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ASSIGNMENT INSTRUCTIONS:
1. Watch this video: https://mitsloan.mit.edu/LearningEdge/simulations/platform-wars/Pages/Video.aspxLinks to an external site.
2. Review the related case: https://mitsloan.mit.edu/LearningEdge/strategy/SonysBattle/Pages/Battle-for-Video-Game-Supremacy_Sterman.aspxLinks to an external site.
3. Access to MIT’s Platform Wars at:
https://mitsloan.mit.edu/LearningEdge/simulations/platform-wars/Pages/default.aspxLinks to an external site.
4. Scroll to the bottom of the page and click on Play Simulation
Using a critical approach to reflection, reflect upon your experience running the Platform Wars simulation. Your reflection should be in an essay format and cover the following points
1. Reflect upon your experience:
What did you do?
How did that work for you?
What else might you have done?
What did you learn? What questions do you have?
What do you need to consider doing or changing in the future?
2. What beliefs and assumptions influenced your decision-making in the simulation? Explain. Provide examples to illustrate your points.
3. What practices influenced your decision-making in the simulation? What practices from your experience and education affected your decisions in the simulation? Explain. Provide examples to illustrate your points.
How Can I Improve My Reflection Paper?
First be sure you are writing a reflection paper…a reflection paper focuses on thinking about the situation and discussing what you learned. A reflection paper should discuss what worked…and why? …and what didn’t work…and why? …what you have learned from this experience and what you will do differently next time. Making connections to concepts in the course is also important.
The most common mistake is to write a descriptive paper…a paper that describes in detail what happened or what you did but does not critically reflect on what worked and what didn’t work and what was learned. For example, a descriptive paper will say: I raised the price in round 3 by $50. Then I read the note that my workers were unhappy.
A reflective paper will say: My strategy of keeping my price higher than the competition did not work well. Due to my uncompetitive pricing, I was unable to gain market share, which is essential in a market where installed base is a key competitive advantage. I learned that when competing in a market it is important to understand the characteristics of the market (i.e., how does this market work and what is essential to achieving a competitive advantage in it). I also learned that it is essential to understand and monitor the competitive environment, particularly competitors’ pricing. Even if I am pursuing a differentiation strategy, my pricing must be competitive versus similarly positioned brands.
Other Requirements: Your paper must be typed in 12-point Times New Roman font with 1-inch margins on all borders. On the cover sheet, you should type your name and the following statement: “I certify that the work I submit is my own individual work and that I have neither discussed this paper with anyone else nor received help from any other person or source.”
HOW TO WORK ON THIS ASSIGNMENT (EXAMPLE ESSAY / DRAFT)
Reflection on the Platform Wars Simulation
- Reflect upon your experience:
In the Platform Wars simulation, I played the role of a company that manufactured video game consoles. My objective was to maximize market share and profit by making strategic decisions such as setting prices, allocating resources, and investing in research and development.
My initial approach was to keep my prices lower than the competition while investing heavily in R&D in order to differentiate my product and attract more customers. This approach worked well in the early rounds as I was able to gain a significant market share and maintain a high profit margin. However, in later rounds, I noticed that my competitors were also investing heavily in R&D and my differentiation advantage was diminishing.
As a result, I decided to change my strategy and focus more on price competition. I reduced my R&D investment and lowered my prices to match the competition. This approach was successful in the short term as I was able to capture a larger market share, but it resulted in a lower profit margin.
What else might I have done? One alternative approach would have been to focus on expanding my distribution channels and increasing my marketing efforts to reach more customers. This would have allowed me to increase my market share without relying solely on price competition.
What did I learn? What questions do I have?
I learned that in a competitive market, it is important to understand the market dynamics and have a clear understanding of the competitive environment. This includes monitoring competitors’ pricing and investment strategies as well as understanding the characteristics of the market and what is essential to achieving a competitive advantage in it.
I also learned that choosing the right strategy is essential to success in the simulation. Balancing investment in R&D, marketing and distribution, and pricing is crucial in order to maintain a competitive advantage and maximize profit.
- What beliefs and assumptions influenced my decision-making in the simulation? Explain. Provide examples to illustrate my points.
In the simulation, my beliefs and assumptions were influenced by my previous experience and education. For example, I believed that investing heavily in R&D was the key to differentiation and attracting more customers. This belief was influenced by my understanding of the importance of innovation in creating a competitive advantage.
I also assumed that a lower price would attract more customers, which was influenced by my understanding of price sensitivity in a competitive market. This assumption led me to focus on price competition in later rounds of the simulation.
- What practices influenced my decision-making in the simulation? What practices from my experience and education affected my decisions in the simulation? Explain. Provide examples to illustrate my points.
My decision-making in the simulation was influenced by the practices I have learned in my previous experience and education. For example, my understanding of the importance of monitoring the competitive environment and adjusting my strategy accordingly was influenced by my prior experience in competitive markets.
Additionally, my understanding of the importance of balancing investment in R&D, marketing, distribution, and pricing was influenced by my education in strategic management. This understanding helped me make decisions that maximized my profit while maintaining a competitive advantage in the simulation.
In conclusion, the Platform Wars simulation was a valuable learning experience that allowed me to apply my previous experience and education to a simulated competitive market. The simulation taught me the importance of understanding the market dynamics, monitoring the competitive environment, and making strategic decisions to achieve a competitive advantage and maximize profit.
I certify that the work I submit is my own individual work, and that I have neither discussed this paper with anyone else nor received help from any other person or source.
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