Back Bay Battery Strategic Simulation Analysis

BUSINESS POLICY ANDSTRATEGY

EXECUTIVE SUMMARYIn business policy and strategy process of Back Bay battery, online simulation permits to portraythe business unit manager’s role. In the process of R&D investment process, players have tomanage the process of the existing battery business, to the new investing business. The batterytechnology process must be understood, to know the market opportunities and to know theirnecessary improvements. The role played has challenging process for both new and maturebusiness. This case requires managing the investment simulation for eight years. The overallsimulation process can be played in 1.5 seat hours. The simulation process of the teaching notecontains teaching note. It includes the overview of simulation screens or elements. The learningobjectives of Back Bay battery online simulation contains steps like timing and level of R&Dinvestment, best opportunities of new products, using standard approaches for assessing theemerging market opportunities, organization impatience for growth and the financing criteria,and lastly the investing process of core business and innovation. These processes are challengingfor balancing the new requirements.

Table of ContentsEXECUTIVE SUMMARY.......................................................................................................................11.INTRODUCTION.............................................................................................................................32.BACK BAY BATTERY PERFORMANCE....................................................................................33.BACK BAY BATTERY SIMULATION.........................................................................................34.ONLINE SIMULATION..................................................................................................................55.CONCLUSION..................................................................................................................................5REFERENCES..........................................................................................................................................6

Running head: BUSINESS POLICY AND STRATEGY
Business policy and strategy
Name of student
Name of University
Author note

1BUSINESS POLICY AND STRATEGY
Personal reflection
It could be clearly understood that the topic is based on the business policies and
strategies and the strategic management model has been taken into consideration to develop
skills and knowledge for environmental scanning. The formulation of strategies have further
been associated with the accomplishment of mission, goals, objectives and successful
implementation of policies and strategies. I have understood that the strategic management
involves monitoring and evaluation of external opportunities and threats based on the
strengths and weaknesses, furthermore manage proper financial planning, forecast based
planning, external oriented planning and there are multiple individuals involved such as the
managers and employees. To become successful in the long run, a business must fulfil the
needs of existing markets and at the same time, adapt to the changing needs and preferences
of the markets (Wheelen et al., 2017). This should also create a perfect fit between the
organisational environment inclined with the structure, strategies and processes of the
organisation, thus leading to enhanced business performance too. The strategic management
has helped in identifying new opportunities for growth and development, enabled managers
to share common goals to be achieved and improved the financial performance too.
I have also understood that there are several challenges associated with the strategic
management such as the globalisation impact that has changed the entire way the companies
conduct business while environmental issues such as climatic changes and conditions are also
considered as major challenges faced during the management of strategies effectively. From
the sources of information, I have found that the basic model of strategic management
involves four major components including the scanning of environment, formulation of
strategies, implementation of strategies and managing valuation and control (DeYoung, Peng
& Yan, 2013).

2BUSINESS POLICY AND STRATEGY
There are various roles and responsibilities of BoD such as performing the legal and
duties and responsibilities for protecting the interests and enabling authority and power for
implementing effective corporate policies and manage the different kinds of resources
effectively and by forming agreement with the shareholders or investors. The responsibilities
though are different for different countries such as setting the corporate strategies, managing
shared vision, mission and goals, recruitment and selection of CEO and top management,
controll9ing the top management and also managing approval of resources along with the
fulfilment of interests of shareholders or investors. It is vital to plan in a strategic way for the
purpose of analysis, interpretation, creation and management of data and information
consistently for allowing the company to sustain and view things from a wider perspective
(Dodgson, 2018). This has benefited many businesses by focusing on marketing, finances,
operational and other functional areas for determining the market conditions and gaining
competitive advantage with higher revenue generation as well. I personally think that the
roles of BoD are based on the degree of involvement in strategic management ranging from
low to high including phantom, who never knows what is needed to be done and thus there is
little or no involvement while the rubber stamp allows the officers to make the most of
decisions. The minimal reviews mean reviewing the issues that are brought into attention
while the nominal participation includes reviewing the decisions to be made whereas the
active participation enables making the final decision and managing the fiscal and
management audits too (Blackburn, Hart & Wainwright, 2013). The catalyst means
something that enhances the business performance and thus the catalyst has helped in
developing the mission, goals and objectives along with implementation of relevant policies
and strategies needed to enhance the degree of involvement during the management of
strategies.