Project 3: Simulation as a Tool for Strategic Decision Making
In its most recent quarterly meeting, the Maryland Creative Solutions board reviewed a news report about the advanced state of human genetic testing made possible by the completion of the historic human genome project over a decade ago. The board agreed unanimously that genetic testing has a huge market potential, and has reached a long-term consulting agreement with MediCorp, a fast-growing manufacturer of genetic testing devices with a solid reputation in the field.
Now, the MCS board has passed a directive down to you and other personnel to begin the process of working with MediCorp to provide strategic advice to guide their business operations.
You will soon receive detailed instructions from your MCS training manager on next steps.
Introduction
In Project 3 you will continue to work on the same team as in Project 2. However, you will turn in your own analysis at the end of the project for an individual grade. You will use the Capsim software to simulate a real-world environment in which you not only make strategic business decisions for MediCorp but see the results year after year. Prepare yourself for operating in the complex world of international business and be sure to take notes as you progress through the simulation. Your team’s simulation results for MediCorp are not graded or assessed. Rather, your grade will be based on your individual analysis of how your team’s decisions affected the outcome of the simulation.
Structure of Project
In Project 3 your team will make five rounds of decisions based on your selected global strategy, equivalent to five years of business operations for your client.
Although you will be working as a team to make strategic decisions for your client, you will be given individual grades for Project 3 deliverables. While all business decisions are made as a team, the analysis of results is performed individually. Your project grade will be based on the quality of your individual analysis of the simulation results and your ability to interpret the results as a consequence of the team’s decisions.
Company Assignments in Capsim
Capsim will assign a company/team name to each team. The company names are preset, so students will not be able to change them. In the simulation report, the company name directly correlates to the product name(s). For example, all product names for the Andrews company will start with the letter A; products for Baldwin will start with the letter B. This helps the participants understand what product belongs to what team when they are analyzing the results of the simulation.
The company names assigned in the Capsim simulation are as follows:
· Andrews
· Baldwin
· Chester
· Digby
· Erie
· Ferris
Any teams that are not assigned to students will be “computer teams,” meaning that the Capsim software will make decisions without any human input on behalf of each computer team. To get started, click Step 1.
Competencies
Your work will be evaluated using the competencies listed below.
· 1.3: Provide sufficient, correctly cited support that substantiates the writer’s ideas.
· 2.1: Identify and clearly explain the issue, question, or problem under critical consideration.
· 2.4: Consider and analyze information in context to the issue or problem.
· 2.5: Develop well-reasoned ideas, conclusions or decisions, checking them against relevant criteria and benchmarks.
· 3.1: Identify numerical or mathematical information that is relevant in a problem or situation.
· 4.1: Lead and/or participate in a diverse group to accomplish projects and assignments.
· 6.1: Identify the general (external) environment in which an organization operates and discuss the implications for enterprise success.
· 6.3: Analyze an organization’s internal strengths and weaknesses for strategic value.
· 6.4: Develop and recommend strategies for an organization’s sustainable competitive advantage.
· 10.2: Analyze financial statements to evaluate and optimize organizational performance.
· 10.4: Make strategic managerial decisions for obtaining capital required for achieving organizational goals.
· 10.5: Develop operating forecasts and budgets and apply managerial accounting techniques to support strategic decisions.
· 12.1: Assess market risk and opportunity.
· 12.2: Analyze marketing information.
· 13.1: Identify and analyze new opportunities.
· Step 1: Prepare for Group Work
· Jillian emails you and your teammates with instructions on how to approach expectations, roles, and the division of labor on the MediCorp project. You will work on the same teams as in the previous project.
· INBOX: 1 New Message
· Subject: MediCorp Project Work Plan From: Jillian Best, CEO, MCS To: You and Teammates
· Hi all,
· My thanks to each of you for getting up to speed on this project. It looks like we’re now ready to hit the ground running.
· The members of this team have a wide range of skills and interests, and I want to leverage our strengths the best we can. As we work with MediCorp, you will be assuming various roles to suit the client’s needs. Thanks in advance for your willingness to remain adaptable and to work together.
