Essay Question:
Explore how a company executes various price and non-price strategies in an attempt to establish and maintain a competitive advantage in the market-as-a-game. In so doing, illustrate the inter-dependencies via an action-reaction sequence of events. Support your answer with applications to real companies.
Assignment Objective:
Your essay should critically assess the value-added of transaction cost economics and game theory tools. 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.
Remember: You are an MBA consultant. Here is an opportunity to reflect on both the research undertaken by you at the Workshops and on the learning obtained in the preparation of your assignments for this Module. In any consultancy, you must try to impress upon the team. One way to do that is to convince them of the value-added of applying economic concepts and economic reasoning from game theory and transactions cost economics to an evaluation of their company strategy. This essay also supports the learnings in your various Practicals undertaken throughout the module.
Notes:
1.
Essay
Question refer to attachment “Essay Question”
2.
In
my Workshop case research, our group studied the hotel industry and analysed
IHG Hotel group. Please refer to the Workshop Presentation attachment.
3.
Please
use IHG/Hospital Industry to write the essay and use the presentation research
information if applicable.
4. Must cite the two course core books in the essay, refer to attachment “Course Reading
List”. And expect to use more strong references, those HBR list are recommended for the workshop, but not must if not beneficial to the essay.
5.
Please
refer to the course lecture slide (attachment OLx_PP”) to see the literature
and theory learned.
6.
Don’t
use Turnitin for plagiarism check, because it may become 100% plagiarism when I
submit later via the school’s Turnitin submission, unless you have a trick not
to affect my submission.
Don’t use Grammarly for plagiarism and use other service provider.
7.
The
essay should be 100% human write, not allow to detect any AI involvement.