24366 BUSS 3023 Strategic Management Week 6 Simulation De
ief
BUSS 3023 Strategic
Management
Harvard Balanced Scorecard Simulation
De
ief
Peer reviews
Did you remember to review yourself?
Private equity valuations
0
20
40
60
80
100
120
140
160
XXXXXXXXXX XXXXXXXXXX XXXXXXXXXX 24 25
And the winner is …
• Buyout value of
– $ XXXXXXXXXXlow lifetime cost)
– $ XXXXXXXXXXlow initial cost)
– $ XXXXXXXXXXcustomer 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 XXXXXXXXXXOR second in the workshop
Credit XXXXXXXXXXOR third in the workshop
P1 60 – 79
P2 40 – 59
Fail No one failed – P2
Does it matter what strategy you choose ?
XXXXXXXXXX XXXXXXXXXX
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
elated 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
ight ?
Reflection assignment
• Where are the instructions?
• Where is the ru
ic/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 co
ective 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 pape
• 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: XXXXXXXXXX
XXXXXXXXXXPassword: 963852Qa#
http:
www.hbsp.harvard.edu
02/en/common/util_contact_custserv.jhtml
And go to “MY COURSEPACKS”
Then Click XXXXXXXXXXJanzon - 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/li
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
Poo
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—
inging 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 XXXXXXXXXXfrom 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 XXXXXXXXXXscale 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 membe
10 = an outstanding contributor, exceeded many of my expectations of a team member.
Your Name
John Wong
Your Student Numbe
Group Name
Five
Course name
Attributes (Score 1 - 10)
Comments
Group membe
(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
ings logical thought which assists creative problem-solving.
2. Udani
10
10
10
can explain own ideas listen