ETV Global's Strategic Development and GameTheory

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Strategic Business Development Process
 
With only a few hours  a week, using a team approach and a proprietary business simulation modeling tool, ETV guides companies in the development of effective strategies, organizational structures, marketings and procedures to improve overall performance resulting in sustainable sales and profitable growth.

In today’s competitive economy, with new business principles and driving factors of social media and online marketing, traditional business practices are no longer effective. Corporations need transformational strategies and visionary leaders with a wide range of industry, business, technology, social networking, organizational, marketing, human behavior and multi cultural experience. They must have the ability to quickly assess, develop and implement financial models, effective business and marketing strategies in a timely and cost effective fashion, to adapt to fast changing competitive environments, to operate ethically and effectively, and to deliver transformational visions across all channels of communications.

For that, we utilize applications of Game Theory to offer our clients a comprehensive strategic development program to address a wide range of skills and opportunities that transcend beyond the traditional assignment of a consultant with one specialized field.

ETV guides the development, implementation, and execution of these strategies in a wide range of industries. Using ETV's "Three Steps Process," ETV actively leads, guides and "shadows" CEOs, management teams in the implementation and execution of these strategies with a full range of tools, professional expertise and business support services.
 

What is a Strategy and what is a Strategist?

Every business and their leaders need to have a set of differentiating operational, financial and organizational actions with the objective to be prepared to gain market position of advantage, to better respond to emerging opportunities and sustain growth: A strategy.

A strategy is all about being prepared to gain market position or advantage over adversaries or exploiting emerging possibilities. Since there is always an element of uncertainty about the future, strategy is more about a set of options rather than a fixed plan. These set of options have to include operational, financial and organizational actions with the ability to simulate growth scenarios and prepare the organization to handle these growth scenarios to better succeed in the market.

A strategist combines innovation, perception and holistic insights of a designer with the pragmatic and systematic skills of a planner to anticipate and guide strategic direction and impact the overall organizational chances for success and growth. All in the context of business needs, financial strength, brand intent, design quality and customer values. A strategist will create an environment of financial strength and projections with sustainable commercial advantage by applying innovative tools, quantitative, qualitative ideas and systems.

Game theory by definition is a normative approach for determining what strategies should be followed by a person who has to consider what others are likely to do; the outcomes depend not only on what you are doing, but also on what others are doing in response (Sources: Hoch & Kunreuther, 2001, p. 10).

Tactics A tactic is a conceptual action implemented as one or more specific tasks. The term is common in business and military usage, as well as in chess, sports and protest.The terms tactic and strategy are often confused: tactics are the actual means used to gain an objective, while strategy is the overall campaign plan, which may involve complex operational patterns, activity, and decision-making that lead to tactical execution. (Source: Wikipedia)

A plan is typically any diagram or list of steps with timing and resources, used to achieve an objective. It is commonly understood as a temporal set of intended actions through which one expects to achieve a goal.

Plans can be formal or informal:

  • Structured and formal plans, used by multiple people, are more likely to occur in projects, diplomacy, careers, economic development, military campaigns or in the conduct of other business. In most cases, the absence of a well-laid plan can have adverse effects: for example, a non-robust project plan can cost the organization time and money.
  • Informal plans are created by individuals in all of their pursuits.

The most popular ways to describe plans are by their breadth, time frame, and specificity. For instance, there is a close relationship between the short- and long-term categories and the strategic and operational categories.It is common for less formal plans to be created as abstract ideas, and remain in that form as they are maintained and put to use. More formal plans as used for business and military purposes, while initially created with and as an abstract thought, are likely to be written down, drawn up or otherwise stored in a form that is accessible to multiple people across time and space. This allows more reliable collaboration in the execution of the plan.

(Source: Wikipedia)

 

Game Theory

(Source: Dr. A. Levy doctoral dissertation, 2010).

Game theory and game simulations may be applied in a wide range of business applications. These include but not limited to the used in the social sciences, economics, technology, biology, political science, media and entertainment, real estate, and philosophy. In the analysis of CEOs and leaders of organizations, there are numerous socio-environmental factors to consider, such as employees, customers, vendors, business partners, management, shareholders, global market conditions, public and private markets, the economics of the organization, products and services, pricing and margins, competition, the public media, and the investment community.

Game theory by definition is a normative approach for determining what strategies should be followed by a person who has to consider what others are likely to do; the outcomes depend not only on what you are doing, but also on what others are doing in response (Hoch & Kunreuther, 2001, p. 10).

The American Management Association introduced the concept of game simulation to its top management team as early as 1956. According to Bass and Stogdill (1990):

“Over 30,000 executives participated in one or more of the hundreds or so business games that appeared in the first five years following the introduction by the American Management Association of its Top Management Decision Simulation (Bass & Stogdill, 1990, p. 823).

In a more descriptive way, game theory acts as a management tool, to develop scenarios by which the success of one individual or group in making decisions depends on the decisions others make as a response. The applications of game theory treat a wide class of interactions.

For example in one of such games managers, who are participants in the game as players, must get cooperation of other players (co-workers) to produce products, possibly made by cutting, assembling and stapling individual parts paper, to make a final product that fits a puzzle. In this type of game it becomes obvious how the group interact and able to communicate ideas accurately and effectively. 

There are many types of games that are used based on this theory and it is effective in improving corporate performance. It could assist CEOs and business leaders in simulating scenarios to better prepare them for situations that will either tempt them or divert them away from executing established long-term strategies by choosing decisions in order to reach short-term objectives.

(Source: Dr. A. Levy doctoral dissertation, 2010).