Reflection On Strategic Management

As a Master of Business Administration student, I have to learn efficient strategy management tools. During my study of Strategic Management course at Flinders University (BUSN9261), I have learned about balanced scorecard which is a useful tool in term of prediction business strategy outcomes by measuring the business performance. As a part of my learning process I have to play a role in a simulation game about the balanced scorecard. This simulation game has been provided by Harvard Business School in order to allow students to use a scorecard through examining a real firm strategy and monitoring its performance over the time.

In order to prepare for the simulation, the first thing I did was to read the Delta/Sigma Crop case study and some instructions documents such as, How To Play and Guide To Case Study. As a team we met up to discuss the firm current situation to select one strategy among the three proposed strategies and based on the current situation of the firm we decided to go with the Low Lifetime strategy which does not need more investments and we think it meet the firm strategic priorities. Then we started preparing a strategy map to select the objectives

Firstly I realize that it is very important for people to understand their company’s strategy in order to work as a team because teamwork is the main key to success in any business. Secondly, I found that implementing scorecard can be both positive and negative. The positive aspect is that it gives you a clear idea about how to link between your objectives and predict outcomes. The negative aspect is about the difficulty of developing a balanced scorecard. This difficulty is about developing it from scratch or making a change in the strategic objectives or even prioritizing among set of corporate strategies. In fact, I found that implementing a scorecard takes more time and puts more pressure on the top management