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I need some assistance with these assignment. the business strategy game Thank you in advance for the help!
I need some assistance with these assignment. the business strategy game Thank you in advance for the help! It is clear from the discussion that the main strategy used by Big Foot all through the game was best price strategy. Placing our products in the competitive market, ensuring that the price was viable was the only way to achieve maximum profitability of the business. Notably, this was part of the 3-year strategic plan developed by the entire team. Price-concentration was highly effective, and as evidenced by its outcomes, Big Foot footwear was always at the top of all other groups, controlling a sizeable market share, which by 2015 was as high as 51.07%. Concentration on one strategy assisted the organization to maintain increment in value all through the 5 periods it was operational. Most of the applied strategies in the game were all courtesy of the MBA program. Some of the most valuable theories that I learned in when pursuing my masters were the strategies needed for one to compete in a global market. One of the crucial theories learned in class applicable in any business environment is the Porters 5 forces of industrial analysis. Porters five forces were largely applicable in the BSG online game in that understanding the various tools for industry analysis, comparing the success levels of the competition and as well as the prices were largely used through the development of the business strategy for Big Foot company. .The applicability of Porter's 5 forces in any given industry is crucial in the deciding of the business strategy. In the case of Big Foot, for instance, understanding the power of suppliers solely relied on two features which were quality and price (Spulber, 2009, 262). The threat of substitutes is entirely reliant on the price strategy. With our team understanding this reality, we focused all our efforts and creating the best price for the best quality product in the market.