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Competitive Strategy

In this six-module course, you will learn how businesses and organizations behave in situations in which strategic decisions are interdependent, i.e. where my actions affect my competitors' profits and vice versa. Using the basic tools of game theory, we will analyse how businesses choose strategies to attain competitive advantage.

This course is also available in Chinese. Please go to our course catalog to access the Chinese version of Competitive Strategy.

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What's inside

Syllabus

Take Care of Your Competitors

In this module, we introduce the basic concepts of game theory and use strategic games to learn competitor analysis. We answer “what is a strategy?” and look at the different ways to determine a best or dominant strategy. We also discuss the concepts of Nash Equilibrium and Prisoners’ Dilemma - and learn that it is important to anticipate and take into consideration the actions of the other players. Lastly, we analyse what happens when we change the game from simultaneous (where everybody acts at the same time) to sequential (where players move after each other).

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Examines competitive business strategy in the context of game theory

Teaches skills that are essential for business strategy and leadership

Taught by Tobias Kretschmer, who is recognized for their work in game theory

Requires knowledge of basic game theory concepts

Explores both theoretical and practical aspects of competitive strategy

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Reviews summary

Competitive strategy with game theory

According to learners, this course provides a solid introduction to the basic tools of game theory and applies them effectively to competitive strategy. Students find the modules well-structured, progressing logically from foundational concepts like Nash Equilibrium to more complex topics such as market entry and R&D strategy. While the application to business is appreciated, some learners note that the game theory concepts can be intellectually demanding, requiring focused effort. Overall, it's seen as a valuable course for understanding strategic interactions between firms.

Heavily theoretical, less emphasis on tools.

"The course is quite theoretical, focusing more on understanding the 'why' through game theory than providing step-by-step tools."

"Excellent for understanding the theoretical underpinnings of strategy, less so for immediate implementation guides."

"It provides a strong analytical framework based on theory."

Modules flow logically and build understanding.

"The course is very well-structured; each module builds nicely on the previous one."

"Following the syllabus felt natural, from basic concepts to specific strategic situations."

"The progression from simultaneous to sequential games was presented clearly."

Applies theory to relevant business scenarios.

"I found the link between game theory concepts and real-world business strategies incredibly useful."

"The examples on market entry and R&D effectively illustrated how theory can inform strategic decisions."

"Applying strategic games to competitor analysis made the theoretical concepts feel much more practical."

Introduces core game theory concepts well.

"The introduction to game theory was clear and helped me grasp the fundamentals needed for strategy analysis."

"Learning about Nash Equilibrium and Prisoner's Dilemma through business examples was very insightful."

"Provides a solid foundation in the basic concepts of game theory as applied to competition."

Concepts can be challenging and require focus.

"Some of the game theory concepts were quite demanding and required careful attention to fully understand."

"This course isn't easy, especially if you're new to game theory, but the challenge is rewarding."

"Be prepared to think deeply; the strategic analysis involves abstract thinking."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Competitive Strategy with these activities:

Explore Online Resources and Tools for Competitive Strategy

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Enhance understanding of competitive strategy concepts by exploring additional resources and tools.

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Search for online courses, articles, and videos related to competitive strategy.
Evaluate and select resources that provide valuable insights and perspectives.

Organize Course Materials and Resources

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Build a solid foundation by organizing materials and resources for easy access and review.

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Create a system for storing and organizing notes, handouts, and other materials.
Identify key resources and create a list of bookmarks or links.

Read Introduction to Game Theory

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Review key concepts in game theory to establish a solid understanding of the basic principles.

View Models in Microeconomic Theory: 'She' Edition on Amazon

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Read Chapters 1-3 of the book to understand the fundamental concepts of game theory, including rational behavior, Nash equilibrium, and dominant strategies.
Work through the practice problems provided at the end of each chapter to test understanding.

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Conduct Market Research and Analysis

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Gain hands-on experience in gathering and analyzing market data to inform strategic decision-making.

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Define the research objectives and identify target market.
Select and implement appropriate research methods, such as surveys, interviews, or focus groups.
Analyze data to identify customer needs, preferences, and trends.
Develop a market research report that summarizes findings and insights.

Analyze Competitor and Industry Data

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Develop the ability to gather and interpret data to make strategic decisions in competitive environments.

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Use online tools and resources to collect data on competitors, including market share, pricing, and marketing strategies.
Analyze industry trends and identify potential opportunities and threats.
Create visual representations of data to communicate findings and support decision-making.

Discuss Case Studies and Real-World Examples

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Gain different perspectives and insights from peers by engaging in discussions and sharing knowledge about competitive strategy.

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Meet with a group of peers to discuss a specific case study or real-world example related to competitive strategy.
Share individual perspectives and analysis of the case.
Engage in brainstorming and generate new ideas and solutions.

Develop a Competitive Strategy Framework

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Solidify understanding by creating a framework that outlines key elements and principles of competitive strategy.

