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Foundations of Corporate SuccessHow Business Strategies Add Value$
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John Kay

Print publication date: 1995

Print ISBN-13: 9780198289883

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/019828988X.001.0001

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Co‐Operation and Co‐Ordination

Co‐Operation and Co‐Ordination

Chapter:
(p.33) Chapter 3 Co‐Operation and Co‐Ordination
Source:
Foundations of Corporate Success
Author(s):

John Kay (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/019828988X.003.0003

A firm is viewed as a set of relationships among its stakeholders and between itself and other firms. Game theory is used as a stylized way of discussing issues of cooperation through the ‘Prisoner's Dilemma’, of coordination through the ‘Battle of the Sexes’, and of differentiation through the game of ‘Chicken’. Strategic commitment is seen as a means of gaining by limiting one's own options.

Keywords:   commitment, cooperation, coordination, corporate strategy, differentiation, firms, game theory, real options, relationships, stakeholders

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