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Pages:
4 pages/≈1100 words
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2 Sources
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APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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Topic:

MGT501 MOD3 Case: Coevolutionary gaming

Essay Instructions:

Read the article referenced below from the Harvard Business Review about a simulation technique used by the Department of Defense to facilitate strategic planning. The author points out how this same technique can be used by a number of businesses as well.

Required Reading

This article can be found in the EBSCOHost collection, Academic Search Complete database.

Cares, Jeff; Miskel, Jim. (2007). Take Your Third Move First. Harvard Business Review, Vol. 85 Issue 3, 20-21.

Assignment

Write a 4- to 5-page paper with an introduction, conclusion, section headings, and references that answers the following questions:

  1. How can coevolutionary gaming facilitate group decision making?
  2. What are its limitations?

Keys to the Assignment

The key aspects of this assignment that should be covered in your paper include:

  • Define the problem: Explain how this strategic planning tool can be used to improve decision making. Be specific and use terminology and concepts from the background readings.
  • Analyze the cause: Discuss how coevolutionary gaming would affect communication processes using the Johari window, and/or how it can impact group decision biases such as risky/cautious shift and groupthink.
  • Propose a solution: Describe a situation in which coevolutionary gaming might impede decision making.

Assignment Expectations

Your paper will be evaluated using the following five (5) criteria:

  • Assignment-Driven Criteria (Precision and Breadth): Does the paper fully address all Keys to the Assignment? Are the concepts behind the Keys to the Assignment addressed accurately and precisely using sound logic? Does the paper meet minimum length requirements? 
  • Critical Thinking (Critical Thinking and Depth): Does the paper demonstrate graduate-level analysis, in which information derived from multiple sources, expert opinions, and assumptions has been critically evaluated and synthesized in the formulation of a logical set of conclusions? Does the paper address the topic with sufficient depth of discussion and analysis?
  • Business Writing (Clarity and Organization): Is the paper well written (clear, developed logically, and well organized)? Are the grammar, spelling, and vocabulary appropriate for graduate-level work? Are section headings included in all papers? Are paraphrasing and synthesis of concepts the primary means of responding to the Keys to the Assignment, or is justification/support instead conveyed through excessive use of direct quotations? 
  • Effective Use of Information (Information Literacy and References): Does the paper demonstrate that the student has read, understood and can apply the background materials for the module?  If required, has the student demonstrated effective research, as evidenced by student’s use of relevant and quality (library?) sources? Do additional sources used in paper provide strong support for conclusions drawn, and do they help in shaping the overall paper? 
  • Citing Sources: Does the student demonstrate understanding of APA Style of referencing, by inclusion of proper end references and in-text citations (for paraphrased text and direct quotations) as appropriate? Have all sources (e.g., references used from the Background page, the assignment readings, and outside research) been included, and are these properly cited? Have all end references been included within the body of the paper as in-text citations?

 

Essay Sample Content Preview:

Stew-mgt501-mod3-case
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Institution
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Introduction
Coevolutionary gaming is an actual pragmatic means for group decision making particularly where risk issues and improbabilities are great. It is an exceptional situation of planning process, as postulated by Jim Miskel and Jeff Cares in their work "Take Your Third Move First," that fundamentally develops from the dispute that planning and ensuing decision making ought not to be done in a vacuum. According to Jeff and Jim (2007), while forecasting using the contemporary and chronological data in order to make decisions, it is not prudent to assume that the recipients of the effects of the decisions made will never react. This theory further, advances that decisions made in such ways are myopic and do not regard those who will be affected neither does it consider their reactions.
Problem
Jeff and Jim (2007) warn that, the aftermath of decisions made in a "vacuum" could have considerable negative effects, especially, if it is done with an aim of maintaining the status quo. For instance, consider an entrepreneur who gets into a new market and decides to implement price reduction in order to acquire large market shares. The new entrepreneur’s decision will be inspired by mere observations of the prices of the goods or services in the market without wiser consideration of the other playmakers in the market. According to the novice, the decision may seem simple. However, the existing entrepreneurs will be compelled to react to this reduction in price by the newcomer. In addition, they have better capabilities to battle out it this decision as compared to the newcomer because, they have adequate market volume that accords them the best economies of scale. With better economies of scale, the existing market leaders may consider reducing their prices much lower to an extent that it may cause the collapse of the new entrepreneur whose economy of scale may not be able to match those of the market leaders.
How Coevolutionary Gaming Facilitate Group Decision making
In the event that the newcomer is under pressure and is no longer able to sustain his or her newly found business, he or she will be compelled to consider a collective decision making with the other market leaders. On the other hand, the other market leaders will also incur losses in the event of fighting the newcomer. Losses in business are not desirable and the market leaders will also need to come up with a collective decision that is agreed upon by all the market players. In this way, the coevolutionary war gaming will have resulted into a group decision. For everyone, to continue enjoying the labor of their business efforts, a decision made by all the entrepreneur concerning the prices of goods and services will have to be arrived by all of them. Any newcomer intending to enter into the market, therefore, needs to carry a study of the existing market element including the existing market leaders before ultimately making a decision in the market (Cares and Miskel, 2007).
The coevolutionary war gaming becomes a valuable means in such situations. As a result, considerations will have to be accorded to all the procedures of planning and the anticipated retaliations of the parties that will af...
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