StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Nobody downloaded yet

Decision-Making in Stratsim Game - Coursework Example

Comments (0) Cite this document
Summary
The paper "Decision-Making in Stratsim Game" highlights that any environmental change has a tremendous impact on the effectiveness of the strategies of any given firm. The managers’ ears and eyes should be wide open so as to know what is taking place around their environment…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97% of users find it useful
Decision-Making in Stratsim Game
Read Text Preview

Extract of sample "Decision-Making in Stratsim Game"

Download file to see previous pages For any successful organization, making the decisions is a very important task. Nevertheless, one of the key challenges faced by modern-day managers is how they can effectively compete as well as generate competitive advantage via the proper position of their companies in the best position by having a market share that is high. This is a big challenge because organizations are functioning in an environment that is complicated and influenced by globalization as well as fast technological changes. This impacts business in two ways such that opportunities are created for managers who are proactive, with those unable to cope disappearing. The position that a given company will occupy in the market place will be dependent on how good strategic choices were made together with their implementation. States-which is in the dynamic automobile industry appointed us as managers. We coped well, in spite of the task being challenging as well as enjoyable. So as to arrive at good strategies as managers, we usually considered environmental issues because they have a close relationship with the strategies of our firm. We were able to create a strategic fit via aligning the strategies of the company with those of the business environment. In return, our firm became very efficient in production, sales; marketing decisions something that positioned our firm amongst the leaders.
Statism, as mentioned earlier, is in the automobile industry and has 5 firms. Originally, all firms had similar strategic potential which implies having similar competencies and resources such as technological capabilities and capital. The number of vehicles from respective managers was anticipated to set out those capabilities so as to properly position their firm brands in the market. ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Decision-Making in Stratsim Game Coursework Example | Topics and Well Written Essays - 2000 words - 51, n.d.)
Decision-Making in Stratsim Game Coursework Example | Topics and Well Written Essays - 2000 words - 51. https://studentshare.org/marketing/1862645-marketing
(Decision-Making in Stratsim Game Coursework Example | Topics and Well Written Essays - 2000 Words - 51)
Decision-Making in Stratsim Game Coursework Example | Topics and Well Written Essays - 2000 Words - 51. https://studentshare.org/marketing/1862645-marketing.
“Decision-Making in Stratsim Game Coursework Example | Topics and Well Written Essays - 2000 Words - 51”. https://studentshare.org/marketing/1862645-marketing.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Decision-Making in Stratsim Game

Decision Making

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Decision Making Problem solving and decision-making are a natural process in the organizational setting. From an individual’s perspective in terms of undertaking clearly defined tasks, decisions are made when situations present the need to select from among various alternatives. Although different concepts on the theoretical framework for decision making have emerged, the standard decision-making model used in organizations focus on the rational model involving “a cognitive process where each step follows in a logical order from the one before… (and) it is based on thinking through and weighing up the alternatives to come up with the best potential result”...
5 Pages (1250 words) Term Paper

Decision Making

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Marketing plan affiliation Marketing plan Marketing strategies are the organisations most effective tool of maximising their profits. The marketing strategies used by organisations are usually based on their products and operations. Organisations may use the strategies to establish a SWOT analysis (Petley, 2003). Generally, marketing strategies are focused towards consumers and an organisation’s target market. Consumers and target markets hold the key to a business success or failure in terms of profits and sales. It is a general assumption that consumers are easily swayed by proper channels of communication when it comes to marketing. The best method of communication to...
3 Pages (750 words) Essay

Decision Making

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Week 5 Case study: The Threat of Groupthink (Project No: The Threat of Groupthink Introduction Modern organizations promote team work in their business settings in order for enhancing information sharing and problem solving through departmental integration. However, teams regardless of their nature and size often confront with the threat of ‘groupthink’ which leads them to faulty decision making. The threat of groupthink was identified by Irving Janis (1972) who attributed groupthink to group’s extreme cohesiveness and high concern on unanimity. When a group experiences the threat of groupthink, as Freeman (1999, p. 249) opines, it would consider few alternatives in its...
3 Pages (750 words) Essay

