Project 3: Simulation as a Tool for Strategic Decision Making Step 5: Make Your Decisions
Your team is now ready to help MediCorp compete in the genetic testing device industry by making strategic decisions through the Capsim platform. Your decisions will direct five calendar years of your client’s operations. All decisions for each year will be made on the first day of the year (January 1st). On December 31 of each year in your simulation, Capsim will produce a report that reflects the results of your decisions. Your team will use these reports to make further decisions for the following calendar year.
First, consult your Round 0 Report to understand the starting position of MediCorp’s business. Use How to Find Reports in Capsim to locate the Round 0 Report and reports for all subsequent rounds. Then, create your Strategic Plan and begin making decisions for your client, consulting Capsim: A Systematic Approach to Making Strategic Decisions for direction. Inside this document in the “Business Areas” section click the links for each functional department (Research and Development, Marketing, Production, and Finance) to get more insights about their roles and responsibilities in the simulation.
Meet with your team members and develop your overall Strategic Plan. Fill out the recommended template. Later, it will help you to evaluate how your strategy evolved during the simulation. The team coordinator should post your team’s Strategic Plan in your team’s discussion area. This should be submitted before Round 1 of the simulation is processed.
Tips
· Teams should make their decisions in the following order: (1) R&D, (2) marketing, (3) production, and (4) finance. In this simulation, your team is unlikely to be successful if it makes decisions in a different sequence. However, coordination between the four areas during all decisions is also critical, and you may have to revisit decisions based on input from other departments.
· For your benefit, it is advisable to individually take notes on the decision-making process, which may help you analyze your team’s results later in this project.
Fill out a Capsim Decision Record at the end of each round for each of the four functions (R&D, Marketing, Production, and Finance). This document will serve as a record of your thoughts and decisions in each of the functional areas.
Proceed to the next step for more information on finalizing your team’s decisions.
Step 7: Evaluate Your Contribution to the Team
When you have completed all five rounds, write a post of 250 – 300 words in your group discussion area explaining the decisions in which you were involved, the logic behind those choices, and how those decisions contributed to the team’s strategy and results.
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