Introduction – Mission, vision and values, corporate objectives (Group business statements)
A mission statement is designed to inform and inspire the company’s stakeholders, primarily employees, the media and general public, about the company’s CURRENT purpose – why the company exists.
A vision statement is designed to inform and inspire the company’s stakeholders, primarily shareholders, about the company’s FUTURE purpose – what your company intends to achieve in the future.
A values statement is designed to inform all stakeholders about the company’s core beliefs – usually expressing belief on ethical stance, especially as regards corporate social responsibility, sustainable supply chains etc.
Here you should state your corporate objectives. These should relate directly to the strategy/strategies you have adopted during the game in achieving the ‘Investor Expectation’ KPIs.
You can use market-based strategic models such as, but not limited to Porter’s Generic Strategies and the Ansoff Matrix to describe a fixed approach to competing in the market if you have adopted one. The same goes for the Balanced Scorecard, which many students have found useful as a means to set more granular and holistic objectives than the five Investor Expectation (IE) measures. Note that four of the IE measures are very top-level financial measures (RoE, EPS, credit rating and share price) which are useful to investors; but they are not much direct use in running your company and making strategic decisions.
On the other hand, you may have played the game more inductively by setting strategy and objectives in relation to the competitive information reports produced after each round of the game. In this case, your objectives will have been more ‘emergent’ and will probably have changed more than once during the game.
Objectives should be stated in the SMART (Specific, Measurable, Attainable, Relevant, and Time-Bound) format and should be completely unambiguous.
Achieve by Year 13 [timebound] a market share of [specific] not less than 15% [measurable]
You do not at this stage need to address achievability and realism; you can do that in the year-by-year evaluation of strategic decision-making in the next section.
(2) Making use of relevant management models and concepts to evaluate the impact of a range of factors in the business environments which you considered in the decisions taken in developing a competitive strategy (Business environment analysis)
Here you should reflect on various theoretical tools discussed in class and present a minimum of 8 in your reflection in this section. We would like to see depth and detail in application of each theory to the delivery of your business through various decisions made in your company.
You need to be critical – you should explain why you are choosing a particular analysis model rather than others for a given purpose. You should also be clear about any weaknesses which a particular model has, in its specific application to the game
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