Emily Cassidy, Micheca Fevrius, Xinyi Cui, & Baoning Wang
Firm A Throughout the course of this simulation, we learned that implementing and executing a strategy is crucial in establishing and maintaining a competitive advantage. Our external analysis at the beginning of the simulation proved to be inadequate - we did not take into consideration all of the possible threats and opportunities, and as a result, were not prepared to react to the sudden changes in the simulation and did not adequately meet the needs of the consumer market. Performance Changes
Firm A’s performance remained fairly consistent throughout the simulation. Periods 1-5 were more successful, and periods 6-9 less successful. Our relatively average performance may be…show more content… As represented in Figure 3: Market Share by Firm, by period 8, Firm D possessed approximately 48.1% market share. As Firm D became more successful, we found ourselves unable to compete strategically and saw declines in our market share each year, as Firm D’s rose. At the conclusion year 9, we had the second highest market share (17.8%), which does not even constitute half of Firm D’s 46.9% share. Since we started the simulation with the highest market share, this steady decline can be seen as an indicator that we were not successful in competing strategically.
When analyzing Figure 4: Firm Preference, the nearly horizontal trendline indicates that our firm preference remained fairly consistent throughout the simulation, after taking any increases or decreases into account. The absence of an upward sloping trendline also indicates that we did not successfully meet the needs and wants of the consumer market throughout the simulation.
Strategies and Strategic Changes
When beginning the simulation, we never discussed or adopted a specific strategy, which ultimately hurt us in our efforts to compete with the other firms. Because we never established a core competency or competitive advantage, we found it difficult to create an effective strategy. Looking back, we most likely were implementing an integrated cost leadership/differentiation strategy. Our team was