Simulation & Reflection of Strategic Management

Simulation and Reflection: Strategic Management
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Simulation and Reflection: Strategic Management
Strategic management is an essential aspect of the successful management of companies. As businesses undergo various changes, it is vital to have a comprehensive strategy that will guarantee positive results for the business. It is also essential for managers to understand the diverse aspects involved in the business and ensure that every decision aims to advance the firm's mission or objectives. In the simulation scenario, I acted as the director of product and innovation with the research and development unit of Spectrum Sunglass Company. There are diverse concepts regarding sustainable economic development in many professional articles, especially how innovation can be optimized through sustainability. While the issue is increasingly popular in the market, there are no specific products that align with the needs of these potential clients (Hill & Judge, 2010). Therefore, sustainable development is an opportunity for the firm to differentiate its products and remain competitive throughout the market.
In the annual strategy retreat, the idea is pitched. A task force is proposed to handle the specific objectives of eliminating waste in the manufacturing process, reducing the current emissions levels, and creating a novel product line based on environmentally friendly materials. The objectives are achievable but require an aggressive approach to conduct energy audits and set milestones for improvement. Moreover, it is vital to redesign the products and make them more environmentally friendly. There is also a need to scale successful experiments quickly, with a comprehensive analysis of the life cycle in the entire value chain. Moreover, the company also aims to replace petroleum-based products with biodegradable materials. After sharing the information with the team, the CEO and the team agreed to support the initiative and allow the team to devote 75% of the time to the proposed changes. The future of the company relies on embracing environmental sustainability, which guarantees success and product differentiation.
The simulation reflection describes the strategy and objectives, focusing on the tasks at hand and metrics that can be controlled within the simulation. Notably, the reflection will consider the diverse metrics and consider whether the intended objectives are achieved. Further, the discussion will review the performance and actions relative to strategy, highlighting the decisions that worked and those that produced adverse outcomes. The focus will be on the main events that had positive or negative outcomes on the goals set at the start of the change process. After reviewing the performances, analysis and critical actions relative to strategy will be undertaken. The aim is to showcase why the observation was made and relate them to the strategic intentions.
Strategy and Objectives
The decisions were aimed to ensure that change is embraced across the organization and minimize any negative impacts across the firm's operation. Therefore, the decision was to get a consultant to engage the audience and ensure they understood the proposed change goals. Hiring an external expert is vital for organizations because it guarantees attention to the actions being taken by the change management team. In this regard, it is easier to jolt the individuals outside their complacency and guarantee positive outcomes. It is also essential to enhance credibility for the change agent and influence the targeted individuals to have a positive stance on the proposals before the trial stage is reached. This was a crucial decision that revealed whether the company was prepared for the changes or not.
The second decision was mainly centered on getting public support from the CEO, which was also intended to enhance the credibility of the change agents. This was also important in influencing the change agents into making vital decisions regarding the proposals. Another strategy that was employed was holding town hall meetings to influence credibility from different stakeholders. The meetings are vital in communicating the change vision and influencing dialogue about the issues that might emerge upon implementation. Another strategy that was undertaken was posing progress reports, which effectively influenced the adoption of the changes. It also plays closely with building a coalition of support, which has also demonstrated positive outcomes in communication. Communication is vital and ensures that people understand what is expected and their role, attained through organization-wide emails. Moreover, communication can also be used to clarify the organization's values and how they can be achieved or strengthened through the proposed changes.
Building workers' skills are also vital to ensure that they are prepared for the changes within the organization. External training helps expand the capacity of the human resource to adopt the changes and support the vision. In-house training can also enhance the capacity of workers and guarantee proper skills to handle the looming changes. After that, I also included pilot projects across the organization. This was vital in ensuring that the changes were seen in action. Moreover, it is also vital to tell the successes by acknowledging the positive aspects and proposing ways to handle the negative aspects. Other significant decisions that were undertaken include announcing the goals and deadlines as well as conducting private interviews. These were vital in revealing the position of the company towards the full implementation of the changes. The people who were adopting the changes were also acknowledged, which was also expected to influence others toward adopting them. A reward system was revised but was deemed to have minimal effect. After undertaking these changes, it was appropriate to build the walk the talk and ensure public support from the CEO and other key organization members.
Concerning these decisions, the main KPIs used to measure thei...