Methodology of company's strategy choice on the international market with account for interested parties

Abstract

The main goal of the research is to develop game-theory approach to the problem of the company’s strategy implementation choice taking into account interested parties on the international market. The main objective is a development of the beneficial, managerially applicable instrument to support decision-making process with regard to the company’s strategy implementation choice taking into account influence of interested parties. As a result the methodology integrating strategic management, international management and game theory was developed. It supports strategic decision-making process when company operates on the international market and there are parties interested in the problem and to be accounted. The method includes the transformation of the qualitative nature of the problem into quantitative one with the help of experts’ questionnaires processing with ASPID 3W computer program. This methodology was applied to two strategic problems of two companies: the AF Group implementing the internationalization strategy in the CIS countries and Gazprom making the decision of the choice of the most rational route for the South Stream. The resulting methodology consists of: analysis of the problem and strategic alternatives, discovering interested parties in the conflict, multistage game-theoretic modeling, questioning experts, processing questionnaires’ results with ASPID 3W program, obtaining payoffs, game-theoretic analysis of the model. Moreover, the methodology offers the wide range of opportunities to be applied to different strategic problems.