Capstone

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  • Topic: 1980, 1973, 1985
  • Pages : 10 (2583 words )
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  • Published : January 22, 2013
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The goals of this course are to:
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(1)To understand and appreciate the role of the general manager (i.e., the executive responsible for the firm as a whole); -------------------------------------------------
(2)Understand and appreciate the difficulty of integrating (coordinating) functional decisions (research, marketing, production, human resources, and finance) into an effective overall business strategy; -------------------------------------------------

(3)Learn basic strategic management concepts (i.e., strategic fit between environment, resources, and goals and strategies; mission and vision; the strategic planning process; situational analysis; industry driving forces and five forces, SWOT analysis, etc.) and gain some experience in applying these concepts in the simulation experience.

COURSE DESCRIPTION:

Strategic Management Capstone – The center of attention is the total enterprise–-the industry and competitive environment in which it operates, its long-term direction and strategy, its resources and competitive capabilities, and its prospects for success. Unlike other business courses that concentrate narrowly on a particular function or piece of the business—accounting, finance, marketing, production, human resources, or information systems, strategic management is a big picture course. It cuts across the whole spectrum of business and management.

Strategy may be defined as the art and science of formulating and implementing visions and plans to achieve specific goals. As a successful manager and business leader you will be required to make intelligent decisions as you help to create and execute your organization's strategic plans.

The course involves a competitive business simulation game. You will be part of a management team responsible for the success of a 100 million-dollar firm in an industry with five other competitors. Your team will face many challenges!

Can you organize into an effective executive team?
Can you formulate a shared mission and vision for your firm? Can your team understand and use relevant information and make smart decisions? Can you anticipate changes, avoid treats, and exploit opportunities? Can you win the simulation game?

Your team’s 100 million-dollar firm will be managed by entering critical business decisions into an interactive computer simulation.

You may be frustrated at first because you are overwhelmed temporarily by all the different things you need to learn about the sensor business, how the simulation operates, and how to coordinate across functional areas. This frustration is normal. It indicates you are struggling with the transition from a single functional view of a business to a more complex and multifunctional view of the total enterprise and its competitive environment. This is the course’s learning objective. This frustration goes away as your team begins the practice rounds.

Over a period of six rounds (equivalent to 6 years), you will discover the strategic imperative of cross-functional coordination between Research and Development, Marketing, Production, Human Resources, and Finance. You will quickly learn the value of strategic planning and execution as your team's competitive position is determined by the set of decisions taken in each round. This is as close to the real world as you can get!

The course has been deliberately designed to push you to do your best under pressure and to be very real-world in terms of what you learn and what you can take with you of practical value as you launch your business career. It builds upon and enables you to apply what you have learned in marketing, operations, finance, accounting, and management. In a very real sense, the entire course is your “final exam” for your business school experience e.g., becoming a “licensed practitioner of business.” This simulation is also great fun...
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