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Stackelberg competition. The Stackelberg leadership model is a strategic game in economics in which the leader firm moves first and then the follower firms move sequentially (hence, it is sometimes described as the "leader-follower game"). It is named after the German economist Heinrich Freiherr von Stackelberg who published Marktform und ...
Bertrand competition is a model of competition used in economics, named after Joseph Louis François Bertrand (1822–1900). It describes interactions among firms (sellers) that set prices and their customers (buyers) that choose quantities at the prices set. The model was formulated in 1883 by Bertrand in a review of Antoine Augustin Cournot ...
Cournot competition. Cournot competition is an economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide on independently of each other and at the same time. It is named after Antoine Augustin Cournot (1801–1877) who was inspired by observing competition in a ...
This illustrates that the economic order quantity is always in the best interests of the firm. Extensions of the EOQ model Quantity discounts. An important extension to the EOQ model is to accommodate quantity discounts. There are two main types of quantity discounts: (1) all-units and (2) incremental. Here is a numerical example:
The theory of constraints ( TOC) is a management paradigm that views any manageable system as being limited in achieving more of its goals by a very small number of constraints. There is always at least one constraint, and TOC uses a focusing process to identify the constraint and restructure the rest of the organization around it.
Strategy. The managerial grid model or managerial grid theory (1964) is a model, developed by Robert R. Blake and Jane Mouton, of leadership styles. [1] This model originally identified five different leadership styles based on the concern for people and the concern for production . The optimal leadership style in this model is based on Theory Y .
Personal leadership has three elements: (1) technical knowhow and skill; (2) the right attitude towards other people; and (3) psychological self-mastery. The first element, Technical Knowhow and Skill, is about knowing one's technical weaknesses and taking action to update one's knowledge and skills.
Substitutes for leadership theory is a leadership theory first developed by Steven Kerr and John M. Jermier and published in Organizational Behavior and Human Performance in December 1978. [1] The theory states that different situational factors can enhance, neutralize, or substitute for leader behaviors [2] (Den Hartog & Koopman, 2001).