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Ludwig-Maximilians-Universität München (LMU)
Competitive Strategy
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Ludwig-Maximilians-Universität München (LMU)

Competitive Strategy

This course is part of Competitive Strategy and Organization Design Specialization

Tobias Kretschmer

Instructor: Tobias Kretschmer

368,689 already enrolled

6 modules
Gain insight into a topic and learn the fundamentals.
4.7

(3,104 reviews)

2 weeks to complete
at 10 hours a week
Flexible schedule
Learn at your own pace
97%
Most learners liked this course

6 modules
Gain insight into a topic and learn the fundamentals.
4.7

(3,104 reviews)

2 weeks to complete
at 10 hours a week
Flexible schedule
Learn at your own pace
97%
Most learners liked this course
  • About
  • Outcomes
  • Modules
  • Recommendations
  • Testimonials
  • Reviews

Skills you'll gain

  • Strategic Thinking
  • Product Strategy
  • Innovation
  • Competitive Analysis
  • Strategic Partnership
  • Game Theory
  • Business Strategy
  • Strategic Decision-Making
  • Market Analysis
  • New Product Development

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

25 assignments

Taught in English

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Build your subject-matter expertise

This course is part of the Competitive Strategy and Organization Design Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
  • Learn new concepts from industry experts
  • Gain a foundational understanding of a subject or tool
  • Develop job-relevant skills with hands-on projects
  • Earn a shareable career certificate

There are 6 modules in this course

In this six-module course, you will learn how businesses and organizations behave in situations in which strategic decisions are interdependent, i.e. where my actions affect my competitors' profits and vice versa. Using the basic tools of game theory, we will analyse how businesses choose strategies to attain competitive advantage.

This course is also available in Chinese. Please go to our course catalog to access the Chinese version of Competitive Strategy.

In this module, we introduce the basic concepts of game theory and use strategic games to learn competitor analysis. We answer “what is a strategy?” and look at the different ways to determine a best or dominant strategy. We also discuss the concepts of Nash Equilibrium and Prisoners’ Dilemma - and learn that it is important to anticipate and take into consideration the actions of the other players. Lastly, we analyse what happens when we change the game from simultaneous (where everybody acts at the same time) to sequential (where players move after each other).

What's included

9 videos3 readings3 assignments

9 videos•Total 68 minutes
  • Introduction•3 minutes•Preview module
  • Game Setting•6 minutes
  • Eliminating Dominated Strategies•11 minutes
  • Nash Equilibrium•11 minutes
  • Prisoners ’ Dilemma•3 minutes
  • Game Setting•10 minutes
  • Backward Induction•8 minutes
  • Credible Threats •10 minutes
  • Wrap Up•2 minutes
3 readings•Total 30 minutes
  • How to Use Discussion Forums•10 minutes
  • Get to Know Your Classmates•10 minutes
  • Complete slides for week1•10 minutes
3 assignments•Total 90 minutes
  • Take Care of Your Competitors•30 minutes
  • Simultaneous Games•30 minutes
  • Sequential Games•30 minutes

According to economic theory, companies compete with each other in the marketplace. In reality, they are often friendly and cooperate with each other. In this module, we attempt to understand this strategy, and why it is good for the organizations involved. With this, we evaluate the factors that encourage or hinder cooperation and apply them in different examples.

What's included

9 videos1 reading5 assignments

9 videos•Total 60 minutes
  • Introduction•2 minutes•Preview module
  • Reasons for Cooperation•3 minutes
  • Finite Repetition •9 minutes
  • Backward Induction•9 minutes
  • Infinite Repetition•10 minutes
  • Factors Influencing Cooperation•8 minutes
  • Aggressive Commitment•10 minutes
  • Cooperative Commitment•4 minutes
  • Wrap Up•2 minutes
1 reading•Total 10 minutes
  • Complete Slides Week 2•10 minutes
5 assignments•Total 82 minutes
  • Why Firms Work Together•30 minutes
  • Reasons for Cooperation•6 minutes
  • Finite Repetition•8 minutes
  • Infinite Repetition•30 minutes
  • Commitment•8 minutes

In this module, we introduce complements and discuss what they mean to us in economic terms. We study why companies like to sell their products in a bundle - and how complementarity creates switching costs. We also discuss the importance of that coordination among companies with complementary products. Finally, we look at strategic partnerships as a powerful tool to align companies’ interests in this specific setting.

