My Study Of Strategic Management Course At Flinders University
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As a Master of Business Administration student, I have to learn efficient strategy management tools. During my study of Strategic Management course at Flinders University (BUSN9261), I have learned about balanced scorecard which is a useful tool in term of prediction business strategy outcomes by measuring the business performance. As a part of my learning process I have to play a role in a simulation game about the balanced scorecard. This simulation game has been provided by Harvard Business School in order to allow students to use a scorecard through examining a real firm strategy and monitoring its performance over the time.
In order to prepare for the simulation, the first thing I did was to read the Delta/Sigma Crop case study and some instructions documents such as, How To Play and Guide To Case Study. As a team we met up to discuss the firm current situation to select one strategy among the three proposed strategies and based on the current situation of the firm we decided to go with the Low Lifetime strategy which does not need more investments and we think it meet the firm strategic priorities. Then we started preparing a strategy map to select the objectives that matched our selected strategy. We carefully selected the most important objectives, matching them with their related initiatives. Actually, we took into account two things; the number of objectives which should be less than 15 and the whole budget of 25 million for each period. We then started the simulation.
In the simulation we implemented our strategy map. There were two roles, data entry and data analyst. As a data analyst I kept in mind monitoring financial and non-financial metrics in the Metric Dashboard. At the first period we faced issues with two...
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...y performance success gave me hope for my future life in business.
One of the biggest challenges facing our team during this exercise was about how we comprehend all the data and information that were supplied in Delta/Sigma Crop case study. Choosing one of the three strategies was difficult because each one had advantages and disadvantages. We overcame this as a team by discussing the positive and negatives of each strategy and choosing the one that we thought had the most advantages.
In conclusion, this game simulation was interesting to me it provides an overview of how we can build affected strategic management tools. It has provided me with tools that I can use them in my future working life. Using the simulation game has improved my learning process and provided me with real experience in implementing strategies and good understanding of scorecard approach.