Strategic Management

Strategic Management

A. Analyze how successful your team was at strengthening or compensating for resource weaknesses at a key point during the first four quarters of the simulation.

The new firm faces various problems when it starts the business. The method of decomposing the organization must be represented as a set of components and subsystems. In the simulation, the organization must specify what attributes and functionality of each element has a system, what are the connections between them, as well as interact with the "outside world". In addition, for each element necessary to describe a list of documents to which it has access and what actions can carry this item over each document type.The main problems faced by a new firm in the first four quarters of simulation are the financial resource and the human resource. The organization has to ensure that all of its departments are allocated with equal and appropriate budget. In then first four simulations, through proper market research, these two aspects of the organization were determined. This is the reason why the market research is very essential for the proper running of the organization. Through the market research, in the first four simulation, the lack of sufficient and relevant resources like financial resource and the human resource were determined and the team was able to determine the problems in the first four quarters which helped the organization to run effectively (Spulber, 2007). During the first quarter of the simulation, the resource weaknesses was overcomed through strengthening the resources of the organization, more specifically the financial and the human resource. The analysis and financial planning are core activities of the function financial non-existent in the small organizations, reflected in problems that can account for the failure of a company. On the other hand, decision investment and financing are activities that were performed according mediate needs of the company and opportunities that arise.

As the finance function of the organization helps in organizing an activity those impacts directly to business development, this is why it is important to identify and analyze financial problems faced by the organizations and to examine the implement business solutions to resolve the problems (Porter, 2000). This is the weakness which can be faced by our organization. For overcoming this weakness, the organization has to design an effective financial budget plan and allocate the finances accordingly to all the departments. The given budget must be effectively allocated so that the running of all the departments can be done in an effective manner. The financial environment of enterprises is a determining factor in the success of an organization, especially in micro and small company where its limitation forced to allocate financial scarce possessing resources more efficiently to survive, be maintained and ultimately profit.

Through the market resource in the first four simulation, the team was able to allocate sufficient resources to each department and all the departments endured that the finances were effectively accommodated in the most productive work. Different strategies were employed to come up with ways ...