What's included

7 videos1 reading4 assignments

7 videos•Total 42 minutes
  • Introduction•2 minutes•Preview module
  • Complements: Examples and Definitions•7 minutes
  • Generic Strategies •8 minutes
  • Positive Externalities •9 minutes
  • Examples •4 minutes
  • Strategic Partnerships •7 minutes
  • Wrap Up•3 minutes
1 reading•Total 10 minutes
  • Complete Slides Week 3•10 minutes
4 assignments•Total 120 minutes
  • Complementary Products and Strategic Partnerships•30 minutes
  • Complements•30 minutes
  • Strategies for Complements•30 minutes
  • Complements and Cooperation•30 minutes

This module is about market entry. We first look at different tools to assess the attractiveness of a market – and then discuss strategies that have proven to be helpful for entering a new market, such as positioning and marketing strategies. We also look from the other perspective, and analyse what established businesses can do to keep new competitors out of the market.

What's included

10 videos1 reading4 assignments

10 videos•Total 80 minutes
  • Introduction•1 minute•Preview module
  • Market Attractiveness •6 minutes
  • Structural Entry Barriers•12 minutes
  • Strategic Entry Barriers•6 minutes
  • Commitment / Value Chain Reconfiguration•10 minutes
  • Judo Economics / Niche Market •10 minutes
  • Structural Entry Barriers / Commitment•12 minutes
  • Limit Pricing / Predatory Pricing •8 minutes
  • Pre-Emption •5 minutes
  • Wrap Up•3 minutes
1 reading•Total 10 minutes
  • Complete Slides Week 4•10 minutes
4 assignments•Total 100 minutes
  • Entering a New Market•30 minutes
  • Market Choice and Entry Barriers•10 minutes
  • Entry Strategies•30 minutes
  • Entry Deterrence•30 minutes

In the context of R&D, a number of important strategic questions arise consistently; in this module, we take a closer look at these questions. Though many innovations are created by a stroke of luck, it seems that the majority of innovations are created because their inventors actively strive towards this specific innovation and differentiation strategy.

What's included

9 videos1 reading4 assignments

9 videos•Total 52 minutes
  • Introduction•2 minutes•Preview module
  • Stages of R&D•4 minutes
  • Types of Innovation•4 minutes
  • Competitive Market•4 minutes
  • Monopolist•6 minutes
  • Monopolist with Threat of Entry•9 minutes
  • Innovation under Competition•12 minutes
  • Sleeping Patents •4 minutes
  • Wrap Up •3 minutes
1 reading•Total 10 minutes
  • Complete Slides Week 5•10 minutes
4 assignments•Total 120 minutes
  • Why Worry About Research and Development•30 minutes
  • R & D and Innovation•30 minutes
  • Incentives to Innovate•30 minutes
  • Innovation & Competition•30 minutes

In this module, we focus on strategic aspects of product design and pricing strategy. We analyse how companies can adjust their products in a way that lowers the competitive pressure in the market. Later on, we look at some generic strategies for product design and pricing – and discuss the problems related to being stuck between these strategies.

What's included

9 videos1 reading5 assignments

9 videos•Total 59 minutes
  • Introduction •2 minutes•Preview module
  • Theoretical Model •4 minutes
  • Adjusting Model Assumptions•6 minutes
  • Introduction•6 minutes
  • Horizontal Differentiation•11 minutes
  • Vertical Differentiation•8 minutes
  • Generic Strategies•6 minutes
  • Stuck in the Middle•5 minutes
  • Wrap Up•6 minutes
1 reading•Total 10 minutes
  • Complete Slides Week 6•10 minutes
5 assignments•Total 150 minutes
  • Designing Products Wisely•30 minutes
  • Final-exam•30 minutes
  • Bertrand Paradox•30 minutes
  • Product Differentiation•30 minutes
  • Pricing and Product Decisions•30 minutes

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Instructor

Instructor ratings

Instructor ratings

We asked all learners to give feedback on our instructors based on the quality of their teaching style.

4.8 (402 ratings)
Tobias Kretschmer
Tobias Kretschmer
Ludwig-Maximilians-Universität München (LMU)
11 Courses•471,242 learners

Offered by

Ludwig-Maximilians-Universität München (LMU)

Offered by

Ludwig-Maximilians-Universität München (LMU)

As one of Europe's leading research universities, LMU Munich is committed to the highest international standards of excellence in research and teaching. Building on its 500-year-tradition of scholarship, LMU covers a broad spectrum of disciplines, ranging from the humanities and cultural studies through law, economics and social studies to medicine and the sciences.

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Learner reviews

4.7

3,104 reviews

  • 5 stars

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  • 3 stars

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Showing 3 of 3104

A
AR
5

Reviewed on May 22, 2020

A great course, and the interactive way of instructor made it more interesting. Instructor was really good at explaining things. Plus the quizzes were really helpful to memorize everything.

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AD
5

Reviewed on Jun 28, 2020

A very engaging course. Prof Tobias Kretschmer made it very interesting with excellent examples which anyone can relate to. The presentation and the pace of course was very good.

R
RA
5

Reviewed on Sep 9, 2020

I like the method of teaching of the instructor;very simple, clear and comprehensive. I had no idea in business concept but this course had opened my eyes into the business world. Great!✊

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When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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