A note on competitive dynamics: for MBA students
A note on competitive dynamics : for MBA students (information from perplexity.ai ) [ A preliminary literature review exercise ] My question 1 : " What is the topic of competitive dynamics in strategic management all about?" The reply : " Competitive dynamics in strategic management examines the ongoing interactions between firms in a competitive environment, focusing on how the actions of one firm influence the responses of its rivals. This field of study is crucial for understanding how companies can maintain or enhance their competitive positions through strategic maneuvers. Key Concepts 1. Action-Reaction Framework : Competitive dynamics is fundamentally about the sequence of actions and reactions among competing firms. When one firm takes a strategic action—such as launching a new product or altering pricing—rivals are likely to respond in ways that can alter the competitive landscape 1 2 . 2. Dynamic Strategies : The nature of competitive dynamics acknowledges that...