Reflections word count 600-1000
24366 BUSS 3023 Strategic Management Week 6 Simulation Debrief BUSS 3023 Strategic Management Harvard Balanced Scorecard Simulation Debrief Peer reviews Did you remember to review yourself? Private equity valuations 0 20 40 60 80 100 120 140 160 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 And the winner is … • Buyout value of – $138.07 (low lifetime cost) – $111.21 (low initial cost) – $123.73 (customer integration) • Why did they win? – Winning team = 9.6 initiatives fit, but BSC fit of only 80% and 1 dud (why did they still win?) – One team had 5.6 initiatives fit, but 100% BSC fit (buyout $85). Why wasn’t their buyout higher? Grading Grade for HBS Simulation Company $ buyout value per share /Ranking Higher distinction 120 and above OR Top value in the workshop Distinction 100 -119 OR second in the workshop Credit 80- 99 OR third in the workshop P1 60 – 79 P2 40 – 59 Fail No one failed – P2 Does it matter what strategy you choose ? 0 20 40 60 80 100 120 140 160 Low lifetime cost Customer integration Low initial cost All Low initial cost strategy • Initiatives that reduce cost fit BEST with this (just examples) • Low price marketing program • Customer price protection program • Initiatives that reduce cost by improving quality fit WELL with this • TQM training • R&D process efficiency initiatives • What is a “dud” • An initiative that takes up budget but does nothing for this strategy • Assembly line upgrade [ read the tables – it requires leasing the equipment] Low lifetime cost strategy • Initiatives that improve quality fit BEST with this (just examples) – TQM Training – Component quality monitoring • Initiatives that fit WELL with this – Inventory reduction – Supplier optimization • What is a “dud” – An initiative that takes up budget but does nothing for this strategy – Kaizen initiative to reduce defects [ read the case why it does not work] Customer Integration Strategy • Initiatives that fit BEST with this strategy (just examples) – Customer goal sharing – R&D Partnership • Initiatives that fit WELL with this – Customer satisfaction promo – Quality inspection program • What is a “dud” – An initiative that takes up budget but does nothing for this strategy – Promotion of corporate training program [training customer’s employees!] Did you use the whole $25 mil ? What happens if you have a dud ? • Takes vital resources away • Opportunity cost – you are not doing something that will help your company • How do we identify a dud ? – Your metrics – are the metrics improving .. • But my metric never showed a problem ? – Does the metric match the strategy ? – If the objectives/metric do not match the strategy, you will not find out the right feedback at the right time – Draw the connections on the strategy map (either online or on paper) BSC fit? • % initiative spending dollars for which the related metric has been selected Initiatives fit? • Some teams took into account BSC feedback and improved Did you plan ? • The top fit teams planned and picked the initiatives carefully. And practiced! • Some did not – and that led to lower valuations • And some good students overthought Take away points • Financial metrics, while important, are lagging • Different metrics are linked to each other – look for that cause effect relationships in a strategy map • Different initiatives have different time spans to pay off • Fit between strategy, objectives and initiatives • How many objectives –too many ? Too few ? Just right ? Reflection assignment • Where are the instructions? • Where is the rubric/marking sheet? • What is the due date? • What is the word count? • Are references required? Expected? Which ones? Reflection assignment – sources of information • The week 3 tab is a good place to start – 2 Kaplan and Norton articles – Kaplan video • Textbook • Delta Signal Case • Reflection instruction sheet/marking sheet Reflection assignment • What strategy did you choose? Why? • What is the balanced scorecard? How did you apply this in the simulation? • What is a strategy map? How did you use your strategy map (include the map in your appendix) • How did you analyse results? Maybe give one example (I don’t want lists of objectives or initiatives choices). Did you make mid-course corrective changes? Why/why not? • What did you do right? What did you do wrong? What did you learn? • References (minimum) – 2 Kaplan and Norton articles, textbook – Do not cite Wikipedia, blogs, most websites Reflection assignment – words that should appear in your paper • Strategy • Balanced scorecard • Strategy map • Objective • Initiative • Metric • Alignment Feedback Form for Reflections Document Student Name Criteria Grade letter 1. Review of key indicators of performance (out of 20) 2. Highlight key processes related to strategic management and how they evolved eight rounds of simulation (out of 60) a. Overall business strategy b. Selection of strategy map and implementation of initiatives c. Use of balanced scorecard 3. Reflections and lessons learned (out of 20) Overall Grade Comments: This is the website of “Harvard strategy simulation balanced scorecard” Click to Sign in. Account:
