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MANAGING STRATEGY 18 Running Head: Business Strategy

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Added on  2020-04-13

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The main objectives of this particular report is to critically analyze different events or sequence of events that follow under business simulation game as a reflection report. The main items to be considered in the reflection report include competitive strategy, industry overview, company overview, decision making, analysis of final results, reflection of these results, analysis of underlying strategic principles and key learning points about strategy. For the analysis of competitive strategy, the main consideration is mechanism applied by B-Company so as to achieve competitive advantage in the

MANAGING STRATEGY 18 Running Head: Business Strategy

   Added on 2020-04-13

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Running Head: MANAGING STRATEGY1MANAGING STRATEGYName:Institution:Course Code:
MANAGING STRATEGY 18 Running Head: Business Strategy_1
MANAGING STRATEGY2Table of ContentsIntroduction.................................................................................................................................................2Competitive strategy...................................................................................................................................3Industry overview........................................................................................................................................4Company overview......................................................................................................................................5Decision made.............................................................................................................................................7Final results...............................................................................................................................................12Reflection..................................................................................................................................................12Underlying strategic principles..................................................................................................................12Key learning points about strategy............................................................................................................12Conclusion.................................................................................................................................................13References.................................................................................................................................................14Appendix...................................................................................................................................................16
MANAGING STRATEGY 18 Running Head: Business Strategy_2
MANAGING STRATEGY3Introduction.The main objectives of this particular report is to critically analyze different events or sequence of events that follow under business simulation game as a reflection report. The main items to be considered in the reflection report include competitive strategy, industry overview, company overview, decision making, analysis of final results, reflection of these results, analysis of underlying strategic principles and key learning points about strategy. Finally, all these events will be summarized so as to generate a conclusive reflection report. For the analysis of competitive strategy, the main consideration is mechanism applied by B-Company so as to achieve competitive advantage in the market (Arnold, 2010). What the company have done alongwith what need to be done so as to outdo the competitors. In order to determine whether the company has achieved competitive advantage in the market, various ratios can be considered such as earning per share, return on equity, operating profit margin, net profit margin, operating ratios, credit rating ratios along with other financial ratio measures. In addition, the overview of the industry under consideration involve analysis of macro environment based on PESTEL model and SWOT analysis. In that case, we will be in clear and distinct position to determine the strengths weaknesses, opportunities and threats facing our B-Company. Another event to be considered is company overview. This section involves initiation of missions and visions of the company. We also consider the type of company based on products and services to be offer to consumers and potential customers (Arnold, 2010). In that case, a market structure need to be determined so as to lay down specific strategies to achieve competitive advantage. By assessing all those requirements, we will be in a position to determinestrengths and weaknesses of the company and what the company can potentially achieve in the long run. Another aspect is strategic principles along with key learning points about those strategic principles. Aspects to be considered in strategic principles will include strategic management, strategic visioning and strategic thinking.I believe if all the above sequence of events are to be analyzed critically, then the business simulation game reflection report will be on significant use to B-Company.
MANAGING STRATEGY 18 Running Head: Business Strategy_3
MANAGING STRATEGY4Competitive strategy.In a marketplace, a company need to lay down strategies that can be incorporated and integrated with other aspect of business operations so as to offer positive progress in business growth and development. In that connection, we find out that different companies aim at laying out strategiesto outdo their competitors. In a perfect market structure, the level of competition is quite high although there are large number of buyers and sellers of goods and service (Arnold, 2010). In a monopoly market structure, the level of competition is reduced. From business simulation game, the type of structure in terms of market is not monopoly but a perfect market structure. In that case, the business need strong business and profit oriented strategies o as to outdo the competitors. In the long run, the company will be able to achieve competitive advantage.One of competitive strategy to be considered relate to products and services offered by the company. There is need to incorporate focal innovations which can be primarily categorized into product innovation, process innovation, marketing innovation and organizational innovation. Thefocal innovation will assist the company to improve the four critical aspects underlying the company (Clardy, 2013). In product innovation, the company need to advance the products in terms of product management, product design, product promotion and pricing. These aspects are likely to attract many consumers and potential customers into an advantage to the company. Process innovation involves improvement in production process in terms of instrument and machinery. Marketing innovation involves venturing into wider markets to recruit more future customers. These aspects will facilitate business growth and will pave way to achieving competitive advantage.Another competitive strategy applicable to B-Company is mergers, acquisition and amalgamation. These processes involves identification of smaller business operating in similar capacity as B-Company. In that case, the company may decide to absorb them so as to operate asa single entity (Clardy, 2013). In that case, the company will reduce competition by creation of mergers, amalgamation and acquisition enterprises. All the consumers and potential customers are redirected to a common pool. This create a form of monopoly making the company to achieve competitive advantage.
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