DECISION MAKING

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Making Table of Contents Decision Making Table of Contents 2 Implementation of Decision 3 Business Decision 4 References 6 Bibliography 6Implementation of Decision For a manager, it is important to take decisions about implementing new technology in the organization which can develop the efficiency. In Egypt, Vodafone was operating their business on software from Business Objects. The manager’s task was to observe business performance and make decisions about business. The manager ensures better utilization of data, for example, billing information, customer information, sales information and inventory information. It is the duty of a manager to target its customers...
2 Pages (500 words) Essay

Decision-making

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Decision-making forms an integral part of an organization, though not been shown in the spotlight many a times. The process of decision-making in organizations has got varied dimensions from different people and from different quarters. It is still posing to be a continuing debate. This is largely to due to the increase in complexity of modern organizations, the number of divisions or sub units within a division through which several decisions has to go through for approval. Apart from this, nine out of ten times an organization faces a situation to take decisions regarding organizational and transformational process. (Salaman, 2001. p.75) A smooth-decision making process i...
8 Pages (2000 words) Essay

Decision-making

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Assessing the correct required rate of returns is one of the most important aspects of making rational investment decisions. Since required rate of return serves as the basis for making economic decisions to invest or not to invest, it is therefore important that its assessment and calculation must be done more accurately. Capital Asset pricing model is one such tool which is used to calculate the rate of return on any given security by considering the risk and return profile of the individual security. What is also important to understand that Capital Asset Pricing Model or CAPM relates the returns on one individual security with that of the market and as such it considers...
9 Pages (2250 words) Essay

Decision Making

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... decision-making can be defined as the well-planned and structured cognitive process of deciding on the best and most rational solution to a situation from the available two or more options (Butterfield, 2009). In business, effective decision-making is critical and to make the best decision, the individual(s) ought to analyze the positives and negatives of every available option and ruminate on all possible options. The decision maker must both recognize that a decision is necessary and identify the variety of possible alternatives before opting for one. For an effective decision making process, the individuals involved ought to be capable of forecasting the results of every...
2 Pages (500 words) Essay

Decision Making

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Decision-making Video Make the Right Choice: Three Steps to Effective Decision Making (https www.youtube.com/watch?v=GLFnfqgkIxM) The narrator suggests three steps to effective decision making; which are listed below: Understanding causality- this entails problem identification, which sets the foundation for an individual as they attempt to identify the solutions by sorting through the various options ahead of them. Improving forecast- the narrator suggests the use of the “inside v. outsider view”, which allows an individual to weigh all the options, both favorable and unfavorable options. He stresses on the importance of an outside perspective, which offers a more objective o...
2 Pages (500 words) Assignment

Decision Making

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Making Decision Making Sycamore pharmaceuticals have an administrative structure that makes decisions for other organs to implement. Mostly, strategic decisions come from the president or leader who passes the duty of implementation to the management (Fitzgerald, 2002). The Managing Board later gives the resolution of the marketing organ to strategize on how best to sell the products. In consequence, it is clear that leadership, managerial and marketing bodies exist in this organization. The leader’s decision to market the product despite prior knowledge of its ineffectiveness has put the body in crisis. The verdict bears positives for the individuals in the institution as wel...
1 Pages (250 words) Coursework

DECISION MAKING

...Decision-Making in Stratsim Game... Decision-Making in Stratsim Game... Making Proposal Background Decision making problem can be defined as the science of identifying and choosing the alternatives based on the preference of the decision maker. The decision making problem that is encountered by Apple in introducing new products or services is, whether the consumer will prefer to purchase the particular product and whether the new product will meet the needs and requirements of the consumers. The price of various products of Apple Inc is very high; therefore it creates a problem for the concerned company in launching its new and innovative products in the market (Apple Inc, 2014). 2. Problem Statement The main challenge faced by Apple in its decisi...
7 Pages (1750 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Coursework on topic Decision-Making in Stratsim Game for FREE!

Contact Us