5232M_2014 Simulation Day 1 Final
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Transcript of 5232M_2014 Simulation Day 1 Final
Leeds University Business School
LUBS5232M
International Strategy simulationDay 1
Pekka Vahtera
7th May 2014
What it is
• An on-line business simulation game that develops your understanding of the complexity of global business operations in a dynamic competitive environment
• It integrates a range of concepts from various modules – however, with a focus on strategic management
Your task
• to manage a global firm involved in advertising industry through technological evolution in the fast-paced 21st century operating environment
• to design, analyse and implement strategies for their simulated company operating on global scale
Learning objectives
• Development and analysis of competitive strategies• Management and organisation of teams• Creative thinking and problem solving• Risk assessment• Balancing financial and non-financial performance
indicators• Ability to reflect on experience and apply learning into
other contexts
The rational Strategy process
Practicalities
• During each session– At least one Wi-Fi-enabled iPad / laptop per group, the more the
better– Check if smartphone works– Use laptops if possible– iPads can be little awkward at times– In using iPads, download Google Chrome as Safari is not supported– Chrome, Internet Explorer, and Firefox should all work fine
• If you face a problem try to open the simulation with Internet Explorer
– Enable pop-ups
Simulation assessment summary
Strategy simulation
(15% of module mark for LUBS5213)
Individual self-evaluation MSQ
(20%)
+
Individual self-evaluation MSQ
(20%)
Group presentation (20%)
+
Group presentation (20%)
Group’s final performance in the
simulation in comparison to
other groups (20%)
Presentation evaluation criteria
• (1) Presentation Structure• (2) Quality of introduction• (3) Persuasiveness of arguments/choices/conclusions• (4) Division of labour, effectiveness of group work and flow• (5) Use of visual aids• (6) Timing and time keeping [5 minutes]• (7) Content, ideas, and relevance• (8) Selection and quality of information• (9) Question fielding [if there is time for questions]
• All evaluated from Excellent, Very Good, Good, Acceptable, Poor
MCQ on today’s session
Purpose• Test your knowledge on relevant issues on Phase 1• Tests that you have successfully collected key information on various documents
affecting WRSX• Factors internal to the company effecting strategy and potential future profitability• External factors to the company effecting strategy and potential future profitability
How to access the MCQ• “Set A: Self-assessment questions”• I will open the access to this MCQ after lunch
MCQ• 10 questions• No time limit for answering the questions• To be completed by end of today (24:00)
Important note about MCQs
• If you use your iPads to complete them, you will need to send the results to me by email!
• Results completed via iPads do not leave a trace in the simulation system – hence, you will need to email them to [email protected]
How to register
• www.pearsoned.co.uk/TSE
How to register
• You will need an access code:• ISSTSE-CHILI-POIND-SPINA-ABBOT-WAXES
How to register
Logging into the simulation
Enrolling to a course
• Click “Enrol in a course” at the top right corner
• Input your course ID
Presentation Title runs here l 00/00/0022
ID: CRSKLT5-10002297
Now the LUBS5232M International Strategic Management should be available to you
Presentation Title runs here l 00/00/0023
When you are successfully registered and logged in, your screen should look something like this:
Presentation Title runs here l 00/00/0024
What if I forget my username/password?
What if I forget my username/password?
What if I have a technical question?
• http://247pearsoned.custhelp.com• What should I do first?
– Use the ‘Answer Wizard’ or search the Knowledge Base
• What if I can’t I still need help?– Ask Question via email
Timetable for today
Day 1 - 7th May - Simulation Phase 1• 09:00 Introduction to the simulation. Introduction to the task, expectations, criteria
for success and deadlines. Introduction to simulated company and its industry by working through the briefing page of the simulation (video, audio and text)
• 10:00 Understanding the Strategic Position – Part 1 Expectations & Purposes & the Environment Task: Teams are to develop a strategic analysis of the WRSX Group, its expectations, purposes and environment using relevant models and frameworks.