· As you get underway, please review the attached “Guidance on Teamwork” document for information on managing roles and responsibilities for this project and setting a schedule for saving your decisions. Fill out your team Work Plan and Coordination Plan, you will find the links in the “Guidance on Teamwork” document.
· I will be in touch with more details soon.
· Thanks again,
· Jillian
· Attachments:
· Guidance on Teamwork
· Email signature with MCS corporate logo, Jillian Best, Chief Executive Officer, and contact info
· When you have completed your team Work Plan and agreed on your Coordination Plan, the team coordinator will post them to the group’s discussion area.
· Then proceed to Step 2, where you will discuss industry analysis and entry strategies with your colleagues.
·
Step 2: Discuss Your Industry Analysis and Entry Strategy
Discussion
An understanding of industry structure and industry analysis will be critical for making informed decisions for MediCorp. It will be useful to think critically about international strategies, target market analysis and selection, modes of entry, and globalizing the management model. All these learning materials will help you to understand better the decision-making process in the real world and implement some of the ideas in the simulation.
As you and your teammates settle on a strategy, Jillian Best has asked you to meet and discuss the various factors that influence industry performance and an entry strategy. Based on your readings, research, and analysis, respond to the two discussion topics below. You should respond to at least one main topic by Saturday midnight of week 6; respond to the second main topic and a minimum of two posts from your classmates (at least one in each topic) by Tuesday midnight of week 6.
Discussion Topic 1: What industries tend to be better performers? Why (what factors contributed to their success)? How do they perform under crises like pandemics? What makes industries to be more resilient?
Discussion Topic 2: What are the factors that influence an organization’s choice to enter a specific foreign country with a specific mode of entry? Discuss how the chosen mode fits with an organization’s goals and objectives and how the culture and geography proximity affect an organization’s value-chain activities being relocated to the country.
Review the MBA Discussion Guidelines for instructions on participation in discussions. Also, abide by the following guidelines:
· The titles of your main postings should indicate the discussion topic number (e.g., #1, #2) and your name.
· In your discussions, cite examples when you describe theories from your reading and research. You may use examples from your organization or industry, current or recent newsmakers, or other reliable sources.
· Support your work with scholarly and reliable non-scholarly sources and integrate specific real-world examples.
After the discussion, proceed to the next step, where you will learn more about your client and the scope of your consultant agreement.
Course Resource
MBA Discussion Guidelines
Throughout the MBA program, you will be asked to participate in discussions. Assigned discussions, both individual and group work, are part of the process of developing your project deliverables.
In general, address your discussion posts to your classmates, rather than the instructor. Do not attach files; use only the discussion textbox. Your posts do not need the structure or format of formal business memos or reports. These discussions should be an informal exchange of ideas with your peers. You should, of course, still adhere to the norms of standard written English.
To receive the maximum benefit, you should participate in accordance with the guidelines provided below.
· timeliness
· initial posting submitted
· responses to other discussion postings submitted by Tuesday
· proper citation
· use APA citation style (example below)
· meaningful engagement
· posts contribute to substantive scholarly discussion
· student demonstrates professionalism in interaction with peers
· posts critically discuss topics presented in the current week and, when appropriate, in previous weeks
· posts are grounded in the theories and concepts presented in the course
Example:
Based on the UMGC library’s guidance on APA citations, including guidance on how to cite content from the UMGC online classroom, please use the following format for classroom resources with no author or no date:
Title of resource. (n.d.). Document posted in University of Maryland Global Campus Course Name Course Number online classroom, archived at: hyperlink
SWOT analysis. (n.d.). Document posted in University of Maryland Global Campus MBA 610 2182 online classroom, archived at: https://lti.umgc.edu/contentadaptor/page/topic?keyword=SWOT%20Analysis
© 2024 University of Maryland Global Campus
All links to external sites were verified at the time of publication. UMGC is not responsible for the validity or integrity of information located at external sites.
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