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Global Strategy and Repeated Games

In: Organizational Strategy and Technological Adaptation to Global Change

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  • Robin Matthews

Abstract

Deregulation of markets, financial globalization, the diffusion of information technologies, the evolution of flexible organizations, and shorter product cycles,1 are interrelated stimuli for changes in the dynamics of competition,2,3 that have taken place, on a global scale, since the early 1980s. Many firms are experiencing the trauma of a supply shock from developing nations. Deregulation of capital markets has made it possible to transfer capital and technology from industrially advanced countries, so developing nations can compete not just in cheap commodity products but in those requiring sophisticated technologies. They have three times as many people of working age as the OECD countries, and the transfer of skills added to their acquiescence in significantly lower wages means that the scope of competition has widened, and there is an international market for labour as well as products. If it was ever true, the maxim4,5 that firms need to concentrate on either reducing their costs or differentiating their products no longer holds. Rivalry is manifested globally by cooperation through mergers and alliances, fuelled by foreign direct investment, as well by competition. The magnitude of change since the 1980s means that the period is a watershed in business history. Unusual events have become commonplace and widespread experiences.

Suggested Citation

  • Robin Matthews, 1998. "Global Strategy and Repeated Games," Palgrave Macmillan Books, in: Frank McDonald & Richard Thorpe (ed.), Organizational Strategy and Technological Adaptation to Global Change, chapter 5, pages 58-84, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14602-4_6
    DOI: 10.1007/978-1-349-14602-4_6
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