Access over 20 million homework & study documents

search

MGT 481 wk 6 dis

Content type
User Generated
Rating
Showing Page:
1/2
Read Chapter 2 found in your Capsim e-Textbook, Marketing: How do we identify,
entice and add value for customer?
Porters Five Forces model is a well-known approach to developing a sustainable
competitive advantage. For a company to develop a competitive advantage, however,
the four functional areas, as described in Chapter 2, and the employees must effectively
work together toward shared goals and manage the complex interactions of ideas,
people, and capital. Address the following:
Describe your Capsim team's experience with the interactions of your teams’
functional areas.
What sustainable competitive advantage were you able to develop, if any?
How did your team balance the needs of internal and external stakeholders?
What are the marketing realities your team faced and how did you address them?
Team Digby has had their fair share of challenges in the past five weeks of classwork.
We have had a few ‘hit and miss’ areas but I think we are finally getting towards a
profitable product, and company. We find that it is best if we get on a conference call
each week and complete the necessary simulations within Capsim, while we all listen
and understand what each change does to the bottom line.
At this point in time I don’t think Team Digby has been able to create a sustainable
competitive advantage. We are trying to improve our profit margin and remain over the
minimum limit for an emergency loan. The five forces model was developed by
Michael E. Porter to help companies in assessing the nature of an industry’s
competitiveness and to develop corporate strategies accordingly. Porter's model is a
simple but powerful tool for understanding where power lies in a business situation.
This is useful, because it helps you understand both the strength of your current
competition (Chappelow, 2019).
Balancing internal and external stakeholders has also been a work in progress for Team
Digby. We have been balancing the cost of our products, with the end goal of
increasing our bottom line and profit margin. With more profit, we can then offer some
compensation to both the internal and external stakeholders. Every organization has its
stakeholders, irrespective of its size, nature, structure and purpose. The stakeholders
can be any person or entity, who influence and can be influenced by the company’s
activities. In a business environment, stakeholders are classified into two categories,
Internal Stakeholders, and External Stakeholders. Internal stakeholders refer to the
individuals and parties, within the organization (O’Shannassy, 2003).
Marketing for Team Digby in the beginning started out fast and aggressive. We quickly
learned that we needed to scale the expenditure back and make gradual increases
each week. Honestly, we are still working towards the right balance, hoping for a
profitable week this week in simulation. When we spent too much in the first few weeks
our profit margin took a hit; a big one. Now that we are scaling back the spend, our
profit margin is recovering. We have found that brands focused only on stimulating

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/2

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
Read Chapter 2 found in your Capsim e-Textbook, Marketing: How do we identify, entice and add value for customer? Porters Five Forces model is a well-known approach to developing a sustainable competitive advantage. For a company to develop a competitive advantage, however, the four functional areas, as described in Chapter 2, and the employees must effectively work together toward shared goals and manage the complex interactions of ideas, people, and capital. Address the following: • • • • Describe your Capsim team's experience with the interactions of your teams’ functional areas. ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
Awesome! Perfect study aid.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Documents