Suitability and application of selected tools of Strategic Management to Simulation Games (Global Management)
Suitability and application of selected tools of Strategic Management
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Seminar paper from the year 2020 in the subject Engineering - Industrial Engineering and Management, grade: 1,3, University of Applied Sciences Georg Agricola Bochum (Wissenschaftsbereich Elektro-/Informationstechnik und Wirtschaftsingenieurwesen), course: Simulation Game, language: English, abstract: This thesis deals with the necessary of using management tools within a business game. In the first descriptive part, it critically examines the common management tools mentioned in the literature. It is limited to the treatment of three tools: The Ansoff Matrix according to Harry Igor Ansoff, Porters Five Forces (industry structure analysis) and the Business Model Canvas according to Alexander Osterwalder and Yves Pigneur. In the following analysis, the work applies these tools practically to the fantasy company, "Xeltronics 1". What does strategic management deal with? In the Anglo-American literature, management is used in two variants of meaning. On the one hand, management in the functional sense aims to describe the processes and functions, such as planning, organization, leadership and control, that are necessary in organizations based on the division of labor. Management in the institutional sense describes the people, who perform management tasks, their activities and their roles. There are the two main components of the strategy term are the time element and the reference object. According to their ethymological origin, the terms strategy and strategic are strongly associated with the term "longer-term". It is difficult to determine precisely when strategic management was established as an independent field of research. The year 1977 is mentioned as the "year of birth", for example, when a conference was held at the University of Pittsburgh in the USA, whose contributions were presented in 1979 by Schendel and Hofer under the title "Strategie Management. A New View of Business Policy and Planning". Behind the term "strategic management" is a management
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