...580 $670 $140 $(530) a. Complete the table. b. What level of output maximizes profit or minimizes loss? c. Should this firm operate or shut down in the short run? Why? 3. Suppose that Wal-World and Tarbo are independently deciding whether to implement a new bar code technology. It is less costly for their suppliers to use one system and the following payoff matrix shows the profits per year for each company resulting from the interaction of their strategies. [pic] a. Briefly explain whether Wal-World has a dominant strategy. b. Briefly explain whether Tarbo has a dominant strategy. c. Briefly explain whether there is a Nash equilibrium in this game. Directions for Submitting your Assignment Complete your assignment in this Microsoft Word® document and save it as Username-MT445Assignment-Unit#.doc (Example:TAllen-MT445Assignment-Unit5.doc). Submit your file by selecting the Unit 5: Assignment Dropbox by the end of Unit...
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...1938) By: Ling Zhou This book is one of the first to provide a comprehensive theory of cooperative behavior in formal organizations. Before its publication, most of the work on management and organization was fragmentary: to administer is to plan, organize, integrate and measure etc. But some more basic questions like why we need organizations, what are essential for organizations, are left untouched. Barnard realizes that without first answering these questions and finding the nature of organizations, we are lack of a solid base on which to discuss the more specific questions. One of the greatest contributions of Barnard is to point out the cooperation nature of organizations. Barnard was the first to insist that organizations by their very nature are cooperative systems and cannot fail to be so. Cooperation is the essence of organizations. An organization can survive only because of cooperation. Actually, he emphasized cooperation almost to the exclusion of such things as conflict, imperative coordination and financial inducements. This extreme position is, of course, not so favorable in today’s view and I will discuss these defects later. We should give Barnard the credit, however, for seeing that an organization is a cooperative system, interpreted with the language of contract theory, this is saying that in order for an organization to exist, there should be a set of contracts that every member agrees. The problem...
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...Game Theory in Business Decision | | | Content 1. Introduction -------------------------------------------------------------------- P.2 2. Main Models of Game Theory ---------------------------------------------- p.3-4 3. Nash Equilibrium ------------------------------------------------------------- p.5 4. Dominant Strategy ----------------------------------------------------------- p.5 5. Prisoners’ Dilemma ---------------------------------------------------------- p.5-6 6. Daily Example of Competition of Supermarkets ------------------------ p.7-8 7. Daily Example of Competition of Mobile Market ---------------------- p.9-10 8. Daily Example of Penalty Kick in Football Match --------------------- p.11-12 9. Conclusion ------------------------------------------------------------------- p.13 10. Reference -------------------------------------------------------------------- p.14-15 Introduction Game theory is the study of how people behave in strategic situations. Game theory concerns situations in which multiple players make strategically interdependent decisions. The term interdependent means that one person’s behavior affects another person’s well-being. We can make use of game theory on different aspects such as economics, political science and even our daily life. For example, whether TV stations leads to enlarge the market shares on program production usually depends on the subsequent moves...
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...Teamwork and Collaboration Learning Team D - Katherine Simpson Cynthia Lukas, Jennifer Ferreyra, Sabina Mieliczek, Shanita Polite, Tyleen Wilson MGT/311 January 19, 2013 Rocco Natale Teamwork and Collaboration There are many different ways of resolving conflict within a group. Each strategy, when implemented correctly, can be very effective. Some of these strategies are: accommodation, avoidance, collaboration, competition, compromise. At one point, everyone has been in some type of a group. It could be in elementary school when your gym teacher picks teams for a game, at work when your supervisor asks everyone to come up with fresh, new ideas for the company and as fellow college students who are put together in a learning team. All of these examples can put the members of the group in an awkward situation and at times it can be intimidating. Learning Teams are an opportunity for all of us to work together in groups to come up with a final product. Although it is fun and interesting to meet and work with new people, it is not always an easy task. People in learning teams come from all over the country. They come from different backgrounds and cultures. The differences can sometimes cause conflict while working on an assignment together. In order to stay respectful and stay on task with finishing the assignment, conflicting group members must have a strategy to cope with conflicts and come up with a solution. Each team member has a different approach on getting...