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Review course materials and identify key concepts and frameworks for competitive strategy.
Create a visual or written representation of a strategic framework that incorporates these concepts.
Share the framework with others for feedback and critique.

Create a Competitive Analysis Report

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Demonstrate the ability to conduct thorough competitive analysis by creating a comprehensive report.

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Conduct in-depth research on a specific industry or market.
Analyze competitor strategies, market dynamics, and industry trends.
Develop actionable recommendations based on analysis.
Create a written report that clearly presents findings and insights.

Career center

Learners who complete Competitive Strategy will develop knowledge and skills that may be useful to these careers:

Consultant

Consultants analyze business problems and provide solutions for organizations. The skills you will learn in a Competitive Strategy course may help you to succeed in this role by teaching you how to assess market conditions, identify opportunities, and develop strategies to achieve business goals. You will also learn how to communicate your findings and recommendations in a clear and persuasive manner.

See salaries and explore the career path for Consultant

Business Analyst

Business analysts work with organizations to improve their performance. The skills you will learn in a Competitive Strategy course may help you to succeed in this role by teaching you how to analyze business problems, identify opportunities, and develop and implement solutions. You will also learn how to communicate your findings and recommendations in a clear and persuasive manner.

See salaries and explore the career path for Business Analyst

Product Manager

Product managers are responsible for the development and marketing of products. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to understand customer needs, develop competitive strategies, and manage product launches. You will also learn how to manage stakeholders and resources.

See salaries and explore the career path for Product Manager

Marketing Manager

Marketing managers are responsible for developing and implementing marketing campaigns. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to understand customer behavior, develop competitive strategies, and manage marketing budgets. You will also learn how to communicate your findings and recommendations in a clear and persuasive manner.

See salaries and explore the career path for Marketing Manager

Sales Manager

Sales managers are responsible for leading and motivating sales teams. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to develop sales strategies, manage sales pipelines, and negotiate with customers. You will also learn how to communicate your findings and recommendations in a clear and persuasive manner.

See salaries and explore the career path for Sales Manager

Operations Manager

Operations managers are responsible for overseeing the day-to-day operations of an organization. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze business processes, identify opportunities for improvement, and implement new systems and procedures. You will also learn how to manage resources and coordinate with other departments.

See salaries and explore the career path for Operations Manager

Financial Analyst

Financial analysts provide investment advice to individuals and organizations. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze financial data, identify investment opportunities, and make recommendations to clients. You will also learn how to communicate your findings and recommendations in a clear and persuasive manner.

See salaries and explore the career path for Financial Analyst

Investment Banker

Investment bankers advise companies on mergers and acquisitions, capital raising, and other financial transactions. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze financial data, understand market conditions, and develop and execute financial strategies.

See salaries and explore the career path for Investment Banker

Private Equity Investor

Private equity investors invest in private companies with the goal of generating a return on investment. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze financial data, identify investment opportunities, and negotiate with company management teams. You will also learn how to manage risk and develop investment strategies.

See salaries and explore the career path for Private Equity Investor

Venture Capitalist

Venture capitalists invest in early-stage companies with the goal of generating a return on investment. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze financial data, identify investment opportunities, and negotiate with company management teams. You will also learn how to manage risk and develop investment strategies.

See salaries and explore the career path for Venture Capitalist

Hedge Fund Manager

Hedge fund managers invest in a variety of assets with the goal of generating a return on investment. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze financial data, identify investment opportunities, and manage risk. You will also learn how to develop and execute investment strategies.

See salaries and explore the career path for Hedge Fund Manager

Portfolio Manager

Portfolio managers invest in a variety of assets on behalf of clients. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze financial data, identify investment opportunities, and manage risk. You will also learn how to develop and execute investment strategies.

See salaries and explore the career path for Portfolio Manager

Research Analyst

Research analysts provide investment advice to individuals and organizations. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze financial data, identify investment opportunities, and make recommendations to clients. You will also learn how to communicate your findings and recommendations in a clear and persuasive manner.

See salaries and explore the career path for Research Analyst

Strategy Consultant

Strategy consultants help organizations develop and implement strategies to achieve their goals. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze business problems, identify opportunities, and develop and implement strategies. You will also learn how to communicate your findings and recommendations in a clear and persuasive manner.

See salaries and explore the career path for Strategy Consultant

Corporate Development Manager

Corporate development managers oversee the strategic planning and execution of mergers and acquisitions, joint ventures, and other corporate transactions. The skills you will learn in a Competitive Strategy course may help you succeed in this role by teaching you how to analyze financial data, understand market conditions, and develop and execute financial strategies.

See salaries and explore the career path for Corporate Development Manager

Reading list

We've selected 42 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Competitive Strategy.

Game Theory

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This comprehensive textbook provides foundational concepts and applications of cooperative and non-cooperative game theory. Its mathematical rigor and coverage of advanced topics enhance the understanding of strategic decision-making in competitive environments.

Competitive Strategy

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What's inside

Syllabus

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Reviews summary

Competitive strategy with game theory

Activities

Career center

Reading list

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