Simulation Reflection

1936 Words8 Pages
This paper is a reflection on three simulations as each relates to strategic planning. The first simulation, “Thinking Strategically,” highlights the importance of environmental scanning. The second simulation, “Developing Grand Strategies,” challenged decisions made for a company which lead to effective strategy formulation and choices. The third simulation, “Creating a Strategic Road Map,” provided a simulated experience of how to build a strategic roadmap focusing on the importance and effectiveness of formulating action plans and goals. This reflective approach will convey the lessons learned relative to the importance and effectiveness of the key learning points obtained through each simulation. The challenges faced by strategic…show more content…
This simulation implies a one time evaluation suits the company, but as Sam Harrison states in his article about Finding Ideas that Make a Difference, "Never stop creating. Never stop exploring. Never stop appreciating," (Journal of Business Strategy, 2008). The second simulation, “Developing Grand Strategies,” was focused on the development of a grand strategy for a company. A lesson learned has been the ability to apply analytic tools and concepts to aid in the development of strategic planning. The toy company, Oz, was the third largest toy manufacturing company in the country. The company reported $3.5 billion in revenue. Industry reports viewed at Oz predicted that the sales curves were flattening. Oz decided to take a proactive approach to develop a grand strategy that was suitable to the industry reports. “Strategies, that involve adoption of new technologies, also have sweet spots. Connecting with the right strategy at the right time supported with the right resources will produce the best possible results,” (Oliver, 2002). Oz needs a proactive strategic response to an industry situation impacted by consolidation among manufacturers. Asian imports that have led to an influx of cheap toys and changes in trends such as the increasing purchase power of consumers. The appropriate Grand strategies need to be selected based on the firm’s quadrant
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