Simulation & Reflection of Strategic Management

Simulation and Reflection: Strategic Management
Student Full Name
Institutional Affiliation
Course Full Name
Professor Full Name
Due Date
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 th...