GLO-BUS: An Online Simulation for Developing Winning ... - COPLAC
GLO-BUS: An Online Simulation for Developing Winning ... - COPLAC
GLO-BUS: An Online Simulation for Developing Winning ... - COPLAC
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Tips <strong>for</strong> Success (Cont’d.)<br />
Lessons Learned from the Past<br />
Do know the business<br />
… benchmark rivals and self<br />
Do agree on a long-term<br />
strategy and stick to it<br />
... be internally consistent<br />
Do craft “customer value”<br />
… build the needed<br />
infrastructure and develop the<br />
business model to support your<br />
strategy<br />
Do invest early and often<br />
… initial decisions are critical but<br />
watch out <strong>for</strong> dead ends<br />
Do create effective decision<br />
making process<br />
… organization and complete<br />
member involvement<br />
Don’t be “all things to all people”<br />
or you will be “stuck in the<br />
middle”<br />
… being average is mediocre<br />
Don’t follow others<br />
… watch the competition to<br />
make rapid adjustments<br />
Don’t treat projections as<br />
promises<br />
… use to examine small changes<br />
Don’t try to “game (or blame)<br />
the system”<br />
… evaluate the feasibility and<br />
risks of sustaining your strategy<br />
Don’t panic or make radical<br />
moves<br />
… be patient but persistent<br />
Ben A. Kahn / Paul Miesing “<strong>GLO</strong>-<strong>BUS</strong>” BADM 510-70 Strategic Management MCLA / U Albany
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