Session: How do economists interested in strategy think about industry today? We

Question

Session: How do economists interested in strategy think about industry today?

We can go further than challenging the idea that industry profit differences reflect firm rather

than industry factors. We can challenge the whole idea that the traditional concept of an industry

is really a good way to think about firm positioning and profitability. Recent strategy scholars

have moved away from the noncooperative game theory used widely by IO and taken up

coalitional game theory ideas. In coalitional game theory, the industry as a central concept gives

way to a focus on transactions and participants to those transactions.

please use citations and references if needed. limit 75-125 words

Explanation / Answer

Looking at the present scenario of international business, there is number of ripples which can be faced by the economy of any country. The increased competition, globalization, political instability, dissolution of many regional alliances and formation of the same has given a birth to the various issues which must be tackled by the economists.

The present era’s economists try to find out the solution to all these issues by having an effective decision making and potent strategy. These strategies must be made as per the traits and the requirements of the economy and it must be aimed at facilitating the best results.

Ref.:-

Why. (2016, July 25). Retrieved December 20, 2017, from //.economistblogs/economist-explains/2016/07/economist-explains-19

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