what was your team's initial strategy, and how did it evolve over the course of the simulation

Do you need a leadership team to implement a new strategy?

What was your team's initial strategy, and how did it evolve over the course of the simulation? What major change in the strategic approach would you make if you were able to replay the simulation? Why? What information did you not have that you thought was the biggest limitation on your ability to make better decisions? Why?

What is the first step in the strategic planning process?

Include the following information in this set of slides: What was your team's initial strategy, and how did it evolve over the course of the simulation? What major change in the strategic approach would you make if you were able to replay the simulation? Why? What information did you not have that you thought was the biggest limitation on your ...

What is the strategy implementation process?

How am I assessed? • From your market share (25% of assessment item or 10 marks) • Average of 70 with SD of 10 • No team gets less than 50 • From what you tell me you’ve learned (75% of assessment item or 30 marks) • Submit a 2000-word report • Questions: • What contributions did you make to your team? How did this evolve over the course of the simulation?

How do I implement a new strategy?

Feb 25, 2020 · 7 Key Steps in the Implementation Process. 1. Set Clear Goals and Define Key Variables. The first step of the process is straightforward: You must identify the goals that the new strategy should achieve. Without a clear picture of what you’re trying to attain, it can be difficult to establish a plan for getting there.

What is the first step in a strategy?

The first step of the process is straightforward: You must identify the goals that the new strategy should achieve. Without a clear picture of what you’re trying to attain, it can be difficult to establish a plan for getting there.

What is strategy implementation?

Strategy implementation is the process of turning plans into action to reach a desired outcome. Essentially, it’s the art of getting stuff done. The success of every organization rests on its capacity to implement decisions and execute key processes efficiently, effectively, and consistently.

How to implement strategic plans?

3. Delegate the Work.

What should you do once you have determined the goals you're working toward?

Once you’ve determined the goals you’re working toward and the variables that might get in your way, you should build a roadmap for achieving those goals, set expectations among your team, and clearly communicate your implementation plan, so there’s no confusion.

What is the most difficult skill to learn as a manager?

One of the most difficult skills to learn as a manager is how to guide and support employees effectively. While your focus will likely be on delegation much of the time, it’s important to make yourself available to answer questions your employees might have, or address challenges and roadblocks they may be experiencing.

What is implementation process?

Implementation is an iterative process, so the work doesn’t stop as soon as you think you’ve reached your goal. Processes can change mid-course, and unforeseen issues or challenges can arise. Sometimes, your original goals will need to shift as the nature of the project itself changes.

Is failure a goal?

While failure is never the goal , an unsuccessful or flawed strategy implementation can prove a valuable learning experience for an organization, so long as time is taken to understand what went wrong and why.

What are the questions to ask in a negotiation?

To devise one, negotiators should answer the following questions: 1 What business outcomes do we seek through this negotiation? 2 Who cares about those outcomes? 3 Who can do something to bring about those outcomes? 4 How can we engage, directly or indirectly, with parties that share some of our interest in achieving those outcomes?

Why is a customer at a disadvantage in a negotiation with an important supplier?

For example, a customer might perceive itself to be at a disadvantage in a negotiation with an important supplier because it represents only a small piece of that supplier’s overall business.

Why are high stakes negotiations so stressful?

High-stakes negotiations tend to produce a lot of anxiety. This leads dealmakers to focus on (perceived) threats rather than identify all possible forms of leverage and think expansively about options. When that happens, negotiators are more likely to make poor tactical choices, either giving in to pressure from the other side or inadvertently causing their own worst fears to come to pass.

What do dealmakers talk about in negotiations?

In high-stakes negotiations, dealmakers tend to talk about how much power and leverage the other side has, what the other side will or won’t agree to, and how to influence its behavior. While viewing counterparts as if they were one monolithic entity is convenient, that attitude regularly leads to analytical and strategic missteps. (In the realm of international diplomacy, negotiators have traditionally been somewhat more attuned to thinking about how to influence multiple constituencies when forging deals—be it with the Taliban or the old Soviet Union.)

Who is Jonathan Hughes?

Jonathan Hughes is a partner at Vantage Partners, a global consultancy specializing in strategic partnerships and complex negotiations. Danny Ertel is a partner at Vantage Partners, a global consultancy specializing in strategic partnerships and complex negotiations. Read more on Negotiations or related topic Strategic thinking.

What is strategic approach in negotiations?

A strategic approach requires considering success beyond the current deal and, in particular, how the precedents it sets will create anchors and shape dynamics in future negotiations. After all, except with pure sales and purchases of assets, most high-stakes business negotiations are repeat transactions undertaken in the context of long-term relationships.

Breathe life into your strategy in four easy steps

Ted, Founder and Managing Partner at ClearPoint, has over 25 years of experience working with organizations to improve their performance management and strategy execution processes.

1. Assign accountability

Someone needs to be responsible for every piece of your strategy. Strategy execution should be directly connected to an employee’s job responsibilities so he or she feels a sense of ownership. That being said, one person should not be solely responsible for meeting the overall strategy.

2. Break down your targets

This is a critical step that cannot be overlooked.

3. Consider where your funds are allocated

To ensure your new strategy is successfully implemented, you need to invest in your strategy. You’ll want to take a close at where you spend your resources and make sure that you’re allocating the proper funds to your strategy.

4. Get backing from the leadership team

Getting any process up and running is nearly always met with resistance, simply because people don’t like change. Keep in mind that an individual can run through the first few steps in this process and mechanically design the new strategy without significant involvement from the leadership team.

Environmental and Internal Analysis

Microcomputers are used in a wide variation of industries and applications and are in continuous need of modifications in order to meet consumer demands. The consumers usually like to purchase microcomputers that are easy to use, low priced, and designed with office applications included, especially in the Workhorse Market.

Startup

In the beginning of this simulation, each of the companies in the microcomputer industry was on an even keel. Each of the companies competing in the microcomputer business market was given the same amount of startup capital to be used as we saw fit. Most of MicroComp’s startup capital was used in similar aspects as the other five teams.

Quarter 1

Quarter 1 is where things became a little more interesting. This is because we had a lot of work that had to be done. We hired a President to oversee the business and make strategic decisions. Working with human resources, we established a compensation plan for sales.

Quarter 2

Quarter 2 we got off to a good start. We focused on two target markets (Workhorse and Travelers) and had two brands available for sale. Those two brands, the Desktop Dynamo and the ASAP Tablet, seemed to be doing well. We had reasonable pricing and a decent amount of advertising.

Quarter 3

At the beginning of Quarter 3, we focused on making modifications that would improve our position in the competition.

Quarter 4

During Quarter 4, we came out full speed ahead. We were more focused and determined than ever. We put our revisions into play and patiently waited to see the end results. Our revisions included several things that we felt were necessary to bounce back.

Quarter 5

During Quarter 5 began great for us. We continued to review our data and we noticed an issue that needed some minor revisions in order for us to remain in the lead. This issue was with production. After reviewing the numbers we decided to stop production and sells on the Dynamo 100 and the ASAP + due to a large decrease in the number of sales.