Game Theory in Practice: How to Compete and Cooperate More Effectively
Date: June 24-26, 2021
Note: Due to the epidemic, the actual starting time for the courses shall be subject to the notice from the class coordinator.
The programme is specially designed for corporate decision-makers and senior executives, including board chairs, CEOs, presidents, general managers, heads of business units, vice presidents of business development, vice presidents of strategy, managing directors, and others in similar leading roles.
Business is like war without the bullets. Is inter-company competition just a win-lose game? Does a company have to base its success on its competitor’s failure? No! Both competition and cooperation are the inseparable part of business operation. Companies need to develop their strategies based on how to compete and cooperate at the same time. Any strategy that aims to achieve benefit at the expense of others will trigger strong countermeasures, which often make your original efforts end in vain. The final net result will be nobody gains nothing (or the Prisoners’ Dilemma). The co-opetition strategy, derived from the game theory, is a revolutionary strategic thinking about how to create and capture value. In a changing economic world, the adoption of such a strategy will help us change the game of business and secure a favorable position in the game. The joint success that Coca-Cola and Pepsi have achieved is largely the result of their trading off between competition and cooperation. It’s hard to believe that the two century-old rivals have had fewer price wars in a mature market than Chinese TV manufacturers have had in the last ten or so years in a fast-growing market.
The next few years will still see a growing Chinese economy, and most of sectors in China will continue to be fast-growing markets. It’s of greater significance for companies to cooperate and compete in an effective and sustainable way than it is to just scramble for market share.
- Introduction to gaming theoretical models
- Gaming and corporate strategy
- Dynamics of market competition
- Five key factors of gaming
- How to create high profit margins
- Lock-on effect and switching cost
- Complementary goods strategy
- Gaming: Retailers and manufacturers
- Game rules
- Gaming strategy: The principle of “using leverage to maximise returns” and overseas marketing strategy of Chinese enterprises
- Conclusion: Gaming scope and gaming theory in business practice
A certificate of completion will be awarded
Programme Fee includes tuition, case licensing fees, lunches, stationery, other course materials, interpretation and translation fees if required. The full fee must be paid within two weeks upon receipt of the payment notice. Applications made within 30 days of the start of a programme require immediate payment. CEIBS reserves the right to amend information on this programme including price, discount, date, location, faculty, daily schedule and other details.
Professor of Marketing
Department Chair (Marketing), CEIBS
Director of CEIBS Healthcare Sector Research Centre
Game theory is one of the best tools to analyse and develop intercompany cooperation and competition strategies. It emerged in the World War II period and has been widely used in business studies in the last decade thanks to its effectiveness. This 3-day programme consisting of eight topics will, with the aid of practical cases about domestic and foreign companies, explore how companies can make use of game theory’s theoretical framework to thoroughly analyse the environment of competition and any possible changes. It will provide participants with a new perspective when developing corporate strategies, and will also include time dedicated to the actual strategic issues faced in participants’ organisations and the application of course content in the real world.
Participants who successfully complete the programme will be able to:
- Think out of the box, rethink the organisation’s strategic position and strategy formulation
- Learn lessons and experiences from domestic and foreign companies in respect of Game Theory application
- Apply the five factors of the game to opportunity identifying, competition or cooperation strategy formulating, and market expanding
- Understand and use the nine principles for small companies in gaming against big ones
- Gain new strategic insight into the overseas market expansion
- Know how companies can cooperate with the outside world and participate in rule making, so as to promote the industry development in a right direction and take a favorable position in gaming
- Introduction to the model of game theory
- Importance of information – how to transfer information effectively
- "Survival of the fittest” vs. “bad money drives out good”
- Game theory and corporate strategy – strategic marketing for the Olympics
- Dynamics of market competition
- Pursuing benefit and avoiding risk
- Blind game – can you move someone else’s cheese?
- How to play the game: Five factors of the game
- How to create high profits – implications of Nintendo’s success
- Competition is marketable
- The lock-in effect and switching cost
- How should e-business set the switching cost?
- Who are the players? How can they be changed?
- What is a complementor?
- Strategy of complements
- The game between dealers and the game between factories
- Learning from neighbors
- Rules of the game
- Laws and contract terms
- Case analysis
- Game tactics
- The nine principles for small companies in gaming against big ones
- Case analysis
- What are the advantages of Chinese companies in overseas marketing? Just low cost?
- How should Tsingtao Beer expand into the US market?
- Game category
- One of the key leadership competencies – big-picture thinking
- Case analysis
- Wrap-up of game theory in business practice
We reserve the right to adjust the course information (including price, date, location, faculty, course arrangement and other details)
Vice Manager, Customer Service Centre
China Telecom Corporation Limited
Dumex Baby Food Co Ltd
Deputy General Manager
Fund Centre MIDEA Group
Applications are requested at least 30 days before the programme start date. Applications are reviewed as they arrive and admissions are subject to the final confirmation of CEIBS. Any applications received after that date will be considered on the basis of space availability. For more information, please contact our Customer Service Team in Shanghai, Beijing or Shenzhen.
Any cancellation made 30 days or more prior to the programme start date is eligible for a full refund of programme fees paid. However, the expenses arising therefrom shall be for the account of the applicant or his/her employer. Any cancellation made less than 30 days prior to the programme start date shall be subject to a fee of 20 percent of the total programme fee. After the programme starts, no fees shall be refunded for participants who withdraw from the programme for any reason.
To ensure the continuity of your learning, you are required to make proper arrangements according to the course schedule after receiving your letter of enrollment. We will neither make up lessons for you nor confer you with the certificate of completion if you are absent from the course for personal reasons. CEIBS reserves the right to amend information on this programme including price, discount, date, location, faculty, daily schedule and other details.