Mgmt 5260 Smartart Simulation
SmartMart Simulation
MGMT 5260
Professor Theodor Tolias
By: Zackary Fisch Rothbart
Student ID: 212700860
1. SmartMart Strategy and Decision Making The approach employed on behalf of SmartMart embraced a two-pronged strategy that entailed both a strategic growth initiative that allows SmartMart to explore additional potential revenue channels and opportunities, and the use of data and industry statistics to drive decision-making. It is incredibly easy to believe that a firm knows what their target demographic desires, but in the end figures are the most proven way to drive company policy. The first decision made that reflects this growth/data-driven strategy was the move to push SmartMart to offer more local Community Supported Agriculture (CSA). The data suggested that this was the most viable growth strategy. In a survey where SmartMart customers highlighted key reasons for shopping at SmartMart, 34% cited expert service, 28% top quality produce, and 23% the store atmosphere.1 In separate surveys 82% of respondents said SmartMart should offer more local products, while 87% stated SmartMart should have a more customized store offering that caters to locales. 2
While guiding SmartMart towards a big-box store approach for growth would result in a more convenient shopping experience …show more content…
I realized the importance of a brand and the brand experience to the value creation process as perceived by stakeholders. I realized that some decisions benefit multiple primary stakeholders (customers and investors in the case of biodiesel and store growth) while those same decisions negatively influence other stakeholders (the decision to purchase biodiesel may result in more corn growth and alternative crop shortages). It is interesting how a single decision can influence so many parties, but it is the role of the firm to weigh these decisions and maximize its value creation and
MGMT 5260
Professor Theodor Tolias
By: Zackary Fisch Rothbart
Student ID: 212700860
1. SmartMart Strategy and Decision Making The approach employed on behalf of SmartMart embraced a two-pronged strategy that entailed both a strategic growth initiative that allows SmartMart to explore additional potential revenue channels and opportunities, and the use of data and industry statistics to drive decision-making. It is incredibly easy to believe that a firm knows what their target demographic desires, but in the end figures are the most proven way to drive company policy. The first decision made that reflects this growth/data-driven strategy was the move to push SmartMart to offer more local Community Supported Agriculture (CSA). The data suggested that this was the most viable growth strategy. In a survey where SmartMart customers highlighted key reasons for shopping at SmartMart, 34% cited expert service, 28% top quality produce, and 23% the store atmosphere.1 In separate surveys 82% of respondents said SmartMart should offer more local products, while 87% stated SmartMart should have a more customized store offering that caters to locales. 2
While guiding SmartMart towards a big-box store approach for growth would result in a more convenient shopping experience …show more content…
I realized the importance of a brand and the brand experience to the value creation process as perceived by stakeholders. I realized that some decisions benefit multiple primary stakeholders (customers and investors in the case of biodiesel and store growth) while those same decisions negatively influence other stakeholders (the decision to purchase biodiesel may result in more corn growth and alternative crop shortages). It is interesting how a single decision can influence so many parties, but it is the role of the firm to weigh these decisions and maximize its value creation and