Management theory is quite easy to read and understand but
how can one get the practical feel of it. One of the most common remarks by
employer’s of Management graduates across the world and especially in India is
that they are not “Industry-Ready”.
The solution: Involve them in an Industry, running companies
over a relatively long period 10 years, colleagues being either your partners
or competitors using tactics, counter tactics and counter-counter tactics using
all the management concepts you learn to achieve your short-term &
long-term goals.
Hardly any management courses give the students this kind of
an insight and exposure to be able to actually run a company, use all the
concepts learned during the theory classes and finally see the results of
combined decision making by all competitors in an Industry.
ISME students participate in an online BUSINESS STRATEGY
GAME - A battle of wits in a simulated game of strategy.
What is the Business Strategy Game?
It’s an online, PC-based exercise where you run an athletic
footwear company in head-to-head competition against companies run by other
class members.
· The marketplace is worldwide—production and sales
activities can be pursued in North America, Latin America, Europe-Africa, and
Asia Pacific
· There are 12 market segments—4 geographic segments each
for branded footwear sales to retailers, for online footwear sales direct to
consumers, and for private-label sales.
Teams of Company Managers will make decisions for their
respective companies in each decision period representing a year.
· Corporate social responsibility and citizenship (up to 6
decisions)
· Production of branded and private-label athletic footwear
(up to 10 decisions each plant, with a maximum of 4 plants)
· Plant capacity additions/sales/upgrades (up to 6 decisions
per plant)
· Worker compensation and training (3 decisions per plant)
· Shipping (up to 8 decisions each plant)
· Pricing and marketing (up to 10 decisions in 4 geographic
regions)
· Bids to sign celebrities to endorse your company’s
footwear (2 decision entries per bid)
· Financing of company operations (up to 8 decisions)
· Plus there is a screen for making annual sales forecasts
and deciding whether to have inventory clearance sales
All aspects of the game closely mirror the competitive
functioning of the real-world market. The Business Strategy Game puts
participants in a situation where they can apply what they have been learning
the business school.
The broad objectives of incorporating the game as a workshop
were:-
· To appreciate that shooting from the hip is a sure ticket
for managerial disaster!
· Consolidate knowledge about the different functional
aspects of running a company.
· Deepen understanding of cause-effect relationships &
revenue-cost-profit relationships.
· Build confidence in utilizing the information contained in
company financial statements and operating reports.
· Practice in sizing up a company’s situation, making sound,
responsible business decisions, and being accountable for delivering good
results.
The whole concept underlying The Business Strategy
Game is to put participants in as realistic a company and competitive
market setting as possible and have them manage all aspects of the company’s
operations. This allows them to test their ideas about how to run a company in
a competitive marketplace.
What can participants expect to learn?
· You and your co-managers will have to chart a long-term
direction for your company, set and achieve strategic and financial objectives,
craft a strategy, and adapt it to changing industry and competitive conditions.
· You’ll have to wrestle with a full array of industry
statistics, company operating reports and financial statements, and an
assortment of bench marking data and competitive intelligence on what rivals are
doing.
· You’ll have to match strategic wits with the managers of
rival companies, "think strategically" about your company's
competitive market position, and figure out the kinds of actions it will take
to outcompete rivals.