Strategic Formalization Simulation

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Introduction

During our six-month simulation as head human resource personals of a culinary arts company, our group learnt many important lessons necessary in running a smooth company. We were able to formulate strategies and goals prior to the game. This gave us a clear direction and allowed us to reflect on which areas we needed to target and regulate. As we implemented our strategies and started the decision-making process, we used our knowledge on decision relationships and responses, and trial and error to make our selections. Based on this we were able to grow in the industry as we raised in ranking. The following is an account of our Strategic Formalization, Decision-Making Process, and Reflection. Strategic Formalization
1.Why did you make your certain decision?

Our group’s final goal was to achieve the lowest turnover rate in the industry as the cost of losing employees was really high. Therefore, reducing the employees’ turnover rate was an effective way to minimize the cost per unit of our company. During the formalization of our group we set some strategies to aid …show more content…
As a result, the end of the simulation dedicated a large portion of our budget dedicated to training. While training is incredibly important to the well being of all employees – people want to stay in companies where they are informed and safe – allocating such a large amount of money to training over the course of the simulation yielded diminishing returns. In this case, we would have seen more success if our original goal had been to become the safest company in the industry. Something we would have done differently to better achieve our original goal would be to allocate slightly less money overall to training in order to have more of our budget available to allocate to benefits
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