NEC Simulated Business Growth Reports Summary

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Simulation Report 1 Simulation report 1 Generic Strategy As we reviewed in the text this week, product differentiation is one of the generic corporate strategies. The strategy aims to distinguish a company's products from those of competitors and involves identifying and communicating the unique qualities of a product or company and its competitors (Arshad, 2020). This strategy is linked to a strong value proposition that makes a product attractive to the target market. The target area for differentiation for AEV was safety. The product is designed to meet the maximum threshold on safety, which is four points out of the 5 potential points. The marketing and advertising efforts for the product focused on safety as the sole product differentiation strategy to the segmented targets. This strategy seeks to enable the company to refine the target audience and facilitate product customization to meet and exceed the demands of this market. It is a competitive advantage that would allow the brand to gain a competitive advantage in the market. Despite evolutions in business needs, the competitive advantage did not change from the week I. Safety withstands the most fundamental principles in designing an automobile, which explains consistency. It is among the critical selling points for automobiles, which means a unique competitive advantage for the company. Strategic Action Plan The strategic action plan going round detailed in Blackboard was to identify the industry performance regarding net incomes, stock prices, and the market share of different companies concerning the company in question. These factors relate directly to the overall strategy of product differentiation by supporting the location of a company's position relative to competitors in the industry. The process was ideal for identifying potential threats and opportunities that offer Simulation Report 2 a strong idea of the present and future scenario of the industry (Wei et al., 2022). This resulted in identifying specific attributes in the industry: product quality, safety, interior design, and styling. Other notable competitive advantages include horsepower and the size and class of an automobile. One of the specific, measurable goals for the move was to identify the income dollar value for the players in the three years. The other goal was to the trends in stock prices for the industry players. I made operationally reactive moves unrelated to the strategy to create a comprehensive picture of the industry before re-launching the new product with improved safety standards. For example, I evaluated the manufacturing for the industry players like Eurom Estruck and Efizz. The review involved previous sales records, current inventory, and scheduled production. The information is necessary for scheduling the product's production costs to include the safety standards. Fact-Based Results The next set of objectives and measurable moves that will be considered are the specifics of implementing the differentiation strategy. Most of the information necessary, like the industry performance and market trends, is already at hand. The next big thing would be focusing on issues related to safety standards as the targeted differentiation strategy (Wei et al., 2022). For example, the next move should consider the cost of developing products that meet the maximum safety scores, which is four points for AEV. The consideration should also include the cost of constructing a new center, opening and closing a dealership, and all other overhead estimates. I wish to suggest production costs for different AEV categories based on class. An example includes the cost of improving the safety standards and the attached dollar value. Another suggestion to the partners in the next week’s moves is the cost of marketing the improved Simulation Report 3 product. The suggestion is necessary for determining the benefits of emphasizing differentiation strategy as the competitive advantage for the product. Lessons from the Course My greatest lesson from this lesson is to create a bigger mental picture in solving complex problems. The activity is designed to support a holistic understanding of diverse business disciplines by bringing together different departments like production, marketing, and finance. The approach allows learners to envision the relationship between departments and how their decisions influence the bottom line performance (Barnaby et al., 2020). This enabled me to illustrate theoretical business concepts better. It offers diverse ways to introduce practical elements like board games, case studies, and internships. The simulation activity offered an interactive and dynamic learning environment that enabled me to learn during the process and test my mettle against peers regardless of location and time. The process allowed me to learn from my mistakes by experimenting freely with various business strategies without cost repercussions. This allowed me to pay close attention to the likely development of the market in which my target brand operates and explore innovative means for managing competition. In this case, the intervention was deploying market differentiation. The activities from this lesson are superior to other learning processes since they have a wide potential for connecting the outcomes to interdependent subjects in many ways. This value is instrumental in my course and career by allowing me to gain first-hand experience in the interrelationships between management decisions. An example is how marketing decisions can influence production and financial decisions. The course equipped me with skills like performing Simulation Report 4 under pressure, analyzing environments to develop and implement a business plan, and collaborating with teammates in conflict management. These skills are desirable in shaping my course and career goals to become a competent professional in the business. Log for Accessing the Simulation System The meetings with my teammate are every Sunday between three and four in the evening. The last access to the simulation system was yesterday at the said time. We reviewed and discussed the simulation system data by reviewing the industry performance based on various metrics. Examples include total distribution for major industry players in different markets, the estimated costs of establishing and closing a dealership, and the estimated expenses for product development based