Include a cover page and 1-2 pages of reflection regarding what new learnings you've taken away from the week's activities, readings, videos, and other information you found noteworthy. In particular, give consideration to making adjustments to implemented strategies from a previous quarter of operations. Your journal should reflect the importance of being able to effectively analyze outcomes of previous business quarters and making adjustments.

Learning Outcomes

This week students will:

- Demonstrate the ability to balance managing for the short-term and leading for the long-term to ensure you not only meet and/or exceed your financial targets within your budget/plan but are creating shareholder value for the long-term.
- Prepare quarterly decisions.
- Prepare Quarterly Business Review (QBR).
- Demonstrate your ability to adjust the strategies of your employer.

Introduction

Managers of businesses small and large implement plans with financial and production targets on a quarter by quarter basis. In Week 3 adjustments to your plan will need to be made. The goal is to stay within budget while controlling expenses. Week 3 begins the Quarter 2 of HISCO operations. You will now be able to gauge how well your strategy is working by the results that were generated in Quarter 1. It is normal to make adjustments in order to maintain or increase the profitability of the company and to remain competitive. Also in Week 3 greater attention will be given to the importance of aligning all strategies with overall goals for business operations. Most businesses have strategies that drive their marketing mix. In particular businesses operate off of product strategies, pricing strategies, promotional strategies and location related strategies. These strategies should help to create value. Knowing when a strategy is good is one of the key to having a highly competitive company.

References:

Aileron. (2011, October 25). Five steps to a strategic plan (Links to an external site.). Forbes. Retrieved from https://www.forbes.com/sites/aileron/2011/10/25/fi...

Paunovic, G. (2017, December 6). The single strategy you need to fuel business growth right now (Links to an external site.). Forbes. https://www.forbes.com/sites/forbesagencycouncil/2...

Uggla, H. (2015). Aligning brand portfolio strategy with business strategy (Links to an external site.). IUP Journal of Brand Management, 12(3), 7-17. Retrieved from http://www.iupindia.in/Brand_Management.asp

“Growing Your Business” – A Management Simulation. (https://uagc.tri-sim.com/canvas)
https://bit.ly/3bJxQYI