Senior Sim Essay -- Essays Papers

Senior Sim Before start playing the game and building up my corporation I have developed a strategic plan and I have set specific and attainable goals. My target was the maximization of profits in the long run and at the same time the satisfaction of customer needs. My target groups would be the entire market, including all the market customers even of different age, genre, sex, status, income, preferences because I am going to sell products which are consumed every day. After defining the name, the goals and the mission statement of my corporation, my first move was to find a good location for building up my department stores. Therefore I chose a city with a maximum number of potential customers (large population), with low or no competition, as well as with a close path to the ports so as to have minimal transportation costs. Therefore, before I started setting up the buildings I had to make a market research in order to find the profitability and the competitiveness of the target market and accordingly create a business strategy. Therefore, it was important to find a target market with low or no competition and with many potential customers as I stated before. So, after doing the market research I decided that the best market to enter was that in London, first, because it was large enough, and second because no competition existed there at that time, meaning many potential customers. Then, I had to decide where exactly to locate my department store in London. A store in the heart of downtown malls implied a large number of customers but at the same time, very high land and building up costs. I wanted to be an aggressive businessman so I decided to build my store in the heart of the town despite the high costs. I wanted to be the first corporation who would penetrate the market of London and I wanted to be successful and build a strong base. My next step after building my first department store was to have my port in order to bring the products to my store, and to set up the functional units in order for my store to operate. These included a purchasing unit linked with a sales and an advertising unit. The purchasing unit was responsible for buying the products from the suppliers and bringing them to the department store. Linking the purchasing with the sales unit enabled the products to move onward to the sales unit ... ...lace to build a new department store. Once more, I followed the same procedures in selecting the location as well as in setting up the functional units and managing the purchase-sales and advertising teams. In Sheffield I sell Chocolate Milk, Peanut Butter, Frozen Beef, and Lettuce. In addition to these strategies, when investing, I was also keeping an eye on the stock market. Profits could also be gained there, especially when buying another corporation's stocks, because buying a large stake in rival was probably a prelude to a takeover. This could benefit me not only from the rising stock price as the takeover would move along, but also when it would complete and the two merge, I would own stock in the parent. My principle always was that a frequent self-performance analysis would be essential for obtaining a profitable corporation. This implied looking upon the profitability, sales, shareholder value, customer satisfaction, product quality, brand associations, relative cost, employee attitude and performance and portfolio analysis. Depending on the results of the analysis I was planning my new strategies and of course expanding my department stores to other cities.