Business Simulation

Course Description

A thorough exercise in strategic decision-making at the functional and corporate levels. Students make strategic choices on key marketing, finance, accounting, human resources and operations management issues, and deal with the effect of changes in the economic and political environment on consumer demand, the exchange rate and tariffs. They take corrective action after each round, evaluating results in terms of a cumulative balanced scorecard.

Learning Outcomes

• Use market data and competitive signals to adjust the strategic plan and to refocus business tactics.
• Define strategic thrusts and strategy-tactics links at the functional and corporate levels
• Assess the quantitative and qualitative impact of specific strategic decisions on functional-area and corporate objectives.
• Allocate scarce resources among competing strategic activities such as R&D, manufacturing, quality improvement, advertising, and distribution, hiring of employees, etc. so as to optimize balanced-scorecard performance.
• Adjust strategy and tactics in response to financial performance, competitive tactics, and customer needs, and take necessary corrective actions.
• Develop strategic planning and execution skills within a rapidly changing environment.

Requirements

All Module I courses must be completed before taking MGT652, Business Simulation. MGT652, Business Simulation, is a Module II course.

Prerequisites

• MGT602