0:05

This excerpt summarizes Dr. James Carson's mid-1980s distinction between finite and infinite games. Finite games have known players, fixed rules, and an agreed-upon objective (e.g., sports with a clear beginning, middle, and end). Infinite games include known and unknown players, changeable rules, and an objective to perpetuate play; the speaker applies this framework to assert that business is an infinite game.

Questions this video answers

Doctor James Carson, in the mid-1980s.

Known players; fixed rules; an agreed-upon objective (a clear beginning, middle, and end).

Known and unknown players (new players may join); changeable rules; objective is to perpetuate the game (stay in the game as long as possible).

Business is characterized as an infinite game.

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