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TMT group decision method based on system dynamics and game control theory.

Yilei Jiao1, Yuhui Ge1, Meng Chenli2

  • 1College of Management, University of Shanghai for Science and Technology, Shanghai, China.

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|November 9, 2021
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Summary

This study explores top management team (TMT) decision-making using game theory and cybernetics. It proposes a new model integrating game and control theories to understand TMT internal conflict and decision processes.

Keywords:
Game control theoryGroup decision makingTop management team (TMT)

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Area of Science:

  • Management Science
  • Game Theory
  • Systems Theory

Background:

  • Group decision-making in top management teams (TMTs) presents significant research challenges.
  • Understanding the dynamics of internal conflict within TMTs is crucial for effective strategy and performance.

Purpose of the Study:

  • To investigate the evolution of internal conflict in TMTs.
  • To develop a theoretical model for TMT group decision-making by integrating game and control theories.

Main Methods:

  • Game theory to study the evolution of internal conflict.
  • Cybernetics to model the resolution of internal behavioral conflicts.
  • System dynamics to analyze the game and control aspects of TMT decision-making.

Main Results:

  • Detailed analysis of TMT interaction, decision-making processes, and control methods.
  • Application of random game and control perspectives to TMT decision-making.
  • Development of a novel theoretical framework for TMT group decision-making.

Conclusions:

  • The integration of game and control theories offers a new perspective on TMT group decision-making.
  • The proposed model provides a framework for understanding and managing TMT internal dynamics and decision outcomes.