Link here: https://www.youtube.com/watch?v=_osKgFwKoDQ
I wanted to note down some key takeaways from the video listed above:
In Game Theory, there are 2 types of games:
Finite Game |
Infinite Game |
|
|
When Finite Players play against Finite Players, or when Infinite Players play against Infinite Players, the system is stable. When a Finite Player is pitted against an Infinite Player, there’s a quagmire.
Business is an Infinite Game
- There are known and unknown players
- Rules are changeable. Nobody has agreed to rules.
- There is no “Winning”. It just perpetuates.
The Game of Business has been around for a long time, and will outlast all current companies in the game today. However, most companies today think of business as a Finite Game, by creating arbitrary players and rules. When you’re constanting creating new “goals” based on the Finite Game, you waste resources.
Infinite Game |
Finite Game |
Based on Values – What do we stand for? | Based on Interests |
Vision – Crystal clear sense of what the finish line looks like, without knowing how far away it is | Goal-Based – Measureable |
Looks at Trends | Looks at arbitrary points in time |
Within the Infinite Game, there should be many Finite Games that leads us toward the Vision. It’s our way of getting closer toward the vision. Finite Games in a vacuum (Goals determined purely on Interests) will lead to inefficiency and frustration. More
Recent Comments