Simulation Reflections - Strategic Management

Simulation Reflections - Strategic Management
Student Full Name
Institutional Affiliation
Course Full Name
Professor Full Name
Due Date
Simulation Reflections - Strategic Management
The simulation involved creating a proper strategy for LegaSoft while acting as the Chief Strategy Officer. Strategy is an essential component in business that determines whether any undertaking done by the entity will succeed or not. LegaSoft is a multinational firm that is a leader in focusing on software retailing. As noted, the firm is a market leader in the Enterprise Resource Planning (ERP) market, offering a core module for ERP and two add-on modules that can be purchased alongside the core module. The two main modules include Customer Relationship Management (CRM) and Supplier Relationship Management (SRM). The company is also intending to develop a new module for Human Capital Management (HCM). The new module is still being designed. Notably, the firm also operates in developed and emerging markets and targets different clients, such as Midmarket clients, enterprise customers, and small business clients. The company also has several competitors in the market, which include NetWare. The enterprise customer segment is facing challenges, and the company expects to outgrow its competitors. NetWare offers similar services using a different strategy, Software as a Service (SaaS), to promote and deliver its software. As a response, the company also developed a SaaS approach. With cloud-based versions of its software, LegaSoft aims to outdo the competitor.
The paper aims to reflect on the strategies and objectives of the simulations, performance, and actions relative to the strategy and evaluate the performance and key actions in line with the adopted business strategy. Further, the paper will also include recommendations based on the outcomes of the simulations. Through the analysis and reflection on the simulation, we will also highlight the dynamic associated with strategic choices, identifying the challenges resulting from market external networks. Moreover, the examination will also be able to understand the nature of competition in multiple-sided markets. The strategic decisions require trade-offs in order to guarantee business success. In this regard, the discussion will also include the investments made across different business segments and new opportunities that have been pursued. It will also show that focusing on a particular customer segment is vital for positive results and business success.
Strategy and Objectives
In order to compete effectively and attain the business goal, the strategy aimed to ensure that there is an overall growth of the company. In this regard, the strategic choices employed intended to grow SaaS sales, mainly through the adoption of cloud-based technology. Moreover, the used approach is intended to maintain the legacy sales and ensure that the firm competes effectively against NetWare. Moreover, in order to suppress the dominance of the competitor, the strategic approach also intended to collude with the segments of NetWare and limit the entry of New Entrants. This was essential in minimizing competition and ensuring that there is consistency in the business performance.
Finally, another...