Week 3 Discussions and Required Resources – this is a two-part assignment
Assignment must be at least 150 words unless otherwise noted. Please read all attachments and follow ALL instructions.
To receive full credit you must include at least 2 citations of scholarly support to your answers for each discussion post (i.e. Discussion One – 2 citations, Discussion Two – 2 citations). Citations should be within your post and include (Author, year, page number) if you are using a quote, page number is not required if you are paraphrasing. Just listing references and not using them in your post does not count as a citation or support. You can use your textbook as scholarly support and remember to include a reference for the support cited.
In your responses to the discussion questions, journals, assignments and the final paper please avoid contractions. Examples of contractions – I’m, I’ve, isn’t, hadn’t and all the rest. Also, avoid etc since we do not know what it is. Avoid starting a sentence with “And.” The usage of the above mentioned would result in a lower grade.
The simulation learning experience will consist of the following: You will be managing and leading a business, called HISCO (in the Medical Equipment Industry), for an entire year (four quarters) and will have to deal with numerous issues in balancing short- and long-term priorities. The terms Qtr. 1 and Q1 are used interchangeably throughout and refer to Quarter 1 of your business. You will have a wide variety of resources at your disposal (Help Desk, faculty, review videos, and data). There will be a pre-test to ensure that you are prepared for the year, Quarterly and Annual Operating/Business Reviews, and finally, the development of an annual report after you have lived the excitement of creating the results through your decisions each quarter. Playing a quarter competitively and analyzing results of your decisions will be the primary source of formal knowledge. Naturally, you will be expected to keep up with the weekly activities which build upon each other.
There is a need to present peer review Journal articles for the discussion questions, assignments and final paper.
What Makes a Good Business Strategy?
Prior to beginning work on this discussion forum, read Five Steps to a Strategic Plan, The Single Strategy You Need to Fuel Business Growth Right Now, and Aligning Brand Portfolio Strategy with Business Strategy. In 150 words or more, what are three or four components of a well-thought-out, achievable, and reasonable business strategy? What mistakes do companies make when developing their strategies? These thoughts should be qualitative and generic – not discussing/ providing specific applications of how you may have gleaned competitive advantage (e.g., describing your business strategy).
NOTE: the links to the articles mentioned above are below in the Required Resources section
Week 3 Journal
Include a cover page and 1 page of reflection regarding what new learnings you’ve taken away from the week’s activities, readings, videos, and other information you found noteworthy. In particular, give consideration to making adjustments to implemented strategies from a previous quarter of operations. Your journal should reflect the importance of being able to effectively analyze outcomes of previous business quarters and making adjustments.
Aileron. (2011, October 25). Five steps to a strategic plan Forbes. Retrieved from https://www.forbes.com/sites/aileron/2011/10/25/five-steps-to-a-strategic-plan/#3199e5254645
· The full-length version of this article is available through the www.forbes.com database. This article provides information about steps that can be taken that develop strategic thinking and strategic planning and will assist you in your What makes a good business strategy? discussion this week.
Paunovic, G. (2017, December 6). The single strategy you need to fuel business growth right now . Forbes. https://www.forbes.com/sites/forbesagencycouncil/2017/12/06/the-single-strategy-you-need-to-fuel-business-growth-right-now/#35b9fdd42c59
· The full-length version of this article is available through the www.forbes.com database. This article provides information about driving the growth of your business by developing strategies that enhance customer experiences and will assist you in your What makes a good business strategy? discussion this week.
Uggla, H. (2015). Aligning brand portfolio strategy with business strategy. IUP Journal of Brand Management, 12(3), 7-17. Retrieved from http://www.iupindia.in/Brand_Management.asp
· The full-length version of this article is available through the Ebscohost database in the Ashford University Library. This article provides information about developing four approaches that help to align a company’s brand portfolio strategies with its business strategy in order to create market opportunities and will assist you in your What makes a good business strategy? discussion this week.