Skip main navigation

Hurry, only 6 days left to get one year of Unlimited learning for £249.99 £174.99. New subscribers only. T&Cs apply

Find out more

Game theory

Game theory has also been proposed as core to strategic thinking and core to managing uncertainty.

Game theory has also been proposed as core to strategic thinking and core to managing uncertainty. Turbulence, change, and unpredictability are constantly challenging business. These are both internal and external factors.

Policy makers, strategists, and executives are always looking for tools to minimise the uncertainty and develop strategies that confront the challenges and maximise shareholder wealth through performance. One such technique is to look to game theory.

Game theory uses mathematical modelling and techniques such as probability to anticipate the response of competitors and other players and the reaction to the strategy.

This article is from the free online

Fundamentals of Business Strategy

Created by
FutureLearn - Learning For Life

Reach your personal and professional goals

Unlock access to hundreds of expert online courses and degrees from top universities and educators to gain accredited qualifications and professional CV-building certificates.

Join over 18 million learners to launch, switch or build upon your career, all at your own pace, across a wide range of topic areas.

Start Learning now