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  • June 2012 (Revised December 2017)
  • Technical Note

Strategy and Strategic Decisions

By: Eric Van den Steen
This note introduces a framework for formulating strategy that helps a manager identify which decisions are strategic—and thus which decisions to focus on (both when developing strategy and when executing it)—and that provides a practical test for whether a particular... View Details
Keywords: Formulating Strategy; Strategic Theory; Strategy Test; Strategic Analysis; Strategy; Theory; Strategic Planning
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  • June 1996 (Revised November 1996)
  • Background Note

Economic Gains from Trade, The: Theories of Strategic Trade

The theory of competitive advantage is one of the most widely accepted economic principles among economists. The theory, as well as substantial historical evidence, suggest that free trade raises national income, while government intervention in trade relations... View Details
Keywords: Competitive Advantage; Trade
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  • November 2006
  • Background Note

Technical Game Theory Note #4: Contracting and Strategic Alliances

By: Dennis A. Yao
Provides a game theory-based interpretation of contracting and strategic alliances and introduces the problem of moral hazard. View Details
Keywords: Contracts; Alliances; Game Theory
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  • June 2013 (Revised March 2014)
  • Technical Note

Strategic Complements and Substitutes

By: Eric Van den Steen
The framework of strategic complements and substitutes can help companies anticipate competitors' responses. It is particularly helpful in deciding on price- or capacity-commitments (or pre-emption), but it can provide more general guidance for analyzing the potential... View Details
Keywords: Competition; Strategic Substitutes; Strategic Complements; Puppy Dog Strategy; Competitive Strategy; Game Theory; Strategy; Economics
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  • January 2021 (Revised March 2021)
  • Technical Note

Strategy and Strategic Thinking

By: Eric Van den Steen
This note gives managers a concrete perspective on what ‘a strategy’ really is, what makes a decision ‘strategic,’ and what ‘strategic thinking’ means. It also gives them practical frameworks to assess whether some set of decisions is really a strategy and how to... View Details
Keywords: Strategic Alignment; Strategy Definition; Strategy And Execution; Strategy Test; Strategy; Strategic Planning; Decision Making
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  • October 2017
  • Article

Toward a Prescriptive Theory of Dynamic Capabilities: Connecting Strategic Choice, Learning, and Competition

By: Gary P. Pisano
The field of strategy has mounted an enormous effort to understand, define, predict, and measure how organizational capabilities shape competitive advantage. While the notion that capabilities influence strategy dates back to the work of Andrews (1971, The Concept... View Details
Keywords: Business Admnistration; Market Structure; Firm Structure; Market Efficiency; Competency and Skills; Organizational Structure; Strategy
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  • July 1989 (Revised August 1990)
  • Background Note

New Theories of International Trade

By: David B. Yoffie and Heather A. Hazard
Explores the "new" theories of international trade--also called strategic trade policy--which were developed in the 1980s. Examines why economists and policy makers thought new approaches were necessary to explain international trade, the contributions of industrial... View Details
Keywords: Corporate Strategy; Theory; Policy; Trade
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  • 2016
  • Working Paper

Towards a Prescriptive Theory of Dynamic Capabilities: Connecting Strategic Choice, Learning, and Competition

By: Gary P. Pisano
The field of strategy has mounted an enormous effort to understand, define, predict, and measure how organizational capabilities shape competitive advantage. While the notion that capabilities influence strategy dates back to the work of Andrews (1971), attempts to... View Details
Keywords: Competitive Advantage
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  • 19 Jul 2016
  • Working Paper Summaries

Towards a Prescriptive Theory of Dynamic Capabilities: Connecting Strategic Choice, Learning, and Competition

Keywords: by Gary P. Pisano
  • March 2022
  • Article

Developing Strategic Human Resource Theory and Making a Difference: An Action Science Perspective

By: Michael Beer
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  • 1995
  • Chapter

An Exploration of Common Ground: Integrating Evolutionary and Strategic Theories of the Firm

By: C. A. Montgomery, N. Juul Foss and C. Knudsen
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  • July 9, 2019
  • Article

Common Knowledge, Coordination, and Strategic Mentalizing in Human Social Life

By: Julian De Freitas, Kyle A. Thomas, Peter DiScioli and Steven Pinker
People often coordinate for mutual gain, such as keeping to opposite sides of a stairway, dubbing an object or place with a name, or assembling en masse to protest a regime. Because successful coordination requires complementary choices, these opportunities raise the... View Details
Keywords: Coordination; Common Knowledge; Theory Of Mind; Bystander Effect; Knowledge; Cooperation
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  • 2015
  • Conference Presentation

The Strategic Bystander: Recursive Theory of Mind and Common Knowledge in Decisions to Help

By: J. De Freitas, K. A. Thomas, P. DeScioli and S. Pinker
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  • 01 Oct 1997
  • News

Theory & Practice

Whether or not game theory has applications for business strategy remains unclear - to date, empirical studies have been too limited to yield any definitive conclusions. In Games Businesses Play: Cases and Modules, HBS professor Pankaj... View Details
  • Research Summary

Game Theory for Business Strategy

Game theory--the mathematical study of strategic interactions--came of age, in a sense, when three of the field's pioneers were awarded the Nobel Prize in Economics in 1994. Yet despite the development of the theory and the widespread use of game-theoretic jargon in... View Details
  • 2013
  • Working Paper

Financial vs. Strategic Buyers

By: Marc Martos-Vila, Matthew Rhodes-Kropf and Jarrad Harford
This paper introduces the impact of debt misvaluation on merger and acquisition activity. Debt misvaluation helps explain the shifting dominance of financial acquirers (private equity firms) relative to strategic acquirers (operating companies). The effects of... View Details
Keywords: Misvaluation; Mergers and Acquisitions; Private Equity
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  • 03 Mar 2017
  • Working Paper Summaries

Cooperative Strategic Games

Keywords: by Elon Kohlberg and Abraham Neyman; Education
  • 2017
  • Working Paper

Cooperative Strategic Games

By: Elon Kohlberg and Abraham Neyman
We examine a solution concept, called the “value," for n-person strategic games. In applications, the value provides an a-priori assessment of the monetary worth of a player's position in a strategic game, comprising not only the player's contribution to the total... View Details
Keywords: Game Theory
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  • August 2017
  • Article

A Formal Theory of Strategy

By: Eric J. Van den Steen
What makes a decision strategic? When is strategy most important? This paper formally studies these questions, starting from a (functional) definition of strategy as “the smallest set of choices to optimally guide (or force) other choices.” The paper shows that this... View Details
Keywords: Strategy Development; Strategy; Decisions
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  • 08 Jun 2012
  • Working Paper Summaries

Location Choices Under Strategic Interactions

Keywords: by Juan Alcacer