StratSimManagement is designed for MBA, Executive Development, or advanced undergraduate courses in Strategic Management and Strategy, providing a dynamic learning environment where economic conditions change, customer needs evolve, and competition is aggressively pursuing financial success. Students must manage short and long term objectives, making integrated decisions that impact all areas of the business. Teams compete directly against each other, with the results being dependent upon how the competitors interact, what new products are introduced, and how these products are supported. StratSimManagement is built on the StratSim methodology used by thousands of students since the mid-1990s. This version of StratSim with its focus on strategy and international business is an excellent complement to traditional teaching methods, allowing students to apply strategic planning concepts in a dynamic, integrative environment.
Optional international module allows students to explore sourcing and market expansion alternatives in addition to their core domestic operations.
The Case: Groups of 3-6 students are put in the role of a management team that takes over one of five companies competing in the domestic automobile industry. Some companies are positioned as high-end niche producers while others are more value and volume driven. Each company begins the simulation with three vehicles and then must decide how best to improve their performance and potentially enter new market segments that offer opportunities for growth. Optionally, students may source from or enter into international regions.
Decisions in StratSimManagement include:
Strategic Management
Strategic management is at the core of all decisions made in StratSimManagement. Students start by conducting environmental analysis before articulating the vision and mission of the organization. Students must determine their firms' core competencies, and formulate corporate-level, business-level and functional-level strategies
Product Development
Students create new product concepts and choose whether to develop them and ultimately launch them into the market. Each team also has the ability to improve its development capabilities through investment in vehicle technologies, as well as by expanding the number of product development centers.
Operations
Teams make operations decisions that consist of building or selling off capacity, entering a sales forecast and production level for each product, and optionally, deciding to source from overseas. Retooling costs and estimated inventory are recalculated when the forecast or production is changed.
Marketing
Students develop an understanding of the marketing function and strategic management by analyzing consumer/product relationships, choosing target market segments, and designing and implementing a marketing mix strategy.
Human Resources
Students must decide how team responsibilities are divided. Will they be product managers? Functional managers? How will information be analyzed? Who will negotiate with potential partners? All students on a team make one set of decisions for their firm, so coordination among team members is an essential ingredient for success.
Finance and Accounting
Financing and management accounting decisions in StratSimManagement involve analyzing projected cash flows and ensuring there are sufficient funds to cover investments and operations. In addition to choosing among many alternative uses for their limited funds, students also make decisions involving dividends, short vs. long-term debt, and raising capital by issuing stocks and bonds. Students are expected to perform financial ratio, breakeven, and net present value analysis.
International (Optional)
Ability to source and market in two new regions either though a wholly-owned / greenfield approach or by negotiating an alliance with one of the existing companies in the region.
Student performance can be compared on a number of metrics including stock price, net income, standard marketing and financial measures, as well as an instructor-weighted balanced scorecard. All Interpretive simulations include a pre-simulation quiz and peer review. This exciting new version successfully builds on the underlying model that has been used by thousands of students and executives around the world for over a decade.
Covers Strategy
Advanced Level
Direct Competition