In almost all the parts of the world I have been through, across the 7 continents, transportation facilities is an issue. There are very many forms of modes of transportation. This happened to be and will still be of high concern to particular society in an effort to build-up their economies and improve their livelihood.
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I and my friends were given the tasks of managing firms which had to run the motor vehicle manufacturing companies in the StratSim industry. When we started, there has been 7 firms which were supposed to compete so as to make more income is achieved, big market share and maximise shareholder return. To achieve the objectives mentioned earlier, each had to make the best strategies which will make them reach the intended goals together as a team. Almost in every category, such as marketing, pricing, production, selling & distribution and further developments a set of clear of strategies are needed so as to lead any firm in the right direction. Therefore, Strategy is defined as, ‘The action steps by which an organization intends to attain its strategic goals.’ (Daft, 2000: pg.210) Good about this, from my point of view, there wasn’t any kind of favours from the start of the game due to the reason that all the 7 firms had been positioned at the same levels of finances, market share, market value and all other items. During the course of the game, the smart group will stand on top by considering its performance in general.
(A full copy of the results can be found in the Appendix) The final year simulation results were as follows:
Sales for the year: $19.03 billion Market value: $1.14 billion Sales in units: 1.16 million Return on sales: -33.6% Net income: $-6.4 billion Return on assets: -19.0% Cumulative net income: $-1 trillion Debt: $4.16 trillion Stock price: $2.28 million Ending Cash: $638 million Firm C was performing poorly with negative incomes which prove that it was having full of debts to cover to its various stakeholders. Poor returns on sales and assets were noted. It wasn’t really at success but problems.
To begin, let define the term strategy. ‘Strategy is the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations.’ (Johnson et al 2009, p.3) Strategic thinking from my understanding is concerned with knowing the intentions of a firm and trying hard to make sure how and when they are going to be met. Henceforth, to make this happen, a firm should come with a mission statement that addresses to its stakeholders its reason of existence and a vision statement that tells straight-away the future plans of such a firm.
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