Change your Business Game!!!

The language used in Business is full of expressions inspired from the military and sports. We know that Military and sports is about winning and losing. However, business is not about winning and losing as we know that Companies can succeed without competitions to lose. The logic is that whoever plays the game with carelessness they tend to lose.

The essence of business success is in making sure that we are playing the right game. How do we know if it’s the right game or the wrong game? To answer these questions, there has been a strong developed framework that draws from the insights of game theory. The primary insight of game theory is putting yourself in the shoes of other players and trying to play out all the reactions to their actions as far ahead as possible. By adopting this perspective, there are higher chances for success in today’s challenging business environment.

In other words, companies should become cooperative and competitive to change the game. Who are the participants in the game of business? We have quick 2 steps to achieve this model.

First step, is to draw a business model framework according to the present business structure which is then improvised with the new framework toward changing and improvising the game.

The second step is identifying if all the below five elements of the game are applicable, which are as follows

1) Choosing the right players,
2) Added values that each player brings to the game.
3) Rules give structure to the game.
4) Tactics are moves used to shape the way players perceive the game.
5) Scope describes the boundaries of the game.
 
Successful business strategies begin by assessing and then changing one or more of these options