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Conclusion
To summarize what was covered in this section, here are six key points to review with your group as you
work through the simulation.
1.
2.
3.
4.
5.
6.
Understand the business situation through internal and external analysis
Create an agreed upon vision and mission for your company
Establish a process for group analysis and decision-making
Use the concept of the profit equation to better understand the dynamics and financial
implications of your alternative decisions
Use the pro-forma reports to check your sales and financial assumptions
Make sure part of your long-term planning process takes into account the time required to
complete various strategic decisions
Using this strategic checklist will help your group stay on track strategically and help you avoid many of
the reactive pitfalls that naturally occur as competition intensifies. Best of luck managing your
company!
Managing for Success in StratSim—Page 97