How the business simulation will contribute to development

Assignment Help Operation Management

Reference no: EM131188103

The ability to think strategically is a critical element for any organization to compete successfully and build the necessary competitive advantage needed for sustained superior performance. Managers and business leaders will be asked to make critical business decisions that will determine the future of the organization.

Discuss how the business simulation will contribute to the development of these skills. (This is focused on strategic management)

Some points: Deepen your understanding of revenue-cost-profit relationships and build your confidence in utilizing the information contained in company financial statements and operating reports. You’ll see why you cannot hope to understand a company’s business and make prudent decisions without full command of the numbers—it won’t take you long to appreciate why shooting from

Just as in sports where it is customary for every team to scout its next opponent thoroughly and develop a game plan to defeat them, you will need to scout the strategies of rivals, try to judge what they will do next, and come up with a competitive strategy of your own aimed at “defeating” their strategies and boosting your company’s performance.

What value can a new employee with the ability to think strategically bring to an organization? How do you intend to develop these skills over the length of the class?

Reference no: EM131188103

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