JHT2 task1
JHT2
Strategic MGMT Task 1
B/B1- My original strategy was to focus on the niche market, only have 50 different pairs of shoes, higher quality and higher price. But I saw that the market was a lot different at first then that and that I was in 8th place. I decided to change after the first round to be more of a lowest price, match the features and performances of everyone else, but also have the biggest availability of everyone. This worked out for me up until the 17th round, I thought that I had 10 rounds not 8 to make choices on, that is when I made a horrible choice and bought a lot of production with a 1 yr loan and so the final year all that loan was due and my overall score fell down 43 points taking me out of 3rd place back to 8th. I thought I would be able to bounce right back because I wouldn’t be losing sales and then the 19th and 20th rounds never came and I was stuck at 8th place. If we had a longer time my strategy would have worked, just ran out of time in the simulation, since strategies evolve over time as the market changes and shifts because of circumstances and ongoing market changes so did my strategy as to wait as long as possible to boost production, but in the end it hurt me financially.
As you can see by the attached documents, my strategy shifted a few times, first was for price and quantity of goods. Went from being high priced to being right at the average price, we also went from few product lines to the most by about double. This gave us the opportunity to capture a lot more sales because the breadth of our product line gave customers the diversity they wanted. This is why we had roughly 20+% of the market share in the wholesale and internet segments in each area. We however didn’t have any market share in the private label segment, so the last year I made more shoes to sell in the private segment but because there was triple the offered than the actual demand in the market I made a lot more shoes than needed and so my
Strategic MGMT Task 1
B/B1- My original strategy was to focus on the niche market, only have 50 different pairs of shoes, higher quality and higher price. But I saw that the market was a lot different at first then that and that I was in 8th place. I decided to change after the first round to be more of a lowest price, match the features and performances of everyone else, but also have the biggest availability of everyone. This worked out for me up until the 17th round, I thought that I had 10 rounds not 8 to make choices on, that is when I made a horrible choice and bought a lot of production with a 1 yr loan and so the final year all that loan was due and my overall score fell down 43 points taking me out of 3rd place back to 8th. I thought I would be able to bounce right back because I wouldn’t be losing sales and then the 19th and 20th rounds never came and I was stuck at 8th place. If we had a longer time my strategy would have worked, just ran out of time in the simulation, since strategies evolve over time as the market changes and shifts because of circumstances and ongoing market changes so did my strategy as to wait as long as possible to boost production, but in the end it hurt me financially.
As you can see by the attached documents, my strategy shifted a few times, first was for price and quantity of goods. Went from being high priced to being right at the average price, we also went from few product lines to the most by about double. This gave us the opportunity to capture a lot more sales because the breadth of our product line gave customers the diversity they wanted. This is why we had roughly 20+% of the market share in the wholesale and internet segments in each area. We however didn’t have any market share in the private label segment, so the last year I made more shoes to sell in the private segment but because there was triple the offered than the actual demand in the market I made a lot more shoes than needed and so my