Kent Blumberg

Using Game Theory in Business

You may have seen the movie A Beautiful Mind, a fictionalized account of the life of John Nash.  Nash is a mathematician who has worked in the area of game theory, among other things.  Did you know that some of the principles of game theory can usefully be applied to business?

Brainstorming

Brainstorming is one of several methods that can increase innovation in an organization.  Although the technique can be used in a wide variety of situations, I find it particularly useful at three stages of the problem solving process:  generating a list of issues, generating a list of root causes of a chosen problem, and generating a list of alternative solutions to a chosen cause.

Monthly Coaching Sessions

In order to stay in touch with employees, make timely mid-course corrections, avoid surprises and maximize the chances of success, I am in the habit of conducting monthly one-on-one coaching sessions with each member of my team.  This practice ensures that we step back and review progress together at least once a month.  Here's how I do it.