Bawas-pty-ltd_Task2_MGT322.docx - UNIVERSITY OF THE SUNSHINE COAST Capsim report MGT 322 Advanced Strategic Management Task 2 Bawa\u2019s Pty Ltd Anisha

Bawas-pty-ltd_Task2_MGT322.docx - UNIVERSITY OF THE...

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UNIVERSITY OF THE SUNSHINE COAST Capsim report MGT 322 - Advanced Strategic Management Task 2 Bawa’s Pty. Ltd Anisha Singh, ID: 1084931 Purnisha Singh, ID: 1086862 Naresh Kumar, ID:1074920 Word Count:
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Executive Summary Strategy can be catalyst for the growth and success of the business and help to adapt and grow in the marketplace. Thus, appropriate strategy is highly recommended if we wish to achieve sustainable business growth. This content is based on the theoretical view and personal experience with the capsim simulation. Business strategy and planning are the foundation for the successful business which flow throughout the entire business. Every member of the organization should accept the strategy and plan and implement it in a better way. From Porter’s generic strategy, we choose to run our company in accordance with the cost leadership and focus strategy. For this strategy to be successful, product improvement should match the demand of buyers and criteria prior to make decisions. In the marketing department, we establish high awareness and easy accessibility for all the products. In the production department, we focused on investing in capacity rather than investing in automation. In the finance department, we initially played around with different figures in issuing stocks, bonds and current debts to see the effects on closing balance. We only financed investments in the human resources department when we recruited new staffs. This is because HR department controls the cost of recruiting and training hours. TQM is designed to reduce the costs of labour, materials and administration which enhance the completion of R&D project. 1
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Table of Contents Executive Summary ............................................................................................................................... 1 1 Introduction ................................................................................................................................... 3 2 Business strategy ........................................................................................................................... 3 2.1 Research and Development .................................................................................................. 4 2.2 Advance marketing department ............................................................................................ 5 2.3 Production ............................................................................................................................. 5 2.4 Finance .................................................................................................................................. 5 2.5 Human resource .................................................................................................................... 5 2.6 Total Quality Mangamement (TQM) ...................................................................................... 5 3 Trial, error and observation ........................................................................................................... 5 4 Discussing decisions with team ..................................................................................................... 7 5 Overview of capstone decisions .................................................................................................... 7 6 Conclusion ..................................................................................................................................... 7 7 References ..................................................................................................................................... 8 2
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1 Introduction The word strategy refers to a plan of action designed to achieve a long term or overall aim. Organization require strategy to define objectives, manipulate outcomes and outplay competitors (Mintzberg, 1987). Strategy can be defined as the choices and actions that managers make within the company to ensure performance increase (Hill, Jones & Schilling 2014). If a business wish to achieve sustainable growth it should highly focus on its strategy. This report explains how theory and personal experience is used throughout capstone. Theories include strategic management, Porters generic strategies, operations and forecasting. In this report, the relevant strategies will be used, eight rounds of capstone will be investigated and compared to related literature. There are no limitations within this report and research will be done from various strategic management textbooks, journal articles, databases and various reliable internet resources.
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