on various metrics such as quality, safety standards, and a class of an automobile. Based on industry analysis, we settled on product differentiation as the strategic move to bolster the automobile's reputation, create value for the products, maximize profit margin, and build a network of brand loyalty. Simulation Report 5 References Arshad, M. (2020). Artificial intelligence in business simulation analysis. European Journal of Technology, 5(2020):16-33. Retrieved from file:///C:/Users/USER/Downloads/629Article%20Text-2441-1-10-20210105.pdf Barnaby, J., Devins, D. & Beech, N. (2020). Using simulation to develop business strategy skills of entrepreneurs - Some reflections on a pilot. SAGE Journal, 35(3): 270-275. Retrieved from https://journals.sagepub.com/doi/epub/10.1177/0950422220945672 Wei, C., Wang, M.Y., Lin, H., Wang, Y., & Huang, J. (2022). Developing and validating a business simulation systems success model in the context of management education. The International Journal of Management Education, 20(2): 100634. Retrieved from https://www.sciencedirect.com/science/article/pii/S1472811722000362 Simulation Report 6 Simulation report 2 Corporate Generic Strategy Generally, a company that implements and executes a better strategy is well placed in the market to generate profits and maintain its place in a competitive market. I know that strategies are a set of processes geared to a given business to access more profitability and attain ambitious goals. In this case, based on the weekly textual review, product differentiation remains to be one of the corporate strategies. The strategy aims to differentiate the company's products from those of the competitors by identifying and communicating the unique qualities of the product or company and its competitors (Surono et al., 2020). The strategy is associated with a strong value proposition that enhances the product's appeal to the target market. Safety is one of the critical selling points in the AEV product differentiation. For this reason, the product is designed to meet the maximum safety threshold, four out of five possible points. Advertising and marketing plans for the product concentrate on safety as the single generic differentiation strategy to segmented targets (Surono et al., 2020). The strategy works by enabling the company to refine the target audience and enable product customization to realize and attain market demands. The plan gives the company a competitive edge in the market (Surono et al., 2020). Regardless of the business growth needs, the competitive advantage did not change from the first week. Safety is one of the most crucial selling points for automobiles since it can endure the fundamental principles of automobile design and, thus, consistency. Simulation Report 7 Blackboard Strategic Action Plan The generic corporate strategy in the strategic action plan is focused on two critical factors. Firstly, focusing on the company's cost is geared toward realizing the cost advantage in the target market segment (Min & Kim, 2021). Secondly, the focus is on differentiating the services and products offered in the market niche. These factors are directly connected to the product’s overall differentiation strategy by recognizing the company's position compared to industry competitors. The generic corporate strategy deal with costs and product prices sold in the market. The differentiation focus strategy exploits the buyers' needs in the market niche of the customer and product (Min & Kim, 2021). In our case, the strategic action plan involved reviewing detailed industry performance regarding stock prices, net incomes, and market share of various organizations. It is an ideal process for detecting possible opportunities and threats that offer a distinct picture of the present and future industry scenarios. It has resulted in examining specific features in the industry, such as product quality, styling, safety, and interior design. Other prominent competitive advantages include automobile class and size. One of the goals is to identify the competitors' revenues in the past three years. The other goal is to monitor the trends in share prices of the industry players. I took a reactive approach concerning the strategy to generate a comprehensive look at the industry before relaunching the new product with enhanced safety standards. For instance, we evaluated and examined the manufacturing for industry players such as Euro, EcoStar Estruck, and Efizz. The assessment included inventory, a preceding sales record, and planned production. The data is essential for planning product production, including safety standards. Fact Based Results Compared to Intended Moves Simulation Report 8 Measurable moves and objectives to be considered in the next phase are ways of implementing the differentiation strategy. The information at hand includes trends in the market and industry performance. The next thing would be concentrating on the issues associated with safety standards, such as target differentiation strategy. For instance, the initiative considers the expenses of developing products that satisfy the minimum safety threshold. The consideration should consider the cost of upgrading, setting up a new center, opening and closing a dealership, and all other expenditure estimates. We suggest that the production costs for various AEV be based on class. For instance, the cost of improving safety standards and its associated dollar value. In addition, I suggest to the partners the cost of marketing the enhanced product. The suggestion is necessary for determining the benefits of emphasizing product differentiation strategy as a competitive advantage (Mitropoulos, 2012). Lesson Learned I learned the criticality of combining diverse cognitive skills in handling complex issues. The exercise supports a holistic understanding of various disciplines by integrating marketing, production, and finance departments (Xu & Yang, 2010). The strategic approach allows the student to envisage between departments and how critical decisions impact the bottom line performance. For this reason, it has improved the illustration of business concepts. Also, it offered various ways to introduce practical elements such as case studies, board games, and internships (Xu & Yang, 2010). This simulation exercise provides a dynamic and interactive learning environment that has allowed me to learn during the process while evaluating my ability against my friends in regards to solving complex business problems. Mistakes made