After you are done with the chapter, answer the follow questions. Post your answers here. Please answer the questions directly in your post and do not upload files.
1. Read the popular business press (e.g., Business Week, Fortune, Fast Company), and identify a strategic action and a tactical action taken by firms approximately two years ago. Next, use the Internet to search the popular business press to see if, and how, competitors responded to those actions. You should be able to explain the actions and the responses, linking their findings to the discussion in this chapter.
2. What advantages do first movers have? Disadvantages?
3. Identify a firm in a fast-cycle market. What strategic actions account for its success or failure over the last several years? How has the Internet affected the firm?
Read the article “The Right Game: Use Game Theory to Shape Strategy” (click the link) by Brandenburger & Nalebuff.
After you have read the article, briefly answer the following questions:
1. What is game theory?
2. How can game theory be applied in strategic management?
3. Are there any limitations with game theory?