Strategic Management Course with Online Business Simulation

Course objectives / Learning objectives

To develop long-term thinking and an understanding of complex decision making and the strategic importance of cooperation between different corporate functions. Participants can learn how to face complex decisions by seeing the bigger picture, taking into account the needs and contributions of every functional area of the company, thereby fostering cooperation.

During the simulation participants will be forced to think and make decisions for the long run, but they also need to balance the short term and long-term goals of the company. Participants will learn about different theoretical frameworks and techniques of strategic management.

Topics covered

• Key concepts, frameworks and tools of strategy formation
• Long term strategic thinking, planning approaches and strategy implementation
• Integration of functional areas when making strategic decisions together
• Real-life situations, complex decisions
• Industry analysis
• Awareness of the financial consequences of decisions
• Developing long-term competitive advantage on the market
• Viewing the company as a whole
• Develop the company’s mission and vision. Set the goals and plan the necessary actions to reach that goal.

Participant learning outcomes

• Understand why joint decision-making is important. Each team member contributes to the strategic focus points in HR, research and development, sales and finance.
• Understand the market’s effect on long-term decision making, realize that market changes can affect your strategy, therefore you need to react quickly on complex problems.
• Develop strategic thinking about sustainable growth and optimized resource management. Analyse the organization, determine strategic directions.
• Raise awareness of competitors’ effect on your market situation
• Create advantage through innovation: in some simulations the markets can turn upside down, therefore companies need to react in time and innovate to keep growing and competing.
• Learn to think critically in relation to a particular problem, situation or strategic dilemma.
• Understand abstract models and theories better through practical knowledge transfer
• Define and use financial measures of strategic success

Who should attend?

• Managers who need an insight into the issues of Strategic Management and its application.
• Business school or university students with strategic management related courses.
• Corporate teams of functional leaders.

Suggested training outline

The following structure is suggested during the course:

1. Introduction to strategy and strategic planning (1-2 hours)
2. Introduction of the simulation environment and explaining the rules (0,5 - 1 hour)
3. Setting the targets for the teams - (0,25 hour)
4. Participation in the SimTeam simulation to experience market changes and competition among teams (2-6 hours)
5. Focused topical exercises (during the simulation): setting strategic goals, assessing market events and adapting the strategy to possible market changes and competitors’ actions
6. Evaluate the simulation and the participants’ strategies, giving feedback (0,5 - 1 hour)

Total time requirement: 0,5 - 1,5 days