STRATEGIC MANAGEMENT PROCESS/VISION, MISSION, GOALS AND OBJECTIVES

Discussion 1
April 3, 2021
it management
April 3, 2021

STRATEGIC MANAGEMENT PROCESS/VISION, MISSION, GOALS AND OBJECTIVES

Simulation

To begin the MGT599 SLP sequence, you first need to first run
the simulation using the Default Decisions. In other words, use the prices and
R&D percentages that are already there (do not change any decisions made by
Joe Thomas).

Capture or collect the results for each product (W1, W2, and W3)
for each year that you run the simulation. Copy (using Excel, by hand, or some
other method) the financial results and marketing results, as well as the
information provided by your Advisor.

REQUIRED READING:

Read the following scenario carefully before you proceed:

SCENARIO

It is December 31, 2016. Joe Thomas, the VP of Marketing at the
Wonder Company, is smugly patting himself on the back for how well he has done
with pricing and product development of the three company products: W1, W2, and
W3. Of course, Joe knows his strategy was not creative at all (i.e., he did not
change any prices or R&D allocations over the past five-year period: 2012
through 2016). But he is certain that he really did not need to change anything
anyway, and that his overall performance is proof of his good work.

Sally Smothers, the CEO of Wonder Co., knows better, and she
fires Joe (but why did she wait so long?).

On the same day Joe is fired, you are hired to replace him. And
so…here you are, on December 31, 2016, as the new V.P. of Marketing of the
Wonder Company. You are ready to move the company ahead into 2017. Your boss,
Sally Smothers, expects you to make intelligent and informed product
development and pricing decisions (after all, you are an MBA).

Session Long Project

Write a 6- to 7-page paper (not including cover and reference
pages), using Sally’s instructions, which follow:

Sally asks you to review Joe’s decisions from 2013 through 2016
to see what was going on in terms of product development, sales, pricing, and
performance. Your final report is due on Sally’s desk by January 15, 2017 – you
have only 2 weeks to run the simulation, analyze your results, and write up the
report, so you had best get started on this now!

Using the default decisions (i.e., make no changes within the
simulation), analyze Joe Thomas’s decisions and results, and then write the
report that Sally is requesting. Access the Wonder Company simulation and collect the data for each year. Determine where you believe
Joe went wrong, and propose a new strategy. Support your revised strategy using
financial analysis and relevant business theories.

KEYS TO THE ASSIGNMENT:

The key aspects to this assignment that are required to be
covered in your paper include:

  1. A review of each
    product – W1, W2, and W3 – its life cycle, and how each product stacks up in
    terms of price and performance.
  2. Financial review of
    each product – W1, W2, and W3 – sales, costs, profitability, prices, unit
    margins, etc.
  3. Market review: New
    Sales, Repeat Sales, Market Saturation, etc.
  4. Propose an alternate
    strategy: A general idea of how you might do better with these products: what
    pricing and R&D allocations, etc., you would have put in place over the
    last four years, 2013 – 2016. In short, what would you have done differently
    than Joe Thomas at each decision point? Be specific.

SLP Assignment
Expectations

Your paper will be evaluated using the grading rubric.

TIPS AND SUGGESTIONS:

Please note the following tips and suggestions:

  • Include a cover page
    and reference page, in addition to the 6-7 pages of written
    analysis described above.
  • Use section headings
    as appropriate. Use graphs, charts, or figures strategically – but do
    not
     use these as “space fillers.” Include large tables
    or graphics in an Appendix instead.
  • Cite and reference all
    sources that you use in your work, including those that you paraphrase. This
    means include citations and quotation marks for direct quotes, and citations
    for that information which you have “borrowed” or paraphrased from
    other sources.
  • Follow TUI Guidelines for well-written papers.

NOTE: Throughout the
SLP sequence, you will be asked to make business decisions under conditions of
incomplete information and uncertainty. To do so effectively, you will need to
make assumptions based on what you have learned throughout the MBA program as
it relates to the ways in which markets operate. To this extent, you need to
rely on models, financial analysis, and theories from such classes as
Organization Behavior, Economics, Finance, Accounting, and Marketing. In
addition, the simulation will give you some additional market information as
you progress.

Be sure that you draw explicitly on concepts and theories from
the courses you have taken throughout the MBA program. That means you must
“think like an MBA” and use the various data you are given. You will
have to crunch the numbers and present your data
analysis professionally by creating some simple tables, charts, and graphs.

 

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