Strategy is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. In the sense of the "art of the general", which included several subsets of skills including military tactics, siegecraft, logistics etc., the term came into use in the 6th century C.E. in Eastern Roman terminology, and was translated into Western vernacular languages only in the 18th century. From then until the 20th century, the word "strategy" came to denote "a comprehensive way to try to pursue political ends, including the threat or actual use of force, in a dialectic of wills" in a military conflict, in which both adversaries interact.
Steven J. Brams is an American game theorist and political scientist at the New York University Department of Politics. Brams is best known for using the techniques of game theory, public choice theory, and social choice theory to analyze voting systems and fair division. He is one of the independent discoverers of approval voting, as well as extensions of approval voting to multiple-winner elections to give proportional representation of different interests.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.
Porter's Five Forces Framework is a method of analysing the operating environment of a competition of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness of an industry in terms of its profitability. An "unattractive" industry is one in which the effect of these five forces reduces overall profitability. The most unattractive industry would be one approaching "pure competition", in which available profits for all firms are driven to normal profit levels. The five-forces perspective is associated with its originator, Michael E. Porter of Harvard University. This framework was first published in Harvard Business Review in 1979.
The game of chicken, also known as the hawk-dove game or snowdrift game, is a model of conflict for two players in game theory. The principle of the game is that while the ideal outcome is for one player to yield, individuals try to avoid it out of pride, not wanting to look like "chickens." Each player taunts the other to increase the risk of shame in yielding. However, when one player yields, the conflict is avoided, and the game essentially ends.
A strategist is a person with responsibility for the formulation and implementation of a strategy. Strategy generally involves setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources). The senior leadership of an organization is generally tasked with determining strategy. Strategy can be intended or can emerge as a pattern of activity as the organization adapts to its environment or competes. It involves activities such as strategic planning and strategic thinking.
A coordination game is a type of simultaneous game found in game theory. It describes the situation where a player will earn a higher payoff when they select the same course of action as another player. The game is not one of pure conflict, which results in multiple pure strategy Nash equilibria in which players choose matching strategies. Figure 1 shows a 2-player example.
Coopetition or co-opetition is a neologism coined to describe cooperative competition. Coopetition is a portmanteau of cooperation and competition. Basic principles of co-opetitive structures have been described in game theory, a scientific field that received more attention with the book Theory of Games and Economic Behavior in 1944 and the works of John Forbes Nash on non-cooperative games. Coopetition occurs both at inter-organizational or intra-organizational levels.
Futures studies, futures research, futurism research, futurism, or futurology is the systematic, interdisciplinary and holistic study of social/technological advancement, and other environmental trends; often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but contemporary futures studies scholars emphasize the importance of systematically exploring alternatives. In general, it can be considered as a branch of the social sciences and an extension to the field of history. Futures studies seeks to understand what is likely to continue and what could plausibly change. Part of the discipline thus seeks a systematic and pattern-based understanding of past and present, and to explore the possibility of future events and trends.
Avinash Kamalakar Dixit is an Indian-American economist. He is the John J. F. Sherrerd '52 University Professor of Economics Emeritus at Princeton University, and has been Distinguished Adjunct Professor of Economics at Lingnan University, senior research fellow at Nuffield College, Oxford and Sanjaya Lall Senior Visiting Research Fellow at Green Templeton College, Oxford.
Barry J. Nalebuff is an American businessman, business theorist, and writer. He is a Milton Steinbach Professor of Management at Yale School of Management and author who specializes in business strategy and game theory. His published books include Thinking Strategically and The Art of Strategy. Nalebuff's class on negotiation has over 67,000 active learners through Coursera and has the second-highest net promoter score on the platform. He has a semi-regular column in Forbes with Ian Ayres called "Why Not?"
Blue Ocean Strategy is a book published in 2005 written by W. Chan Kim and Renée Mauborgne, professors at INSEAD, and the name of the marketing theory detailed on the book.
Auction theory is a branch of applied economics that deals with how bidders act in auctions and researches how the features of auctions incentivise predictable outcomes. Auction theory is a tool used to inform the design of real-world auctions. Sellers use auction theory to raise higher revenues while allowing buyers to procure at a lower cost. The confluence of the price between the buyer and seller is an economic equilibrium. Auction theorists design rules for auctions to address issues that can lead to market failure. The design of these rulesets encourages optimal bidding strategies in a variety of informational settings. The 2020 Nobel Prize for Economics was awarded to Paul R. Milgrom and Robert B. Wilson "for improvements to auction theory and inventions of new auction formats."
The 1984 Orange Bowl was the 50th edition of the college football bowl game, played at the Orange Bowl in Miami, Florida, on Monday, January 2. Part of the 1983–84 bowl game season, it matched the undefeated and top-ranked Nebraska Cornhuskers of the Big Eight Conference and the No. 5 independent Miami Hurricanes. The game is famous for a coaching call by Nebraska's Tom Osborne after a touchdown late in the fourth quarter, where instead of playing for a tie with an extra point kick the Cornhuskers went for a two-point conversion to try to take the lead.
Black and White is a 1990 postmodern children's picture book by David Macaulay. Published by Houghton Mifflin Company, it received mixed reviews upon its release, but it was the recipient of the Caldecott Medal for illustration in 1991. The book tells four overlapping stories, each drawn with a distinct visual style. The four stories are "Seeing Things", about a boy on a train trip by himself, "Problem Parents", about siblings whose parents behave differently one night, "A Waiting Game", about people waiting for a train, and "Udder Chaos", about cows who escape and then return to their field.
The following outline is provided as an overview of and topical guide to marketing:
A strategic move in game theory is an action taken by a player outside the defined actions of the game in order to gain a strategic advantage and increase one's payoff. Strategic moves can either be unconditional moves or response rules. The key characteristics of a strategic move are that it involves a commitment from the player, meaning the player can only restrict their own choices and that the commitment has to be credible, meaning that once employed it must be in the interest of the player to follow through with the move. Credible moves should also be observable to the other players.
Douglas Gordon Baird is an American legal scholar, the Harry A. Bigelow Distinguished Service Professor and a former dean of the University of Chicago Law School. He joined the faculty in 1980 and served as the dean from 1994 to 1999. He is a specialist in the field of bankruptcy law.
The Passion of Michel Foucault is a biography of the French philosopher Michel Foucault authored by the American philosopher James Miller. It was first published in the United States by Simon & Schuster in 1993.
Co-opetition: A Revolution Mindset that Combines Competition and Cooperation is a non-fiction book on coopetition, business strategy, and game theory by Adam M. Brandenburger and Barry J. Nalebuff. The book was initially published by Crown Business on May 1, 1996. As of 2015, the book is still available in its 9th printing.
