BUS 400 4-2 Harvard Business Review Simulation and Journal

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Nov 24, 2024

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1 4-2 Harvard Business Review Simulation and Journal Harriet Creyer 4-2 Harvard Business Review Simulation and Journal Southern New Hampshire University BUS – 400 Driving Business Opportunities

2 4-2 Harvard Business Review Simulation and Journal 4-2 Harvard Business Review Simulation and Journal Throughout the simulation, the dynamic interplay between Cost Structure and Key Resources played a critical role in shaping our company's business model, growth trajectory, and strategic direction. 1. BMC segment changes : How have the selected BMC segments changed over the various generations? As my simulation of Creyer Creations went through its second run it went through a couple of different transformations. Previously I went through more of an emotional based decision process but once the emotions were out of it and I focused more on Cost Structure and Key Resources it made the decisions easier. In the early stages I focused more on minimizing cost and keeping everything ‘as cheap as possible’. The choices made throughout streamlines the cost structure, enabling Creyer Creations to offer competitive prices and swiftly attract a modest customer base. However, as the business grew and matured, so did the competition, I saw there was a need to review the resources and the direction we took the business. We initiated in-house product development to enhance our value proposition and meet the evolving demands of our customer segments effectively. This shift altered our cost structure, as it mandated increased investments in research and development. Furthermore, as we expanded our footprint into new markets and diversified our customer segments, we had to adapt our value proposition, customer relationships, and distribution channels to cater to these distinct needs. 2. The effect of decisions : How have your decisions affected the BMC segments? My decision had big consequences on the BMC segments, particularly on Cost Structure and Key Resources. The changes from more of a fixed cost structure to a more

3 4-2 Harvard Business Review Simulation and Journal variable one with the IPO was a result of the choices and investments. With a loyal customer base willing to follow us with all of the changes gave us the revenue and profitability. Balancing increased cost structure with pricing strategies became complex. I had tough choices to make ensuring I didn’t lose our customer and we could justify price increases. This required meticulous financial analysis to maintain competitiveness while preserving profitability. 3. Explore your decisions : How did you come to your decisions? My decision-making process was less emotional than the first simulation where I tried to keep it more family orientated; it was more grounded and levelheaded during this time round. I listened/read all the advice regarding market analysis and feedback. This proactive approach allowed us to adapt our BMC segments iteratively, ensuring they remained in sync with the evolving market dynamics. Market analysis entailed assessing the demand for our products or services, evaluating the potential for growth, identifying emerging trends and growing the company with those trends. 4. Assess your decisions : Do you believe you made the right decisions in the simulation? Why or why not? I believe that the decisions we made during the simulation were the right ones. While these choices indeed escalated our cost structure, the subsequent surge in revenue, improved customer loyalty, and enhanced brand image convincingly justified these investments. The ability to adapt our BMC segments, particularly the Cost Structure and Key Resources, was essential in navigating the business. It allowed for shifting market dynamics, remain flexible in the face of competition, and consistently deliver to our customers. The investment in in- house product development to create a larger product range, that were not only innovative but also tailored precisely to meet the needs of our target audience. While our approach to

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4 4-2 Harvard Business Review Simulation and Journal decision-making was more strategic this time it ensured that our choices were well-informed and grounded in real-world insights.

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