Vol. 1, No. 3, Fall 2005
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Strategy and Business Policy places a heavy emphasis on formal strategic planning. What differentiates this from other strategy simulations is that the strategic planning process is built into the software. A strategic planning template is interwoven throughout the simulation. It follows the OST (objective-strategy-tactics) format and forces the students to explicitly perform strategic analysis, strategy specification, tactical execution, and real-time control. The goal is to cultivate the OST mental discipline within each student. The Strategy and Business Policy simulation is targeted towards the capstone course in business or a course with a heavy strategy component. The students work within a multifunctional business setting where they start up and manage a new venture for six decision periods (a decision period is the simulation equivalent of a real-world business quarter). They are responsible for managing the business’ marketing, sales channel, human resource, manufacturing, and financial activities. Each decision period takes about two to two-and-a-half hours to complete. Strategy is not something students can just do in the initial phases of the business and then forget about it. It takes continuous monitoring and adjustment. The strategic planning component requires a very hands-on effort that teaches students to be aware of their strategy. Because the strategic planning template is used every quarter in this simulation, students get to see how their plans build from one quarter to the next. This cyclic process aids students in retaining both the concepts and the methods of strategic planning.
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