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...Game Theory Application on Pricing Strategies Used by the Retail Supermarket Industry Everyday low pricing (EDLP) and High-Low Pricing are the most popular pricing strategies used by companies in the retail supermarket industry. In this part of the project, the two pricing strategies are analyzed using a game-theoretic framework and compared to the observed behavior of supermarket within the industry. First, the definitions of both strategies are provided to better understand the analysis. Everyday low pricing (EDLP) is a pricing strategy that provides consumers with low prices without the need of using of coupons or waiting for sales price events. This strategy was started by Wal-Mart and Procter & Gamble and it is believed that EDLP saves retailers the time and expense of applying short-term promotional pricing, as well as, the cost of distributing and processing of coupons. Companies who often adopted this strategy also believed that it creates shopper loyalty. (Barron's Educational Series, Inc., 2000) The basic premises that suppliers are basing on when using EDLP are the following: * Steady, competitive prices will lead to even demand for products. * Inventory and other logistical costs will drop due to effective management of product flows. * There will be reduction of promotional costs and other forms of trade. * The costs of saving due to consistent demand and better management of inventory will result to lower final price of the products. (Hurwich...
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...University of Phoenix Material Conflict Management Plan 1. Identify the available conflict management strategies and their strengths and weaknesses. Strategy Strengths Weaknesses Competing High concern for personal goals and low concern for relationships Can escalate conflict; losers may retaliate Accommodating Keeps peace amongst team Your own personal concerns are neglected Avoiding Problem may eventually go way or it may fall in the hands of another to handle Nothing gets resolved Compromising Leads to quick solutions; avoid straining relationships Values and objectives can be derailed Collaborating Promotes creative problem solving; fosters mutual respect and rapport Takes time and energy 2. Which of the available conflict management strategies is most appropriate for the current situation with David and James? Provide your rationale, including what factors you considered in making your selection. Your response should be at least 100 words. A good manager will know how to resolve conflict in the work place by reducing hostility and aggressiveness which must address the needs and concerns of everyone involved including the manager. By addressing all the teams needs would give greater satisfaction to everyone involved and a feeling of resolution. Compromising – This strategy may serve all the team’s needs, the manager can explain to all parties involved that some compromise needs to exist to serve everyone needs and to...
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...THE THESIS PROPOSAL: DESIGNING CURRICULUM Objectives of these Guidelines: These guidelines will prepare the student to be able to: 1. List and describe the chapters and subsections of a thesis proposal and a research report and their proper order. 2. Describe the characteristics of an appropriate proposal title. 3. Compare and contrast the styles appropriate for (1) a dissertation or thesis, (2) a research proposal, (3) a research report, (4) a professional paper, and (5) a journal article. CURRICULUM PROPOSAL OUTLINE Cover Page Table of Contents Chapter 1 - Introduction (Need for the Study, Justification) Problem Statement Objectives Definitions of Terms Limitations of the Study Basic Assumptions Chapter 2 - Review of Literature (Can have sections deemed necessary) Chapter 3 - Procedures Curriculum Design Subject Selection Outcome Measures (of the project/thesis) Conditions of Presenting the Curriculum Treatments - What are the Unit(s)/Lessons? Evaluation (of the subjects after each lesson) *plus ** Chapter 4 presentation should follow the same sequence and topics as that presented in Chapter 3. ** Chapter 4 - Results (The actual unit(s) & lessons) Findings Relative to problem Field Test Results Summary of Data Chapter 5 - Discussion *Bibliography *Appendices ELEMENTS OF THE CURRICULUM PROPOSAL Cover Page Follow the style prescribed by the style manual suggested by the university...
