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Assessments and Simulations |
Building Your Business Acumen: Strategic Business Management via Business Simulation
Dr. Goutam Chakraborty — Director of MS in Business Analytics and Data Science, holds the SAS® Professorship in Marketing Analytics, and Professor of Marketing at Oklahoma State University
The seminar is based on a powerful business simulation that allows you to learn how to manage a company in a realistic yet entertaining way. Rather than starting in the middle of a story with a mature firm, the simulation mimics a new venture situation. Teams evaluate market opportunity based on marketing research reports, choose a business strategy, evaluate tactical options, and make a series of business decisions as they take their fledgling business venture from inception through 1.5 years (6 quarters of decision periods) of operations. In a team, you play the simulation against one another with the assistance of a coach (instructor). At the end of each quarter, the results are quickly fed back to the teams and the next round of decision-making begins. The simulation is designed to broaden your understanding of target market selection and positioning of brands in that market, value creation in product design, cash flow planning, profitability analysis, and strategic plan - ning and management. This simulation is sponsored by the School of Marketing and International Business and the Center for Executive and Professional Development in the Spears School of Business. You earn 1.8 continuing education units (CEUs) upon completion of this seminar. » KORN FERRY COMPETENCIES Business insight | Communicates effectively | Manages complexity | Financial acumen | Organizational savvy | Resourcefulness | Drives results | Strategic mindset
SEMINAR OUTLINE
I. Strategy and tactics A. Evaluate your firm’s performance in prior quarter by function and for the organization as a whole B. Review and revise your strategy in light of your assessment and the new funding that may be available II. Investments and finance A. Decide how to best use the new investment funds (invest in R&D, sales outlets, and/or additional plant capacity)
B. Borrow money from bank to help aid expansion plans (optional) C. Evaluate and adjust your firm’s employee compensation packages D. Check pro forma cash flow
The Center for the Future of Work in the OSU Spears School of Business offers various certificate programs and customized professional development.
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