Tag Archives | business strategy

Game Theory

Game Theory is a study of strategic decision making. More formally, it is “the study of mathematical models of conflict and cooperation between intelligent rational decision-makers.” An alternative term suggested “as a more descriptive name for the discipline” is interactive decision theory. Game theory is mainly used in economics, political science, and psychology, as well [...]

Continue Reading Comments { 0 }

Competitive Advantage Framework

Competitive Advantage is a business theory proposed by Michael Porter in 1985. This theory suggests that states and businesses should pursue policies that create high-quality goods to sell at high prices in the market. Porter emphasizes productivity growth as the focus of national strategies. Competitive Advantage rests on the notion that cheap labor is ubiquitous [...]

Continue Reading Comments { 0 }
© 2017, Marketing Mix Hub