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...Introduction to the Theory of Accounting and Control ••••••••••••••••••••••••••••••••••••••••••••• Three ideas are central to understanding accounting and control in organizations. First, all organizations are sets of contracts among individuals or groups of indi viduals. Second, provision of shared information among the contracting parties helps design and implement these contracts. Finally, control in organizations is a sustainable balance or equilibrium among the interests of its participants. It should be distinguished from control of organizations, which suggests manipulation or exploitation of some participants by others. We start this overview by stating these ideas briefly, leaving most definitions and details for the following chapters. We conclude with a summary of ideas about micro and macro aspects of accounting and control presented in the book. Organizations as a Set of Contracts Organizations are many things to many people. Business firms, for example, are employers to those who work for them; customers to the purveyors of goods and services; suppliers to their own customers; benefactors to those who receive their charity; investments to those who save; taxpayers to the government; a threat to the livelihood of their competitors; impersonal bureaucracies to the powerless; and pillars of free enterprise to the believers. Organizations are variously seen as com plex networks of human relationships, production functions, hierarchies, even garbage cans....
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...Essentials of game theory 1. Introduction Game theory is the study of strategic decision making. More formally, it is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers."[1] An alternative term suggested "as a more descriptive name for the discipline" is interactive decision theory.[2] Game theory is mainly used in economics, political science, and psychology, as well as logic and biology. The subject first addressed zero-sum games, such that one person's gains exactly equal net losses of the other participant(s). Today, however, game theory applies to a wide range of class relations, and has developed into an umbrella term for the logical side of science, to include both human and non-humans, like computers. Classic uses include a sense of balance in numerous games, where each person has found or developed a tactic that cannot successfully better his results, given the other approach. Modern game theory began with the idea regarding the existence of mixed-strategy equilibria in two-person zero-sum games and its proof by John von Neumann. Von Neumann's original proof used Brouwer's fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics. His paper was followed by his 1944 book Theory of Games and Economic Behavior, with Oskar Morgenstern, which considered cooperative games of several players. The second edition of this book provided...
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...Game Theory On Gallerie Apex Vs Bata Submitted to Abu Reza Mohammad Muzareba Lecturer Department of Marketing University of Dhaka Submitted by Group: Gamers Section: A Batch: 17th Department of Marketing University of Dhaka Submission date: 21th April, 2012 AbuReza Mohammad Muzareba Lecturer University of Dhaka Dept. of Marketing Subject: Letter of transmittal Dear Sir, Enclosed is a report on the Game theory Between Gallerie Apex and Bata. This report is about the internal and external business strategies of the pioneer footwear company Gallerie Apex and Bata. We were assigned to submit this report in 21th April 2012 to be submitted as a term paper for our Business Mathematics 2 course in the 3rd semester of our BBA program, from the department of Marketing of University of Dhaka. We have completed it whilst trying to meet all its broad and specific objectives within the allotted time. We are submitting the report to you only, as our course instructor and will be keeping a copy for any future references. We have organized our findings about the business strategies of the above mentioned trading companies. This paper includes an introduction to the company in focus, in terms of their business strategies and an analysis of those processes with some possible recommendations. It has been completed with a conclusion. At the end of the report...
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...8/28/2012 Why Advertising Research? Introduction to Advertising Research Ying Xie MKT 6335: Advertising Research Fall 2012 Naveen Jindal School of Management University of Texas at Dallas What is advertising? What is good advertising, in your opinion? 1 2 Why Advertising Research? How do we create an advertising campaign? 1. creative strategy: a statement or concept of what a particular message or campaign will say – a big idea Absolute Vodka MasterCard “there are some things in life money can’t buy” 2. advertising appeal and selling proposition 3. creative execution: art direction and copy Why Advertising Research? Advertising research contributes throughout entire advertising planning process Short history of advertising research 1960’s vs. today 3 4 Process of Research Contribution The Market Successful advertising planning builds on research-driven analysis of the marketplace Current and potential future trends Forces shaping the marketplace How market forces affect own and competitive brands and advertising 5 6 1 8/28/2012 The Consumer Effective advertising based on thorough understanding of Forrester Segmentation: Involvement With Social Technologies target audience Three dimensions of target audience analysis: Consumer trends How consumers interact with brand/product/service Relationship between consumers and brand/product/service 7 8 Creative: development...