[email protected] Password: 963852Qa# http://www.hbsp.harvard.edu/b02/en/common/util_contact_custserv.jhtml And go to “MY COURSEPACKS” Then Click 24366 - Janzon - March 2019 SimulationStrategy Simulation: The Balanced Scorecard V.G. Narayanan March 7, 2019 Click On it, then it will appear “The Balanced Scorecard” These are the few points have to look at I have done this with a group of 3 people it takes 8round of the game period, and I’ve been assigned to Role of “Data Entry” person the other is data analyst, you may see a lot of detail in the files I had uploaded “BSC_How_to_Play”, our team strategic is “Customer Integration” This assignment is a reflection of how I learned from the simulation, I understand the difficult to writing it, because you aren’t participating in the games, so it has to make many thought of it. Text book: https://ebookcentral.proquest.com/lib/unisa/detail.action?docID=4877546 Username: WONCY147 Password: Wong0704 Feedback form Assessment feedback BUSS 3023 Strategic Management Assignment 1 – Reflection (simulation) Student Name: Key components of this assignment Performance on this component Poor Satisfactory (Pass) Good (Credit) Very Good Excellent 1. Identification of business issue(s) (20%) 2. Synthesis of information (20%) 3. Analysis and interpretation (20%) 4. Feasible, adaptive, creative, and meaningful solutions (20%) 5. Structure of Reflection (5%) 6. Grammar, spelling, and punctuation (15%) Specific comments The Graduate qualities being assessed by this assignment are indicated by an X: GQ1: A body of knowledge X GQ5: Ethical action and social responsibility X GQ2: Lifelong learning X GQ6: Communicate effectively X GQ3: Problem solvers GQ7: International perspective X GQ4: work both autonomously and collaboratively Assignment grade/mark UniSA Peer Assessment Form BUSS 3023 Overview Working in teams is an integral part of any manager’s life, and the group assignments used for courses in this program aim to help students develop their skills in working effectively in a team setting. Part of working effectively in a team involves contributing to the way the team functions and performs—bringing out the best in our own performance and helping others do the same in a way that maximises overall team performance. Being able to assess our own performance and the performance of other team members is one way in which we can develop our team performance skills. As part of the team project for this course, this assessment of our own performance and that of other team members, is formalised through a Peer Review process. When a group of students work collaboratively on a task or an assignment that is graded as part of the course assessment, it is a requirement that all team members report on their perceptions of their own contributions and that of others in the group, via the form below. Usually, all members of a group will individually receive the grade (in component a of the Project grade) that the assignment or task is awarded. Specifically, if you receive a score of 5.0 or higher from your teammates, your team simulation score will be recorded as component (a) in the Gradebook. However, a poor contribution by any member, as reported by other members, will result in a reduced grade for that member. More specifically, if your teammates rate your contributions as unsatisfactory (average score of 1.0-4.9 from the other team members), or if you fail to submit your Peer Assessment table (p. 2), your component (a) score will be divided in half. This is consistent with the policy in the Course Outline. Action Please assess each Group member – including yourself - for these attributes displayed during the Group work: 1. Commitment and reliability toward meeting team’s objectives: Attended meetings and participated; dependable team member; high quality of work output, produced results, got work done on schedule. 2. Effective and equitable contribution: Contributions frequently showed solid preparation, initiative and imagination; shouldered a fair and equitable amount of the workload. 3. Facilitation of a collaborative team environment: Contributions were constructive and beneficial for harmonious team climate; cooperative, receptive to criticisms and suggestions, worked well with others. Please put a score against each team member’s name using a 1 - 10 scale where: 1 = a free rider, contributions were well below my expectations of a team member and did not adequately do the work requested of them 5 = a sound contributor, met most of my expectations of a team member 10 = an outstanding contributor, exceeded many of my expectations of a team member. Your Name John Wong Your Student Number Group Name Five Course name Attributes (Score 1 - 10) Comments Group member (List by name) Commitment and reliability Effective/ equitable contributions Facilitation of collaborative team env’t Please comment on your reasons for applying the ratings you have (use the additional comments section if you need to elaborate) 1. Madeleine 10 10 10 constantly brings logical thought which assists creative problem-solving. 2. Udani 10 10 10 can explain own ideas listen