Essay about Business Strategy Simulation Analysis

Words: 4300
Pages: 18
Open Document
Business Strategy Simulation Analysis
A. Submit your company’s final cumulative balanced scorecard, income statement, and balance sheet.

Attached.

B. Discuss the generic competitive strategy that you selected for your company. Include the following in your discussion:

The generic competitive strategy that I selected for my company, Kix Footwear, was the Best-Cost Provider Strategy. I wanted to provide consumers with more value for their money by offering a wide variety of attractive, high-quality products at an affordable price through the use of better materials and enhanced styling, improved production efficiency and quality of workmanship, and taking a conservative approach to financing operations in order to keep …show more content…
My strategy to maintain reasonable prices was to invest in best practices training and offer higher base wages and incentive pay to employees in order to increase the number of pairs produced per employee and reduce the number of rejected pairs, thereby reducing the production costs per pair.

Secondly, the financial strategy of reducing production costs and taking a conservative approach to financing operations was based on improving profit margins and managing risks. Therefore, my strategy to reduce production costs and improve profit margins was to invest in best practices training and offer higher base wages and incentive pay to employees in order to increase the number of pairs produced per employee and reduce the number of rejected pairs, thereby reducing the production costs per pair. With lower production costs per pair, the company would be able to retain more of the revenue generated from sales resulting in an increased profit margin. My strategy to manage risks was to reduce the company's debt obligations by repaying loans early and not incurring any further debt unless absolutely necessary. To avoid further debt, the strategy was to maintain a cash flow sufficient to pay expenses as they came due without having to obtain short-term financing
Show More

Related Documents: Essay about Business Strategy Simulation Analysis

Midterm: Strategic Management Essay

discussion to practice application of such, and participation in a semester-long simulation that allows for learning by doing. Deliverables consist of writing assignments, decisions in the simulation and a culminating presentation describing results and lessons from it, as well as a midterm and final exam which will test understanding of material covered in lectures and the ability to relate these ideas through analysis of firms and personal experiences. Ideal strategic management comes from the…

Words 2183 - Pages 9

Mgmt1001 Assessment Task 2 Essay

------------------------------------------------- MGMT1001 Write a report reflecting on your experiences of the Everest group simulation exercise this semester with reference to concepts and theories encountered in this course ------------------------------------------------- MGMT1001 Write a report reflecting on your experiences of the Everest group simulation exercise this semester with reference to concepts and theories encountered in this course Assessment 2 – Report – 30% of final mark…

Words 3859 - Pages 16

Global Challenge Simulation Paper

A strategy is a key component when being successful. It is choices a firm will make when achieving a position. In this global challenge simulation each team had to make choices to stay on top or even to stay relevant in the game. Each team strived for a winning strategy and with this simulation, lessons were learned in regard to crafting a winning strategy. The first lesson learned was that forecasting decisions is a major factor when creating a strategy. This simulation was based on forecasting…

Words 1299 - Pages 6

Essay about Decision Making and Market Place

SKCA SYSTEMS Report For The Simulation Quarter 1: Karthik Poonuri Accomplishments/ Contributions: Grade: Sales Management & Leadership Organizing the team for regular discussions and allotting common time to work on simulation. Making Sales decisions and strategies. Selecting team norms for decision-making process. Learning: Learning how to use simulation. Learning about roles and responsibilities of a leader in the team. Learning how to choose sales strategy to support decisions. Barriers:…

Words 498 - Pages 2

The Case of Chase Manhattan Bank Essay

includes process improvement, process reengineering, business reengineering and transformation. The case of Chase Manhattan Bank belongs to the process reengineering, not process improvement or quick hits. In Chase Manhattan Bank, reengineering requires not only the rethinking of the business process but a concurrent examination and redesign of the information technologies and organization that support these processes. The Scope also includes entire business enterprise, entire delivery system, one functional…

Words 1516 - Pages 7

Essay about Group Distribution

Introduction In the studying of the Business Capstone, I have learnt how to apply my business knowledge within a real competitive business environment. Throughout the course, I have improved my professional skills in market positioning analysis and financial analysis as well as the skill in business communication. First of all, the reflections paper is the report of my collaboration and contribution as well as team interactions. Secondly, the reflections paper will show my strengths and weakness…

Words 1279 - Pages 6

Operations Management Essay

Graduate Student Project: Employer Operations Management Analysis LYNN A. FISH CANISIUS COLLEGE BUFFALO, NEW YORK ABSTRACT. Part-time graduate students at an Association to Advance Collegiate Schools of Business–accredited college complete a unique project by applying operations management concepts to their current employer. More than 92% of 368 graduates indicated that this experiential project was a positive learning experience, and results show a positive impact on content learning…

Words 8555 - Pages 35

Explain All Aspects Of Your Decisions To Build The Initial Computer Brands

RJCT2 Task 2 June 2013 A1: Explain all aspects of your decisions to build the initial computer brands. The selection made in initial products to manufacture were a result of analyzing the marketing research for the potential wants and needs of the customer, as well as the potential demand for collection of these wants and needs into individual products. The Customer needs and wants research in personal computers indicated three main types of computers rated the highest in demand, and…

Words 4055 - Pages 17

Universal Car Rental Pricing Simulation (Havard Busines School Pricing Simulations) Essay

Havard Business SCHOOL PAPER: Universal Car Rental Pricing Simulation July 2012 Universal Car Rental Pricing Simulation Background: The objective of the simulation was to maximise profits of Universal Car Rental Company. The simulation was run across three cities in Florida; Tampa, Orlando and Miami. Overall strategy: We adopted a strategy of offering the highest price achievable whilst maintaining 100% capacity utilisation irrespective of market share. In the context of the scenario…

Words 1238 - Pages 5

Performance Management Framework Essay

Performance Management Framework Kari Stormoen HRM/531 August 5, 2013 Tiffany Mytty-Klein Performance Management Framework Mr. Stonefield is starting his own business in Austin, Texas, called Landslide Limousine Service. One of the fundamental elements to building this new business venture is creating a framework for performance management. The framework must include necessary employee job skills, the methods used for measuring these skills, the process for addressing skill gaps, and the…

Words 1027 - Pages 5