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Strategic Management Task 1

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Submitted By cpfaff1987
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A. Submit your company’s final cumulative balanced scorecard, income statement, and balance sheet.

B. Discuss the generic competitive strategy that your team selected for your company. Include the following in your discussion:

I utilized a purely online strategy, to minimize costs and emphasize product quality. By using only online centers, I was able to cut cost from having a physical location, and lower the overhead that I would have
•? What actions were built into your strategic plan to achieve competitive and financial success with that strategy
•? Why your team selected the strategy you used

My mission was to create a product that was efficient and cost effective. We chose a narrow portion of the market, and provided only online sales. While we may have limited ourselves, we also eliminated a lot of risks. Our goal was not to be the most profitable nor competitive company, but merely to make a profit and pay the bills while providing a quality product, which we did.

1. Evaluate the effectiveness of your strategy. In quarter 8, we had a gross profit of 3,430,644, and a net income of 1,027,792 while providing a quality product. Our goal was to make a profit, while providing a quality product, and we did.

C. Evaluate your team’s ability to identify competitors’ strengths, weaknesses, and strategies during the simulation.
1. Discuss how successful your team was in predicting your competitors’ next moves. My team was not successful in predicting our competitors' next move. Our goal was not to out-gun other companies. Our goal was to create a product, based off the market analysis, provide that product at a competitive price, while keeping production and overhead costs low.

D. Discuss how sustainable the most dominant competitive advantage achieved by any company within your industry was. I didn't utilize the market research. My goal was

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