REMA’s SUMMER OF IDIOMS! (Special Edition)
Original Release: 8/1/2009
What makes this a special edition you may ask? Well, the following expression is brought to you by a special guest!
Special Guest: Chloe
What was said? Table Stakes (in two of Chloe’s meetings last week)
Did someone really say that? Yes (unless you think Chloe is lying).
What does it mean? In business, table stakes also refers to the minimum entry requirement for a market or business arrangement. It can refer to pricing, cost models, technology, or other capability that represents a minimum requirement to have a credible competitive starting position in a market or other business arrangement. For example, if you want to be a Wireless service provider the table stakes are the basic features you need to have in order to be in that business to achieve foundation capability – Network, Handsets, a data service, a mail server etc. Beyond that real competitive advantage comes from additional nimbleness and cost or product differentiation.
In poker, table stakes limits the amount a player can win or lose in the play of a single hand. A player may bet no more money than he had on the table at the beginning of that hand and consequently cannot go back to his pocket for more money once a hand is dealt. In between hands however, a player is free to rebuy or add-on so long as his entire stack after the rebuy or add-on does not exceed the maximum buy-in<UrlBlockedError.aspx>.
SIDE NOTE: Rema’s Summer of Idioms welcomes new subscribers: Lindsey and Alan.
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