during the process served as a stepping stone, freely experimenting with various business approaches without cost consequences (Xu & Simulation Report 9 Yang, 2010). It also allowed me to focus on the possible growth of the market in which the target brand works and discover inventive ways of managing competition. In this case, the intervention is the deployment of market differentiation. The lesson activities are distinct from any other processes since they have a way of widening the potential for linking the outcomes to interdependent subjects in many ways (Clarke, 2009). The value is instrumental in my career and course by allowing me to gain insights into management decisions and interrelationships. For instance, determining how marketing decisions affect financial and production decisions (Xu & Yang, 2010). The course is equipped with skills such as performing under pressure, analyzing environments to implement and develop a business plan, and collaborating with teammates to resolve conflicting issues. These skills are critical in shaping the career trajectory of becoming a competent professional in the business (Clarke, 2009). Figure 1: Decision timeline Simulation Report 10 Simulation System Access Log The group members assembled every Saturday between two and three in the afternoon. The most recent system access was today at the same time. We extracted data followed by discussions on the best course of action based on an analysis of different performance matrices. For instance, the total distribution for major industry players in various market segments cost estimates of establishing and closing dealerships and estimated product expenses when considering multiple metrics such as safety, quality, standards, and a class of an automobile. Based on industry Simulation Report 11 review, product differentiation was deemed a suitable strategic move to boost automobile brand reputation, generate product value, create a network of brand loyalty, and maximize income margin. Simulation Report 12 References Clarke, E. (2009). Learning outcomes from business simulation exercises. Education And Training, 51(5/6), 448–459. https://doi.org/10.1108/00400910910987246 Min, S., & Kim, N. (2021). Competitive Imitation Strategy for New Product-Market Success. Australasian Marketing Journal, 183933492110479. https://doi.org/10.1177/18393349211047929 Mitropoulos, S. (2012). A simulation-based approach for IT and business strategy alignment and evaluation. International Journal of Business Information Systems, 10(4), 369. https://doi.org/10.1504/ijbis.2012.048334 Surono, S., Suryanto, T., & Anggraini, E. (2020). Comparing Cost Leadership Strategy with Differentiation Strategy towards Firm Performance on Jakarta Islamic Index. The Winners, 21(1), 35. https://doi.org/10.21512/tw.v21i1.5963 Xu, Y., & Yang, Y. (2010). Student Learning in Business Simulation: An Empirical Investigation. Journal of Education For Business, 85(4), 223-228. https://doi.org/10.1080/08832320903449469 Simulation Report 13 Simulation report 3 Corporate Generic Strategy The main corporate generic strategy is broad differentiation whereby we focus on the products with specific features and have the organizational blueprint (Islami et al., 2020). The main production plans entail addressing the challenges through competency and key issues in making significant solutions and addressing the perfection and quality forms in making the right decisions matter. An ideal approach to the differentiation strategy is to address the threats through the sieving of the right products and addressing successful measures in making things work out as recommended for competitive solutions to be realized in the best ways possible. Strategic Action Plan Going into the rounds in the Blackboard, the strategic action plan to take is financial leverage in the manufacturing process. The organizational products can do well in the market if the right strategy is implemented in promoting a focused approach and helping solve the challenges as recommended(Elia et al., 2022). The focus and key solutions require a basic strategy to make things work, especially in addressing the challenges and working to make things better. A good production process is necessary in helping make the products better. With a good capital investment beyond the current expenditures, the products can be good and excel in the market, especially in the global space. Ideally, working to resolve the challenges is through a good strategy to make things better through perfection and a competitive strategy in applying the basic solutions as needed (Oehlhorn et al., 2020). A good focus on capital issues is a necessary solution to make things better through better and perfect measures. Simulation Report 14 Addressing the challenges and enhancing the quality strategy and implementing of best strategies is a good approaches to work (Oehlhorn et al., 2020). The main focus is to help in making the organization gain through the best techniques and following desirable solutions in enhancing the needed processes as per the identified information. Applying a basic and competitive solution is one of the best ways of making the right solutions see the light of the day through quality services and employing a good product differentiation and blueprint in making good decisions as required. Additionally, a strategy to increase the upgrade for the trucks such as Estruck is good in helping promote the organization to focus on key issues and enhance the major protocols of improving and working on the main solutions to the market. The organization has an AEV, and thus the investment was solely on the decision that was most favorable. Another action is focusing on the “Euro” and “Estruck” to help in delivering the right financial goals and objectives. Thirdly, an investment of 8 million dollars in marketing is a good strategy to improve on the situation and promote the anticipated success (Oehlhorn et al., 2020). As per the decision, the financial leverage is good in solving the major market variations and fluctuations to make things work out as recommended, and ensure that success is accomplished in the best ways possible. Additionally, a capacity increase of between 50k to 150k is set to achieve great milestones in the simulation and project. How the objective was The objectives of the simulation decision was to promote the company’s profitability and reduce the debts. through the right information and application of crucial content in making the organization. From