MK9700 – Strategic Marketing in the Digital Era
The Business Simulation – component assessment
Refer below to the original assessment relating to the business simulation. If you are referred in this original assessment, the re-assessment is a re-work of your original assessment. Work on your original assignment with reference to your mark and feedback and the marking proforma provided at the end of this assessment brief.
You are part of a team (three to five students) who together make up the executive managers of a company, which is entering the European Car Industry.
You will set up a car manufacturing company, design cars and sell these. Your company is in competition with the others within your seminar group and within the wider marketplace.
Achievement of this is through participation in a business simulation exercise (“The Business Game”). The exercise is designed to allow you to apply theoretical knowledge to the setting up and running of a business, which is competing for market share. This will be achieved through application of simulation software, which will produce results showing the impact of your decisions on the company’s performance each year.
Before the simulation starts, you are allocated to your company teams. The teams will compete with one another for market share as part of the simulation.
Information on the market together with cost data will be posted on the e-learning portal. Each team should read this information carefully and use it to establish a business strategy. During the simulation, the teams will make decisions over a number of rounds (each round is a year in the life of the company) which will be delivered to the Chief Executive of the parent company (NBS Motor Holdings Ltd) who will analyse them. The results, in the form of a computer-generated report, will be provided to each team at the start of the next round.
The Business Simulation seminars will take the form of shareholder meetings. Each team will make a short presentation reviewing the performance of their company in the previous round and identifying key areas where the performance and management of the business can be improved.
The objective for each team is to maximise the shareholder value of their company at the end of four decision rounds.
To complete the assessment detailed below, it is essential that each team keeps a detailed record (minutes) of team meetings including notes of the decisions made, the rationale for these decisions, and the role(s) of team members.
Assignment A (25% of module mark)
Detailed instructions and indicative marking:
Each student will submit an individual report, based on the simulation output and experience. As an individual piece of work, you should assess this independently (i.e. not as a team exercise). Students should not share their report or analysis with fellow team members. However, students can share the material from the simulation, i.e. decision forms, team meeting minutes and the computer output.
The report has a word limit of 2,000 words and should have the following structure. The words shown after each section are indicative and are not word limits.
|1. Front page – Module Code, Student ID, Group and Team Numbers
|2. Contents page (with page numbers)
|3. Introduction (5%, 100 words)
Strategic Objectives for your company at the end of the simulation. These include the objectives that your team agreed at the beginning of the simulation. They can be a mixture of open and closed objectives but there should be enough measurable (SMART) objectives to evaluate the success of the company at the end of the simulation.
Competitive Strategy. What was the intended strategy at the start of the simulation? Why would your Differentiation or Cost Leadership strategy create an advantage over your competitors? What market segment were you targeting?
|4. Critical evaluation of the company performance (50%, 1,000 words)
Present a table showing the following key performance measures over the four rounds:
Production (units) for each model Sales (units) for each model
Unsold stock (units) for each model Sales revenue for the company Profit after tax
Bank balance Outstanding loan Shareholder Funds
Critically evaluate the performance of the company from the perspective of the key business functions. Explain the links between actions, outcomes, and strategy clearly. Where possible you should also apply referenced business frameworks and theories to illustrate your actions and learning (NOTE: a detailed discussion of the theory is not required).
Comment on the trends in the above measures over the four rounds of the simulation, linking these to decisions made during the simulation. Did you change the competitive strategy during the
|simulation? If change in the competitive strategy was required how was this strategic change managed within the company?
|5. Critical evaluation of and reflection on decision making (25%, 500 words)
Base this answer on the MARKETING aspects of your decision making within the business simulation:
How effective and responsible were your marketing decisions? Have you considered the impact of your marketing decisions on the company’s stakeholders?
Provide evidence of how your marketing decisions were influenced by appropriate academic theory.
How effective was your company demonstration of functional interdependence? In short, demonstrate the effectiveness of your marketing decisions in combination with the other key functional areas.
|6. Critical evaluation of teamworking in the Business Simulation (15%, 300 words)
Provide with a link to appropriate theory from your Leadership and Management development module, a critical evaluation of the of the performance of the team and a personal reflection on your role in the team.
|7. Conclusion (5%, 100 words)
Was your company successful? Explain your answer with respect to exceeding, meeting or not meeting your pre-defined SMART objectives.
How would you improve the performance of the company if you played the simulation again?
|8. References – see later guidelines on the assessment marking grid.
|9. Appendices and Tables/Figures
There should be NO appendices used in your report.
Tables and graphs are an essential part of the report. These main tables and graphs should be included in the main body of your report, located in the relevant sections of the work. The limit of tables and graphs is a MAXIMUM of 12 in total for the two types of display.