Strategic Decision Making in Competitive Environments

In this course, we will use Cesim’s ‘SimFirm’ simulation tool to practice essential competitive and operational decisions made by managers in real life. SimFirm is a business management simulation program that integrates the functional areas of production, marketing, and logistics. It increases the participants’ awareness of operating a company from a general management perspective.

The simulation integrates a range of concepts from various management related disciplines, including marketing, production, logistics, and financial decision making. In addition, it links the organization to the wider context of the business world and other stakeholders.

This course uses a web based simulation with a graphical interface in which participants enter their strategic decisions. The task for the teams is to manage the sales and operations of an international pharmaceutical company. Key success factors include accurate forecasting and planning, analytical approaches to decision making and good teamwork. Teams will develop and execute strategies for their simulated company operating in different markets with specific customer behavior, cost structures, and currency fluctuations. Teams will compete against each other and focus on cumulative earnings as the winning criteria.

By the end of the course, participants will be able to:

• Increase awareness of operating a company from a general management perspective
• Recognize the interactions among various companies and external influences in a complex and interrelated environment
• Interpret and forecast market situations and market results and translate them into goal oriented decisions
• Use fact based analytical decision making techniques by linking the decisions to cash flows and bottom line performance
• Utilize teamwork and problem solving methods in a dynamically evolving marketplace

All managers and business professionals who are involved in supporting the planning and strategy of their department or organization, as well as those who are involved in core business or support department management and supervisory roles.

• Strategic decision making
• Financial analysis
• Business forecasting
• Sales and marketing skills
• Critical thinking
• Production and logistics management
• Teamwork
• Quality management

This is a highly interactive course using Cesim’s web based business simulation game. Participants will be provided laptops for the duration of the course.