One of the important lessons about competing in a gobaly compettive marketplace that emerges from…

One of the important lessons about competing in a gobaly compettive marketplace that emerges from participating in The Buchess Strategy Game simulation enercise in thata compary’s managers are pressured by ever-shiting compettive conditions to carefuly study the strategies and moves of rival companies in order to judge what actions they need to take to imonove their company’s competitiveness vis-a-vis rivals and boost its overal performanct-a compaty that ignorst the latest maneuvers of rival companies is flying bilind into competive bartie and ili-prepared to craft a set of competiliely succestal competitive efforts in each region.after 3 or 4 decision rounds (fearsh, it becomes relablvely easy to diagnose what atrategy a rival company is pursuing, to anticipate what moves the rival is liely to make nest, and fo cratt a strategy and an evolving set of competitive efforts in each region that will overpower many, if not most, rival flrms.the best time for a company to overhaul iss strategy and churt a new atrategic course to overpower fival firms is after the first few decision rounds (years) when the strategies of rival firms become apoareet and it is nelatively easy to outwit and outmaneuver themthe company that lumps out to be the industry leader earty on is very lialy going lo be the industry leader at the end of the simulation enercipe-it is extremely difficult for traling companies to ever develop a strategy and combination of competitive efforts in each region that enables them to compete more effectively and overtake the early industry leader.the best strategy for being among the top-performing comparies in the industry is to strongly differentiate a company’s product oftering from the oflerings of rival firms and charpe prices that are close to the lowest of any company in the induatry in all segments of the world market.