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Assignment Question
Critically assess how the T/3 Framework helps executives to
Assignment Question
Critically assess how the T/3 Framework helps executives to understand the execution of strategic choices in the attempt to establish and maintain a competitive advantage. In so doing, you are asked to apply your knowledge of both Transaction Cost Economics and Game Theory analysis in the execution of strategy within the market-as-a-game.
Assignment Objective
Your essay should critically assess the value-added of using the T/3 framework in contributing to an understanding of how players execute various strategies to establish and maintain a competitive advantage with particular emphasis on the strategic interdependencies among rival players. The exchanges on Blackboard with Practicals I – IV; the Online Lectures and Virtual Office Hours have offered you the opportunity to gather your thoughts on the topics.
You should also use some case studies and your Workshop case research. A key objective is to outline the overlap between micro-economics and game theoretic concepts introduced in this Module. Using academic literature and coupled with the practical case research undertaken by your group during the Workshop or coupled with the research you may have undertaken in support of your individual Workshop Alternate Assignment, illustrate how the transaction cost economics and the economics of game theory can be used to reshape strategy. So, please do use real case study materials where appropriate.
Hint: The best way to approach the assignment is to imagine that the essay is to be read by senior management. Their concerns may have to do with (i) market entry (ii) product launch (iii) challenges of technology or (iv) prices. So, proceed to analyse the market-as-a-game, identify and filter the competitive threat, assess the action-reaction sequence of events and evaluate your results. And always provide a risk assessment of the likely competitive threats facing a company on choice of strategy.
I am attaching a netflix presentation, showing the game theory and the studying for the strategies against the competitors.
I suggest to add in the essay studies related to slide 16 and 17 (appendix)
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