Innovation Assignment Example | Topics and Well Written Essays - 5750 words

Innovation - Assignment Example From personal experiences and understanding gained regarding the use of this particular tool, it can be also depicted that StratSim Management ensures a dynamic learning scenario for people within a particular business organization that helps the same in dealing with various scenarios of challenges faced by a particular business unit in any sector. As per my personal experience with the use of this tool, an individual needs to ensure proper management of the objectives, so that desired results can be attained from the use of the tool. Some of the most prominent use of StratSim in the present day management domain includes formulation of business strategies, development of products and services, execution of the marketing activities of business and financial decision making among others. While my association with Vauxhall Motors in the process of using StratSim, I was able to identify some key strengths and weaknesses for the overall business. As per my StratSim experience, the strengths of the company mainly include its appreciative brand image within the automobile sector. Furthermore, innovative approach of the company within its operations can also be regarded as strength to an extent. The extensiveness of the operations of the company in the global automobile industry can be also regarded as strength of the business to a considerable extent. There were also certain weaknesses for the business, which must be also discussed significantly. The company has been dealing with problems of lack of growth and sustainable decision making in the global automobile industry. There is also a lack of product differentiation within the operations, which is also hampering the business positioning of the company to an extent and hence, they can be asserted as weaknesses for the same in the long run. The above mentioned weaknesses or challenges identified within the operations of the company can be mitigated with the help of effective strategies under the domain of