Stg5a3 Marketplace Summer 2021 Assessment 2 Board Report

Stg5a3 Marketplace Summer 2021assessment 2 Board Report Re Sit

As an individual, you are required to produce a typed final report of 1,500 words (excluding executive summary, bibliography, or appendices). The report should be submitted electronically via BlackBoard by 23:59 on Friday, 9th July 2020. This submission accounts for 20% of the total module marks. Presentation of the report is not necessary. Ensure your name and team name (e.g., “STG5A3 – Fred Smith - Beta1”) are included on the report cover and in the filename. Marking will favor those who incorporate relevant models and theories into their analysis.

The report must address the following areas in a structured, analytical format:

1. Critically evaluate the changing competitive dynamics of the Market Place simulation over the 7 quarters.

Your analysis should consider:

  • The strategies adopted by other teams and how these strategies evolved throughout the simulation.
  • The performance of other teams during the simulation, including the measures used to evaluate and justify their performance.

2. Based on Market Place data, compare and contrast your team’s strategies and performance with those of competitors.

Your analysis should include:

  • The specific strategies or decisions made by your team that account for discrepancies in performance compared to competitors.
  • Assessment of your team’s preparedness for future competitions.

3. Strategy Planning

Provide a brief outline of your intended future strategies, including proposed adjustments to investments in R&D, marketing and promotion, production, and HRM strategies.

The final submission deadline is 23:59 UK time on Friday, 9th July 2021. A formative draft is due by 23:59 UK time on 25th June 2021, which is strongly recommended. The report will be assessed based on the following criteria:

Report Content

  • Clarity and coherence in presenting the overall business and competitive landscape.
  • Logical consistency and support of arguments with appropriate strategic tools and techniques.
  • Critical analysis of how your team’s strategy considered competitor actions.

Communication

  • Professional, business-like writing style ensuring clarity and conciseness.
  • Logical structure that facilitates understanding of strategy and methodology.
  • Use of visuals, graphs, and tables that are well-designed, correctly referenced, and relevant to the narrative.
  • Supporting data included in appendices as appropriate.

Paper For Above instruction

The following report provides an in-depth analysis of the competitive dynamics experienced during the Market Place simulation over seven quarters, alongside a strategic evaluation of our team’s decisions relative to competitors. It also outlines future strategic directions rooted in data-driven insights and theoretical frameworks to enhance competitiveness.

Introduction

The Market Place simulation offers an immersive experience for understanding competitive strategy in a dynamic environment. Over seven simulated quarters, teams navigated market challenges by making critical decisions regarding product development, marketing, pricing, and operations. This report critically reviews the evolution of competitive strategies, assesses performance metrics, and formulates future strategic initiatives grounded in strategic management theories. Effective application of models such as Porter’s Five Forces, SWOT analysis, and the Strategy Diamond will underpin the analysis and recommendations.

Analysis of Competitive Dynamics

Throughout the simulation, teams adopted diverse strategic approaches. Initially, some focused on cost leadership, aiming for low-cost production to gain market share. Others prioritized differentiation, investing heavily in branding and R&D to premiumize offerings. Over time, strategies shifted as market conditions changed—many teams transitioned from aggressive cost-cutting to innovation-driven differentiation, responding to changing consumer preferences and technological advances.

Performance evaluation of competitors utilized financial indicators such as profit margins, return on investment (ROI), and market share. These metrics revealed that firms employing combination strategies—balancing cost-efficiency with innovation—achieved sustained growth. For instance, teams that invested strategically in R&D and marketing improved brand recognition, which translated into higher sales and profitability.

Strategic adaptations included reallocating resources from marketing to R&D, enhancing product features, or adjusting pricing strategies in response to competitors’ moves. These evolving tactics reflect the iterative process of strategic learning within the simulated environment, where agility and responsiveness were crucial for success.

Comparison of Team Strategies and Performance

Our team adopted a market segmentation strategy, emphasizing innovation and customer-centric product features. This contrasted with some competitors’ focus on cost reduction. Data shows that our investment in product development increased perceived value, leading to higher pricing power and improved profit margins. Conversely, teams heavily invested in cost-cutting underperformed during periods of technological change, illustrating the limitations of a pure cost leadership approach.

Performance metrics indicated that our team’s market share grew steadily, with an upward trend in profitability compared to less adaptive competitors. However, some rival teams outperformed us during specific quarters through aggressive marketing campaigns or price wars. Our analysis attributes these discrepancies to strategic choices—teams that prioritized aggressive promotional activities temporarily gained market share but often at the expense of margin stability.

To assess future readiness, we used strategic fit analysis and SWOT frameworks. Our strengths in innovation and customer loyalty position us well, but weaknesses such as limited scale and resource constraints need addressing. Opportunities lie in expanding R&D efforts to develop breakthrough products, while threats include competitors' aggressive marketing tactics and technological obsolescence.

Strategic Planning for Future Competitiveness

Building on simulation insights, our team plans to adopt a differentiated strategy with renewed emphasis on R&D investment to foster innovation. Proposed actions include increasing R&D expenditure by 15-20% to accelerate new product development, combined with targeted marketing campaigns to reinforce brand positioning.

Furthermore, we intend to optimize production processes through lean manufacturing techniques to reduce costs while maintaining quality, enabling us to sustain competitive pricing. Investment in human resources will focus on skills development for R&D and marketing teams, aligning capabilities with strategic priorities.

Future strategic directions will incorporate a balanced scorecard approach to monitor performance holistically, including financial, customer, internal process, and learning and growth perspectives. This comprehensive approach ensures that strategic initiatives remain aligned and adaptable to evolving market dynamics.

Conclusion

The Market Place simulation has underscored the importance of flexibility, innovation, and competitive intelligence. Our analysis reveals that adaptive strategies—balancing cost-efficiency with differentiation—are vital for sustained success. By leveraging strategic models and data insights, our team is positioned to refine our approach, capitalize on market opportunities, and address challenges proactively. Continuous learning and strategic agility will be key to maintaining a competitive edge in future iterations.

References

  • Porter, M. E. (1980). Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free Press.
  • Johnson, G., Scholes, K., & Whittington, R. (2017). Exploring Corporate Strategy (10th ed.). Pearson.
  • Grant, R. M. (2016). Contemporary Strategy Analysis (9th ed.). Wiley.
  • Barney, J. B., & Hesterly, W. S. (2019). Strategic Management and Competitive Advantage: Concepts and Cases. Pearson.
  • Kim, W. C., & Mauborgne, R. (2004). Blue Ocean Strategy. Harvard Business Review, 82(10), 76-84.
  • Thompson, A. A., Peteraf, M., Gamble, J. E., & Strickland, A. J. (2018). Crafting and Executing Strategy: The Quest for Competitive Advantage (21st ed.). McGraw-Hill Education.
  • Prahalad, C. K., & Hamel, G. (1990). The Core Competence of the Corporation. Harvard Business Review, 68(3), 79-91.
  • Mintzberg, H., Ahlstrand, B., & Lampel, J. (1998). Strategy Safari. Free Press.
  • Friedman, M. (1970). The Social Responsibility of Business Is to Increase Its Profits. The New York Times Magazine.
  • Chandler, A. D. (1962). Strategy and Structure: Chapters in the History of the American Industrial Enterprise. MIT Press.

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