We have completed our first 3 years in the simulation. I need an overview of the last 3 years and then a strategic plan to accomplish the next three years remaining for our simulation. I have attached the report of our progress already. Our team name is CELL TECH!!!
Simulation is: “You are the CEO of a smartphone manufacturing company. Your goal is to generate as much profit as possible. The market is established, so your focus will be on winning market share from competitors. ”
Preparation of a 3-Year Strategic Plan involves 1. Stating a strategic vision for the company in a brief paragraph. What is it that you are striving for? Think of this as your team’s vision statement — what are your broad goals for the next three years? 2. An introductory paragraph that discusses where your team is in the simulation — what have you done up until now, what has been driving your decisions, what is your performance like? Just provide an idea of your current status in the simulation. 3. Based on (2) above, discuss your current strategy and note whether your current strategy is either on track or will require substantial internal changes; 4. Declare what strategy the company will employ, why you chose the strategy, and how you will deploy it. This will be based on your current status in the simulation and you will choose a strategy based on improving your status. This is not an action, but a specific strategy (e.g. market development, product development, market penetration, etc.); and 5. Establishing financial objectives for total revenue, profits, cash flow, and stock price appreciation for each of the next three years. You should also have a projected income statement that lays out expected unit sales, revenues, costs, and profits for each of the three geographic regions for each of the next three years. When you create your financial projections, be sure that you state your assumptions as well.
