What is StratSim Management?
Strategic management is at the core of all decisions made in StratSimManagement. Students start by conducting environmental analysis before articulating the vision and mission of the organization. They must manage short- and long-term objectives, making integrated decisions that affect all areas of the business. Teams compete directly against each other with the results being dependent upon how the competitors interact, what new products are introduced, and how these products are supported.
StratSimManagement is built on the StratSim methodology used by thousands of students since the mid-1990s. This version of StratSim (StratSimManagement) - with its focus on strategy and international business - is an excellent complement to traditional teaching methods, allowing students to apply strategic planning concepts in a dynamic, integrative environment.
A group of students takes over one of five companies competing in the domestic automobile industry. Some companies are positioned as high-end niche producers while others are more value and volume driven. Each company begins the simulation with three vehicles and then must decide how best to improve their performance and potentially enter new market segments that offer opportunities for growth. Optionally, students may source from or enter into international regions.
Much of the complexity of the automobile industry has been simplified to allow participants to focus their time and energy on strategic issues. However, we've retained as much realism as possible to make it easier to quickly understand the overall environment. StratSimManagement addresses the following issues:
- Developing a business definition and implementing a profitable long-term business strategy
- Identifying market opportunities and creating product/service offerings to satisfy them
- Analyzing competitors and understanding their strategic intent
- Creating the corporate infrastructure necessary to sustain growth
- Allocating scarce resources among products, functions, and other investment alternatives
- Exploring the options of marketing and sourcing internationally (optional)
- Performance measures
With StratSimManagement, instructors have a comprehensive set of metrics (45 in total) to judge team performance. In general, team performance can be judged on the following:
- Net Income and Cumulative Net Income
- Stock Price
- Total Shareholder Return
- Return on Equity, Return on Assets, Return on Marketing
- Earnings Per Share
- Market Share
- Return on Sales
- ... and more!
Any of the 45 measures areas can be weighted and combined by the instructor to form an overall score to evaluate team performance.
More information: http://www.interpretive.com/rd6/?pg=ssc4