Ld0474 Strategic Management For Assessment Answer

Question:

You will participate in a business simulation exercise (“Business Simulation”) based on the European Car Industry.  The purpose of the exercise is to give you the opportunity to use the learning from the four functional areas (marketing, finance, human resources and operations management) to simulate the setting up and running of a business which is competing for market share.

In Week 5, you will attend an introductory lecture which will explain the objectives of the simulation and the process for making decisions.  In the Busines Simulation seminars, you will be divided into teams of 5-6 students.  Each team has to set up a car manufacturing company, design two cars and sell these to the market.  The teams within each seminar group will compete with one another for market share.  The objective for each team is to maximise the shareholder value of their company at the end of four decision rounds.

1.Peer assessment form with the names and signatures of all team members (see final page of this brief).  [10%]

2.The team’s business plan for Round 1 (word limit 1,500 words) as follows: [60%]

e.The rationale underlying the choices of designs, options and R&D

f.The rationale for the prices charged for each car

1.Front page, with your name, ID, Seminar Group number, Team number and word count.

2.Contents (with page numbers)

Guidance: For each of the decisions, explain how you made the decisions during the game.  Looking back, discuss how you could have made better decisions by making better use of the material taught during the semester, particularly how the functions integrate and how the decisions act in the best interest of the individuals, groups or organisations affected.

Include citations within the text to refer to relevant readings covered in class.

1. Demonstrate awareness of personal strengths and weaknesses and the ability to engage in continuing self-development.

2. Demonstrate the development of inter-personal and intra-personal skills.

3. Understand the wider impact of individual or organisational decision making on social and environmental contexts.

Goal Three: Have developed leadership and management capability

2. Demonstrate an understanding of the impact of innovative and contemporary research on the business and management community.

3. Acquire, interpret and apply specialist functional knowledge in relation to their programme of study (specialist programmes only).