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Course Intro & Overview

This course provides an introduction and overview of the Marketing Management Simulation program offered by the University of Alaska-Anchorage's College of Business & Public Policy. The simulation allows students to experience key dimensions of strategic thinking in a business setting.

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Course Intro & Overview

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  1. University of Alaska-Anchorage * College of Business & Public Policy * Marketing Management Simulation* Course Intro & Overview

  2. Professor Ed Forrest • Telephone: (cell) 854-8784 • Email: ejforrest@ uaa.alaska.edu

  3. Intro & Overview of Course • Preliminary Situation Analysis • Organize Companies/ Register w/ Capstone • Select Competitive Strategy • Take theDr. F Management Pledge • Preview your Balanced Scorecard

  4. Your“study” of business … piece-meal & in isolation!

  5. Marketing R&D HR Production Finance

  6. Lecture-Learning

  7. If you want Lectures: • Foundations of Business Strategy • Coursera

  8. Learning & Retention 5% 75+%

  9. THE CAPSTONE SIMULATION Most widely used Business – Simulation Program in the World • Adopted by major Fortune500 companies ..General Motors, General Electric, Honeywell, Dell, John Deere, Citibank, Alcoa, BP, Allstate, Samsung, Goldman Sachs, Microsoft…

  10. Simulation proffers you opportunity to experience every key dimension of strategic thinking developed to date: Strategic Thinkingthe ten big ideas

  11. Economic Environment • Moderate growth, Low inflation, Averaged interest rates • No outside competitors or product substitutes • No economic downturns or other surprises ...

  12. Sim designed this way for one reason: Whatever happens will be result of your-tactical execution of strategies… not by external factors!

  13. You Da’ Boss …run a $100M business ….

  14. Your Product Line: SENSORS:

  15. YOUR JOB: • Make every decision • In every Functional Domain • to create, produce & successfully market your products…

  16. …success contingent on strategic integration of decisions across all domains:

  17. You will Compete against other members of this class –running 5 other Corp’s …. • Andrews • Baldwin • Chester • Digby • Erie • Ferris

  18. Plus-- You will Compete Against Everyone Else in the World ...your decisions & performancewill be compared against 1000+ other teams competing at other universities… around the world

  19. & How –to date--have we fared in this World-Wide Competition??

  20. #1 Fall 2014

  21. #1 Fall 2014

  22. #1 Fall 2014

  23. Your Industry C65757 was ranked:with 1057 Capstone teamscompleting round 8 - by Nov 21, 2014

  24. OVERALL “Top 10” RECORD : • Spring : 2001- 5th Profit • Spring : 2003- 9th Cum Profit • Fall : 2005- 1st Profit • Spring : 2006- 5thCum Profit & 8th Profit • Spring : 2007- 3rd Profit • Fall : 2009- 1stCum Profit & Stock Price • Spring : 2010- 9th Asset Turnover; 1st, 6th & 8th ROE • Fall : 2010- 6th Cum Profit • Spring :2011- 3rd & 9th ROE; 8th ROS;  9th Cum Profit • Fall : 2013- 4 in & # 10 in profit  #5 in Stock Price  #6 in ROE  #3 & #7 in ROA   #8 in Asset Turnover

  25. You are now theCaptain… ... How’s your Company doing?

  26. Intro & Overview of Course • Preliminary Situation Analysis • Organize Companies/ Register w/ Capstone • Select Competitive Strategy • Take theDr. F Management Pledge • Preview your Balanced Scorecard

  27. CapSim > Getting Started:

  28. The Capstone Courier

  29. Strategic Planning

  30. Forces you to make choices on what you will & won’t do

  31. Separation of Strategic Planning & Marketing Implementation Very Much Strategic Planning • Commitment • Understanding • Responsibility Time Spent Strategy Implementation Very Little Chief Executive Officer Mid-level Managers Customer Contact

  32. The Result: • Only 5% of workforce aware of “the” strategy • Only 25% of managers have incentives linked to strategy • 60% of organizations don't link budgets & strategy • 85% of executive teams spend <1 hour/ month discussing strategy • 90% fail to execute strategy successfully Robert S. Kaplan and David P. Norton The Strategy-Focused Organization,

  33. BUSINESS PLAN Answers 3 Critical Q’s: 1.Where are we now? 2.Where do we want to go 3.How do we get there? = Situation Analysis

  34. Org. goals & objectives encapsulated in Mission & Vision Statements: Answers Question # 2: 2. Where do we want to go? • What business(es) should be in • Market positions to stake out? • Consumer needs & segments serve? • Outcomes to achieve?

  35. Final Question answered by Strategic Planning: 1.Where are we now? 2.Where do we want to go? 3.How do we get there? *Growth, Competitive & Functional Strategies

  36. Situation/SWOT Analysis Strategic Planning Functional Integration Performance Assessment • Company • Consumers • Competitors • Conditions • PEST Functional Integration • Profits • Mrkt Share • ROA • ROS • ROE • Asset T/O • Stock • Mrkt Cap Marketing Growth &Competitive Strategies R&D Production HR Finance The Big Picture

  37. Intro & Overview of Course • Preliminary Situation Analysis • Organize Companies/ Register w/ Capstone • Select Competitive Strategy • Take theDr. F Management Pledge • Preview your Balanced Scorecard

  38. 1stOrganize Companies Register @ http://ww2.capsim.com/login/

  39. Strategic Thinking- the ten big ideas Prof Thomas/ Penn St. able to predict final standings w/in 1 place 90% of time –after observing initial group interaction... • 7. Corporate culture & • 8. Leadership craft... • Leaders responsible for assuring strategy links values & vision ...

  40. Intro & Overview of Course • Preliminary Situation Analysis • Organize Companies/ Register w/ Capstone • Select Competitive Strategy • Take theDr. F Management Pledge • Preview your Balanced Scorecard

  41. Cost: Design, produce, market more efficiently than competitors You can Formulate Strategy based on what Competitive advantage you focuson: Differentiation: Deliver unique & superior value in terms of product quality, features, service

  42. You can also Formulate Strategy by:Competitive Scope/ MARKET FOCUSNumber & Nature of segments compete w/in-

  43. & You can also Formulate Strategy by-Riding a Products Life Cycle • Adjust Marketing Mix according to natural Drift of products w/in segments-

  44. Put them all together &… • Cost/Quality Differentiation • Number & nature of segments compete w/in • Riding the Product Life Cycle

  45. Competitive Strategy Matrix Number & nature of segments compete w/in Ride Product LifeCycle #2 #3 Compete on: Broad Market Niche Mrkt Evolving Mrkt Cost #1 Product Quality

  46. Competitive Strategy Matrix Broad Mrkt Niche Mrkt Evolving Mrkt Compete on: Cost Product Quality

  47. Strategic Thinking- the ten big ideas 6. Resource allocation models – • Porter: strategic choices are set of basic generic strategies • (low cost, differentiation, market focus)

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