Many MBA applicants feel that they are purchasing a brand when they choose a business school to attend, but the educational experience itself is crucial to your future, and no one will affect your education more than your professors. Each Wednesday, we profile a standout professor as identified by students. Today, we profile Barry Nalebuff from the Yale School of Management (SOM).
Perhaps best known as one of the founders of Honest Tea, Barry Nalebuff (“Competitive & Corporate Strategy”) is the Milton Steinbach Professor of Management at the Yale SOM. An expert in game theory and strategy, Nalebuff has been a professor at the SOM since 1989. A second year told mbaMission that in the classroom, Nalebuff “is a favorite for his sharp wit and insights.” His book The Art of Strategy: A Game Theorist’s Guide to Success in Business and Life (W.W. Norton & Co., 2008) explores how almost all interactions, business and personal alike, have a game theory component. Nalebuff and Adam Brandenburger, a professor of business economics and strategy at NYU’s Stern School of Business, developed the concept of a new business strategy called co-opetition, which they write about in a book of the same name: Co-Opetition: A Revolutionary Mindset That Combines Competition and Cooperation: The Game Theory Strategy That’s Changing the Game of Business (Crown Business, 1997).
The book’s Web site describes co-opetition as “a method that goes beyond the old rules of competition and cooperation to combine the advantages of both. Co-opetition means cooperating to create a bigger business ‘pie,’ while competing to divide it up.” A first year noted in a Yale SOM Community Blog post, “Prof. Nalebuff never misses an opportunity to illustrate the ways in which companies can cooperate to grow the PIE (potential industry earnings). Of course, he then always reminds us that these same companies should compete aggressively to secure the biggest piece of that newly expanded PIE.”
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