Managing For Value Creation Reflect On The Simulation Of...

Below is my understanding of how the concepts, I have learned so far, in Managing for Value Creation reflect on the simulation of SmartMart. Set out your overall strategy for SmartMart, explaining why you elected to follow this strategy, and how each decision you made contributed to this strategy. The strategy I elected was driven from the Mission and Values of SmartMart. Which is to create SmartMart as a niche store and provide its customers with a customized local experience while keeping in view all the stakeholders. Therefore, each decision I made contributed in increasing value for suppliers, customers, shareholders, etc... While maintaining the competitive advantage and differentiation factors of SmartMart. Such as, customer service, brand value, commitment to organic products, etc... Which I analyzed from the value chain (Appendix 1) of SmartMart. The other key tool specifically used for assessing each scenario was Porters five forces. â€Å"The corporate strategist’s goal is to find a position in the industry where his or her company can best defend itself against these forces or can influence them in its favor.† (Porter, 1979)(Appendix 2) Furthermore, there is a strong focus on creating shared value for every stakeholder in the Company. Thereby, the strategy was to maximize value for all stakeholders’. Each scenario was assessed by weighing on the options on the shared value they created. Some of the choices presented difficult decisions, which is discussed later in the