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Extra info for Game Theory at Work: How to Use Game Theory to Outthink and Outmaneuver Your Competition

Sample text

The company’s executives drove a development effort that succeeded in creating numerous breakthroughs in television technology, offering picture quality that customers loved and that the competition, at the time, could not match. Yet, despite sterling execution and rave reviews, Philips’s high-definition TV flopped. Even the most brilliant innovation cannot succeed when its value creation depends on other innovations—in this case the high-definition cameras and transmission standards necessary to make high-definition TV work—that fail to arrive on time.

And while Michelin had deep experience in dealing with automakers and tire dealers, their relationship with new car dealers was much less established. Finally, and most critically, PAX required service garages to enter the picture in an entirely new way. For garages, repairing innovative tires had never required any major change to their activities, equipment, or capabilities. For this reason, they were never a factor in the success of new tire launches. But repairing a PAX tire was a different story: the garage needed completely new equipment to clamp and unclamp the tire to and from the wheel, new tools to calibrate the tire pressure monitoring system, and new training for its repair staff.

And the competition could not keep up. Not only were rival approaches to run-flat tires inferior to Michelin’s PAX System in terms of reliability, functionality, comfort, and safety, but the fortress of patents that Michelin had assembled around the system ensured that no competitor could enter the market with an imitative offer. Indeed, Michelin’s offer was so compelling that the company was able to co-opt its main rivals to support the PAX System as an industry standard. But in the end, despite brilliant execution, the PAX story is one of failure.

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Game Theory at Work: How to Use Game Theory to Outthink and Outmaneuver Your Competition by James Miller

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