• 12:00 Lunch• 13:00 Understanding the Strategic Position - Part 2 Strategic Capability• Task: Teams are to develop a strategic analysis of the WRSX Group, its strategic
capabilities and competitive position using relevant models and frameworks.• 14:00 Presentation of findings to Instructor(s) in the role of Shareholders -
Presentation time: 5min/group• 14:00-15:30 Groups 1-13• 15:35-17:00 Groups 14-27• 17:00 End of day 1• [Remember to complete the MCQ on Phase 1 by the end of the day]
Mission for today
• Firstly, to understand the expectations and purposes of the business and its major stakeholders
• Secondly, you need to take a close look at the business environment in which WRSX operates
• and thirdly, you need to assess the strategic position of the WRSX Group so that you can evaluate the strategic choices open to the Group in phase two of the simulation.
What we will do today
1. Find your group members– Start thinking about a team/group name
2. We will listen together to Juliette Waldron, WRSX Group's Executive Chair, as she welcomes you to the WRSX Board
3. Next, we will watch the video briefing from your mentor who will explain how the simulation works and your tasks for this Briefing Phase of the simulation
What’s next
• TASK 1. Understanding the Strategic Position – Part 1 Expectations & Purposes & the Environment: Teams are to develop a strategic analysis of the WRSX Group, its expectations, purposes and environment using relevant models and frameworks
• After lunch• TASK 2. Understanding the Strategic Position - Part 2 Strategic
Capability: Teams are to develop a strategic analysis of the WRSX Group, its strategic capabilities and competitive position using relevant models and frameworks
• 14:00 Presentation of findings to Instructor(s) in the role of Shareholders
• Presentation time: 5min/group• 14:00-15:30 Groups 1-13• 15:35-17:00 Groups 14-27• 17:00 End of day 1
Remember to complete “Phase 1 – Assessment: Set A self-assessment questions” by the end of today!
First group presentation
Purpose
• Test your knowledge on relevant issues on Phase 1
• opportunity to justify your thinking on factors internal and external to the company effecting strategy and potential future profitability
• Improve your presentation skills in a situation which simulates real-life organizational meeting
Presentations
• 5 minutes/group
• One or more presenters – this is up to your group
• Use visuals
What to include
• Over view of what your group has done so far What are the expectations and purposes of the WRSX Group? What are the dynamics of the business environment in which the Group is competing? What are the strategic capabilities of the Group? What strategic frameworks, theories, ideas etc. have you applied for answering these questions? Justify your choice of frameworks, theories, ideas etc. Think about the implications: “what does this actually mean for the WRSX Group?'
Examples of useful frameworks
Organizational purpose
• Shareholder value vs stakeholder value• Porter (2011) creation of shared value
Organizational purpose
Levitt (1960) • What’s the customer need that we are trying to
satisfy?
Abell (1980)• Focus on customer needs• Who, what, how?
Montgomery (2008)• What makes a firm distinctive?
Hierarchy of Company Statements
• Organizational purpose Commonly communicated through different statements
Mission
Values
Vision
Strategy statement
Organizational purpose
Collins and Rukstad, 2008, “Can You Say What Your Strategy Is?” HBR
• Focus on employees• More practical and concrete
Statements of mission, vision, and value
What is the organization there to do that makes a difference, and to whom?
Mission statement• “Why we exist?” “How do we make a difference”• Information to stakeholders about overarching purpose of the firm• Often confused with strategic objective(s)
Value statement• “What we believe in”• Core principles underpinning operations
Vision statement• “What we want to be”• Desired future of the firm
Strategy statement
Could you summarize your firm’s strategy in less than 35 words?• If asked, would your colleagues articulate it in the same way?• Three critically important (seemingly simple!) parts
1. Objective(s)• specific• measurable• timeframe and end• single goal
2. Scope• Customer• Geography• Vertical integration
3. Advantage• Internal and external components
Strategy frameworks
• The Ashridge Mission Diamond – purpose, strategy, values, behaviour standards
Strategy frameworks
Strategy frameworks
Strategy frameworks
• Porter’s generic strategies– Cost leadership,
differentiation
(+cost focus & differentiation focus)
Strategy frameworks
Bowman’s strategy clock
Strategy frameworks
• Red ocean and blue ocean strategies
Strategy frameworks
Ansoff growth vector