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...Downstream competition between an upstream supplier and an independent downstream firm by Yaron Yehezkel* Preliminary and incomplete March, 2003 Abstract: I consider an upstream supplier that supplies an input to an independent downstream firm and in addition sells the final product to consumers. I find that the upstream supplier cannot implement the monopoly outcome without imposing maximum resale price maintenance (RPM). RPM increases social welfare if consumers’ valuation for the final product of the downstream firm is high, and decreases social welfare otherwise. When the downstream firm is privately informed about the demand it faces, entry into the downstream market serves as a countervailing incentive that allows the upstream supplier to reduce the information rents. Consequently, asymmetric information induces the upstream supplier to enter the downstream market even if entry is not profitable under full information. Keywords: dual distribution, two-part tariff, resale price maintenance, information rents, countervailing incentive JEL Classification Numbers: L41, L42, D82 * I thank Koresh Galil, Asaf Ravkai, Yossi Spiegel, Manuel Trajtenberg, Marisa Trajterman and seminar percipients at Tel Aviv University for helpful comments. * Tel Aviv University, Ramat Aviv, Tel Aviv, 69978, Israel. Email: . 2 1. Introduction Upstream suppliers often adopt a dual distribution system whereby they not only sell their products to retailers but also enter the downstream...
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...review July 31, 2007) When people speak, they often insinuate their intent indirectly rather than stating it as a bald proposition. Examples include sexual come-ons, veiled threats, polite requests, and concealed bribes. We propose a three-part theory of indirect speech, based on the idea that human communication involves a mixture of cooperation and conflict. First, indirect requests allow for plausible deniability, in which a cooperative listener can accept the request, but an uncooperative one cannot react adversarially to it. This intuition is supported by a game-theoretic model that predicts the costs and benefits to a speaker of direct and indirect requests. Second, language has two functions: to convey information and to negotiate the type of relationship holding between speaker and hearer (in particular, dominance, communality, or reciprocity). The emotional costs of a mismatch in the assumed relationship type can create a need for plausible deniability and, thereby, select for indirectness even when there are no tangible costs. Third, people perceive language as a digital medium, which allows a sentence to generate common knowledge, to propagate a message with high fidelity, and to serve as a reference point in coordination games. This feature makes an indirect request qualitatively different from a direct one even when the speaker and listener can infer each other’s intentions with high confidence. eople often don’t blurt out what they mean in so many words...
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...Running Head: Business Research in Government Contracting 1 Business Research in Government Contracting Christian Wheeler RES/ 351 Business Research Willie Larry, Jr. June 10, 2013 Business Research in Government Contracting 2 Business Research in Government Contracting A few years ago, government contracts with contractors were being drastically changed by a unstable economy. In one particular field, manpower and strategy were changed. My experience comes from working on such a government contract. Certain business research methods, like defining the goals, decision support, intelligence, strategy and tactics are all formulated into the final outcome. (1) I work for a company called British Aerospace Electronic Systems, or simply BAE. It is a worldwide company operating on every continent and most major U.S. government contracts. However with an uncertain economy, the U.S. government needed to drastically reduce contracts that once dominated the last twenty years. Although, I was no part in the decision making or even close to it, I can only share the experience from what I seen personally. In my particular field, there was a staffing of thirty three employees. This facility is called the Central Issue Facility. Most major army installations all have one. Job wise, we issue, and receive the soldiers’ equipment for training purposes to gear to deploy...
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...Exhibits 1-6 show us all the nitty-gritty details from line of management to floor layout to specific job functions in the department. Exhibit 4 shows us the skill it requires to complete a job and exhibit 5 gives us information about the plating room personnel. Exhibit 6 shows us the subgroups that developed in the plating room and more. All of this information provides a solid foundation to begin understanding how the role system came about. B. Tony's group emphasized high standards of both quality and inventiveness. The confidence that radiated off of Tony and his group probably enticed others to join them. They felt like they were the best so they acted like it and it made people want to be on their team. Correlating this to the equity theory, they felt that if they put in the effort, the outcome would be positive recognition by their peers. Tony was very skillful so being with him made others look good. This group was also cohesive in and out of the work place. They would get together and go out to eat and do various things outside of work. Clark's group was also dominant because they strove to be successful like Sarto's group. They too thought that if they put in the effort, positive things will result. Clark's group was not as inventive as Sarto's but their determination and attitude drew other members in. Clark's group was also in cahoots with Tony's group a few times a year so they had a strong alliance which also may have been enticing to new members. C. Norms occurred...
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