the increment of the engine capacity from 50k to 150k, the objective is good, especially in the promotion of the right progress applied with a good focus on the measurable Simulation Report 15 outcomes as needed. A strategic entry and key solutions matter in making significant moves and addressing the major challenges to solve and work on the solution in a manner that is recommended. The projected results was a debt reduction both in the term and long term. From the results, there is a failure due to the presence of debt accrued from the simulation of more than 8 million. The challenge in every organization is to run positively and have everything well-placed to make a successful venture and promote a better focus. The key solutions and competencies matter in making things better for the solutions and perfection to be realized in the best ways possible. The next move and set of objectives The main plan is to enhance the broad product differentiation when more money is injected into the production process. Additionally, an 8 million dollars expenditure is considered a key thing in the market to help in promoting a well-balanced market scope to help in the absorption of the products. With the AEV decision on the investment, the focus is to help make things better through a good enhancement approach to make things better for competitive solutions to address the challenges in the right ways possible. Additionally, a capacity increase from 50k to 150k can help in promoting product entry into the market and competition. The revenues can be stable with the right products in the market and key investors making their way into the global market to impact positively. For periods 7 and 8, the focus on Euro is a strategic plan to change things, and address the key challenges to make the right information come to the market and promote the essential marketing approach. Figure 1: Decision timeline Simulation Report 16 Lessons learned From the simulation, the main lessons learned are the need to focus on strategic production and the elimination of cost challenges to make things better. In a career, good planning for success starts with the identification of the faults and working through all the processes to make things better. Enhancing a competitive strategy and capacity to work on the solutions is a better approach to making things better through enhancing the key focus as needed. An element of success is one in which the major issues are implemented and applied in making better and perfect moves as needed. A good solution and competitive working formula are one in which the major approaches are following a good plan and strategy to address the threats as needed (Anser et al., 2020). Additionally, enhanced productivity and capacity building is key to solving the main problems through enhanced solutions and major applications in making better decisions as needed. Simulation Report 17 Simulation Logs We as a team had time to assemble this Sunday at 5pm to access the simulation system and carry out the required objective information. Addressing the challenges is through a competitive protocol to make things work and enhance a key solution in making the right decisions as needed. Good strategy and focus are on the way things happen, especially on the measurable ones. We also discussed the main outcomes to make things better through a good focus on the organizational system as needed throughout the week through text messages. Simulation Report 18 References Anser, M. K., Yousaf, Z., Usman, M., Yousaf, S., Fatima, N., Hussain, H., & Waheed, J. (2020). Strategic business performance through network capability and structural flexibility. Management Decision, 59(2), 426-445. https://www.emerald.com/insight/content/doi/10.1108/MD-06-2019-0741/full/html Elia, G., Raguseo, E., Solazzo, G., & Pigni, F. (2022). Strategic business value from big data analytics: An empirical analysis of the mediating effects of value creation mechanisms. Information & Management, 59(8), 103701. https://www.sciencedirect.com/science/article/pii/S0378720622001100 Islami, X., Topuzovska Latkovikj, M., Drakulevski, L., & Borota Popovska, M. (2020). Does differentiation strategy model matter? Designation of organizational performance using differentiation strategy instruments–an empirical analysis. Designation of organizational performance using differentiation strategy instruments–an empirical analysis (February 14, 2020). Islami, X., Latkovikj, MT, Drakulevski, L., & Popovska, MB, 158-177. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3933795 Oehlhorn, C. E., Maier, C., Laumer, S., & Weitzel, T. (2020). Human resource management and its impact on strategic business-IT alignment: A literature review and avenues for future research. The Journal of Strategic Information Systems, 29(4), 101641. https://www.sciencedirect.com/science/article/pii/S0963868720300494
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Company Strategy

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Company Strategy
Generic Strategy
A common company strategy is product differentiation. It is use to differentiate company
products, by making them more productive through recognizing and articulating a product or
company's distinctive traits and those of its rivals (Arshad, 2020). In general, a business that
develops and implements a superior strategy is well positioned to make money and hold onto
its position in a cutthroat industry. The primary production plans include dealing with
problems via important issues and competency to produce substantial solutions as well as
dealing with perfection and quality forms to produce judgments that matter.
The product is also designed in to meet safety as targeted to. One of the key selling aspects
for the AEV product distinction is safety. The product's marketing and advertising campaigns
only leveraged safety as a means of differentiating it from the competition for the segmented
target audiences. The strategy offers the business a market advantage. The primary
production plans include dealing with problems via important issues and competency to
produce substantial solutions as well as dealing with perfection and quality forms to produce
judgments that matter.
The marketing of the product focuses on safety to differentiate from other products, so that to
increase demand. It is ideal to confront dangers through the selection of the appropriate items
and the implementation of effective strategies in...


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