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BSG REPORT L COMPANY

Introduction

To successfully operate and manage a company may be difficult for anyone, especially those who have never run a business in the real world. The Business Strategy Game Simulation provides people with the opportunity to know how to run a business successfully. BSG also gives people the platform to practice and gain experience in decision making and what it takes to develop winning strategies in the competitive market. In this game, careful decision-making is critical as every decision affects the company's performance, just like in the real business world. This BSG report outlines the business, strategic plan process, industry overview, and good and bad decisions throughout the BSG. Additionally, the report includes key learning points about strategy and a conclusion.

Company Background L Company is a footwear company that focuses on selling high-quality athletic shoes around the world. Our company vision is to be a benchmark in the market, with admired and favored brands in our sector. The company offers the best quality and advanced design athletic shoes to its customers at best possible price . The clients will be amazed by the outstanding and exemplary experience of our quality shoes.

Mission Statement Our mission is to fulfill our client’s dreams, desires, and expectations, with motivated and satisfied staff, generating returns with sustainability, maximizing return to shareowner’s while

being mindful of our overall responsibilities. L Company adopted differentiation as our business strategy (Jan E, 2009) to develop and produce quality athletic shoes at a high SQ rate. With this strategy, the company will be targeting high-income customers at a premium price.

Net Revenue

Earning Per Share

Image Rating

Planned actions over next two years

To outcompete in the next 2 years, L Company would need to do the following: •

Significantly increase investment into advertising to create brand awareness

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More investment in workers training and better workplace environment

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Investing more money in every other region than our company did last year.

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Significantly increase the number of endorsements deals that we execute. In the last years to attract market

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All companies were making the same quality shoes and created a pricing war. The concern is that if you bid too low, you can take a loss on the cost of production.

•

To out compete, we should implement a strategy of producing a slightly better-quality shoe (S/Q 12). This will be creating a new pricing dynamic. We can be more aggressive in our pricing. This should result in increased sales

Lesson Learned

From my perspective, the primary purpose of playing a Business Strategic Game is to give students the platform as top business management to make effective decisions about the company. Throughout the Business Strategic Game process, students can learn business strategies in terms of the industry environment and the company's performance because making the decisions is not an easy task since it requires a complete analysis of both internal and external factors. Key lesson learned are as following 

It is crucial to evaluate the industry and competitors to develop plans and improve its market share, productivity, and performance. This can easily be done by applying the Potter's five forces to guide the company to evaluate industry competition, predict future opportunities and threats

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Develop a company identity. Do you want to be high-end brand, low end brand etc.

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Stick to your strategy! Be who you are! Do not make sudden and drastic changes to your approach.

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Make minor adjustments based upon the threats presented by your competitor

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Develop an Operating, Sales and Advertising strategy for how you intend to achieve the identity that you have identified

Conclusion

In conclusion, Business Strategic Game provided us with a treasurable opportunity in running a business. It also offered a chance to practice business planning and decision making in a competitive market environment. The finding of playing Business Strategic Game is an organization requiring an excellent management team to make decisions on business strategy for the entire company operations, controlling resources, and supervising results to survive in the competitive marketplace....