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Why Attend
In this course, we will use Cesim’s ‘SimFirm’ simulation tool to practice all essential decisions made by managers in real life. The tool is a product based business management simulation 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 stakeholders.
Course Methodology
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.
Course Objectives
By the end of the course, participants will be able to:
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Increase awareness of operating a company from a general management perspective
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Recognize the interactions among the various companies and external influences in a complex and interrelated environment
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Interpret and forecast market situations and market results and translate them into goal oriented decisions
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Use fact based analytical decision making techniques by linking the decisions to cash flows and bottom line performance
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Utilize teamwork and problem solving methods in a dynamically evolving marketplace
Target Audience
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.
Target Competencies
Strategic decision making
Financial analysis
Business forecasting
Sales and marketing skills
Critical thinking
Production and logistics management
Teamwork
Quality management
Course Outline
The power of business management simulation
How the Cesim SimFirm simulation can maximize your company performance
Familiarizing teams with the case study
Factors affecting market size
Sales and marketing decisions
Distribution and delivery priorities
Production decisions
Financing decisions
Conducting a practice round using the simulation platform
Discovery learning during decision rounds
Studying and interpreting market outlook
Calculating product level gross margin and distribution priorities
Managing optimal inventory levels without losing potential sales
Balancing investment in promotion and quality improvement
Choosing the best pricing strategy
Making the right production plan
Selecting financial decisions to support your annual plan
Strategy: the game plan towards achieving your vision
Surpassing the competition with the four elements of the strategy pyramid
Planning for victory through determining where to play and how to win
Applying Porter's grand strategies
Guaranteeing results by turning strategy into action
Teamwork: the secret weapon of sustainable strategy execution
Taking the team from formation to full potential performance
Leading a team through clear skies and storms
Eliminating conflict to achieve a common team goal
Product quality: building a product that your customers desire
Investing in the organizational engine – production and logistics
Maximizing quality to build a lasting customer impression
The 'PDCA' cycle
Supply and demand management: embracing the customer’s perspective
Mastering price elasticity of demand to retain and grow your customers
Managing production and delivery levels for lean operations
Creating a profitable product portfolio
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