Smart Mart Simulation

913 Words4 Pages
Simulation exposed myself to complex business situations involving alignment of interests of firm and stakeholders. In the hindsight, I now feel that simulation has made me revisit my approach for decision making in business scenarios and introduced me to critical aspect of stakeholder management – “Balanced Perspective”.(Carrol, Archie B& Bucholtz, p92). Based on the three scenarios in simulation, I made following decisions: Scenario1: As part of reassessment of Smart Mart's strategy, I decided to change the store concept of Smart Mart i.e. to become a niche player. Increased number of CSAs could erode the competitive advantage of Smart Mart, hence by being a niche player SmartMart can build on its existing transactional level stakeholder management capability and thus should continue competing based on their intangible assets – their strong relationship with suppliers, employees and customers. (Carrol, Archie B& Bucholtz, p109) Maintaing status quo right now might not be ethical as company's values and missions is to constantly grow and create more value for its stakeholders. Hence my decision of going niche is more of a stakeholder synthesis approach then a multi fiduciary approach.(Carrol, Archie B& Bucholtz, p91). Also, I believe competing with Big Box Mart will not position Smart Mart to achieve value for its stakeholders as Smart mart then have to compete on low cost rather than quality in future. Though the expected returns could have been enormous by growing bigger but this strategy would not have aligned with Smart Mart's philosophy of achieving healthy life style for its consumers and delivering best quality organic products. Though going niche will put Smart-Mart on backseat in ties with global suppliers but under the niche market business model, global suppliers will become marginal stakeholder type and thus will not play a relevant role in
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