Wars may be lost, companies may go bankrupt and marriages may end
in divorce. Such failures may be due to mistakes in
decision-making. Strategic decision-making is of great and growing
importance and decision-making in general is indeed the central
issue in management and operations. It determines external as well
as internal action and reaction. Managers have to make decisions
and act so as to avoid bankruptcy but instead ensure the companys
livelihood and enhance the companys value. These represent two of
the major managerial goals. Shareholders eventually demand constant
improvement in performance. It is, however, an art to appropriately
assess situations of decision-making. Companies and their
environment are typically dynamic and strategy cannot be viewed
isolated as its success will depend on the decisions of others
also. Game Theory as a theory of interaction provides appealing
formal concepts and tools for examining such interdependent
strategic behavior in business and economic settings. Although in
literature hints can be found that Game Theory is already being
applied by managers, the potential of Game Theory has not yet been
exploited.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
