| Playing Time |
01h:16m:04s |
| Note |
10/17/201612:00:00AM |
| Summary |
Learn how to use economics to make better business decisions. Explore economic theories to strategize and solve business problems from demand and competition to pricing products. |
| Cast |
Presenter: Stefan Michel |
| Summary |
Managers can use economics to strategize and solve a variety of business problems, from the mundane to the mission critical. In this course, IMD Professor of Strategic Marketing Stefan Michel explains how to use economic theory to answer strategic questions such as… What are customers buying? (demand theory) What should we produce? (production theory) Which costs do I need to worry about now? (cost theory) What market am I in? (competition theory) What should we charge for it? (pricing theory) To understand what managerial economics looks like in practice, Stefan explains how Google's auction-based advertising system employs the principles of game theory and how understanding this can help decision makers to outmaneuver their competitors. |
| System Details |
Latest version of the following browsers: Chrome, Safari, Firefox, or Internet Explorer. Adobe Flash Player Plugin. JavaScript and cookies must be enabled. A broadband Internet connection. |
| Genre |
Instructional films. |
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Educational films. |
| Added Author |
linkedin.com (Firm)
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