Controlling Strategy Management - Accounting - and Performance Measurem

Questions: 1. Growth + Competitiveness 1a) Since its launch Game Truck has been able to establish itself and grow successfully. Identify and explain three factors that you believe have been critical to itmaintaining its competitiveness? 1b) Game Truck has selected franchising as a growth strategy. Identify and critically analyse four possible benefits for the franchisor that are presented by this strategy? 1c) Game Truck faces a number of challenges as it expands internationally. Identify three such challenges and, in each case, outline a strategy that could be used as a response to the challenge? 2. Marketing 2a) You have been given the task of designing a marketing strategy for Game Truck. Outline and explain three aspects of Game Truck's service that you would select and promote in your marketing strategy and explain the reasons for your choices?2b) Social media presents many opportunities for small businesses that wish to find an economical way of promoting their service? Outline and explain three ways in which social media could be used to promote Game Truck? 3. Small Business Teams 3a) According to the information contained in the case study what skills and experience did the founder of Game Truck have prior to starting the business?3b) Game Truck has undertaken a period of growth. Outline and explain what new skills were needed by the firm as they undertook this growth? 3c) What skills would a franchisee need in order to open up and operate a Game Truck franchise successfully? Answers: 1: a. As referred to in the case scenario, the organization Game Truck has successfully established itself in the market. Factors that have been largely responsible for the increased success of the organization and its effectiveness are that of its objective to create physical mobile space for letting people enjoy the best video gaming experience in the most effortless and fun environment. The firm headed by Scott Novis aims at promoting the very philosophy of improving on the interrelationship between children and their parents by means of multiplayer games. Moreover, Game Truck ensures that the gaming experience must include physical activities, act as techniques used by parents to determine limits and inculcate interest among children to indulge in computer programming, mathematics and graphic design. This organization has put on greater efforts to improve on its product utilities in order to serve strengthening of mutual family relations with kids (Baxter, 2006). Game Truck ensur es that the gaming experience must include physical activities, act as techniques used by parents to determine limits and inculcate interest among children to indulge in computer programming, mathematics and graphic design. b. With reference to the case scenario, the organization has adopted the expansion strategy of franchising. This approach is largely popular and can benefit the organization by enhancing its brand recognition. This would attract more customers from all across the globe. The parent Company of Game Truck would provide support all its franchise locations. The campaigns related to marketing and advertising of Game Truck would allow it to focus on each of the operations in an independent manner. In this process, the sales and revenues of both the parties would be enhanced with increased profitability. Franchising would also impart increased brand awareness and recognition among people globally. Every franchisee outlet benefits from the overall benefit of the parent company. c. The continuous and effective progress of the organization give rise to the possibilities of market challenges. The constant and ever changing needs of the market environment give rise to the need to focus on availability of other markets apart from the kids party market. Many may consider this industry of gaming to be recession-proof but in fact the aspect of economic downturn may lead affect operations of these companies. Such experience is expensive and so may be ignored during recession (Cndido and Santos, 2015). Whenever the company is faced with challenges, it needs to stay prepared with all possible strategies to reduce overall operation costs. When the price of products is lower than the competitors along with quality consistency, the firm would enjoy competitive advantage and no challenge can affect its operations. It is essential that the organization adopt key strategies to combat the challenges. 2: a. As referred to in the case, the organization Game Truck is considered to be one of the leaders in the video game industry. It aims at creating mobile arcade including video games, big screens and game consoles. This allows several players to play at a time. Any suitable market strategy of an organization would enable it to focus on the key elements of market such as product, price, promotion, place and physical evidence. The product is of high quality and so it needs to focus on the marketing aspects so that the products reach out to the global customers easily. It must ensure that suitable marketing and advertising approaches are used to reach out to the maximum number of potential customers (Denning, 2010). The advertising must stress on the fact that it may be carried and used at any location. The mobile theatre is self-sufficient and allows several players at a time to participate in the gaming experience. There must be strategy to attract customers with its feature that th is product do not isolate children from socializing but rather strengthens the relationship between parents and children. b. Use of social media has been a very common aspect in the present business environment as this is highly effective in making any organization and its business popular amidst the common mass. Game Truck may use social media to communicate to the society and share information about itself to the customers and all related stakeholders. The sites of social media would not only lead organizations to market themselves but it would encourage the customers as well as to contribute own ideas and contents. The three most popular social media websites that Game Truck may adopt are Facebook, twitter and YouTube. All the three social networking websites are immensely helpful since any sort of information about the company and related stakeholders can be easily shared at the websites and these directly inform customers about the organizational functions and effectiveness (Giapponi, 2014). These websites are also user-friendly and have the potential to make any organization recognized in the shor test period of time. 3: a. Scott Novis is the founder of the organization Game Truck. His personal experiences have led him to establish Game Truck. He has gained tremendous experience of nearly about a decade by working with various companies. He had been the Vice President for Development for Rainbow Studios that is one of the leading video game development studio in the South-Western United States (Liu and Chen, 2015). He had a vision that was unbeatable where he aimed at creating a physical mobile space to allow people play the best video games upon the latest consoles. He himself realized that it is the common aspect that parents remain highly worried that playing video games often makes their children isolated from the rest of the society and that also disturbs their relationship with their children. This was well understood by Novis and so he aimed at creating gaming experience that would mitigate such issues considerably. b. For conducting business most effectively and bring about increased growth and development, the organization Game Truck requires some key attributes. These include increasing own capacity, attracting more customers, upgrading current customer, adding more options, and increasing overall organizational morale. The issue of capacity may be leadership capacity to be enhanced. Increasing capacity not only includes overall productivity of the organization but to increase system capacity, technological capacity, employee capacity, training capacity, resource capacity, etc. The organization needs to focus on the acquired skills to attract more and more customers. This calls for framing of effective strategies with respect to marketing and advertising (Meisel, 2013). Also, the organization needs to focus on the corporate governance, internal and external environment, and internal policies to enhance the overall morale of the organizational. The organization must also focus on the need to c ontinuously improve upon the product features and functions in order to hold on to the market for extended time. The product is of high quality and so it needs to focus on the marketing aspects so that the products reach out to the global customers easily. It must ensure that suitable marketing and advertising approaches are used to reach out to the maximum number of potential customers. A franchi c. see may adopt several strategies to operate successfully and productively. Firstly, it must relate to risk aversion. It must be willing to take considerable risk in a controlled manner. Any firm that initiates newly include risk factors but a potential franchise adopts proven track of record of success to minimize risk. The system needs to be oriented in a way that would tell them the most effective manner of associating with organizational business (Niemczyk, 2011). The organization needs to have hard-working motive. The organization needs to possess effective interpersonal skills to ensure effective interaction amidst employees, clients and staffs. The above mentioned skills are important as the organization would then achieve competitive advantage to achieve increased effectiveness. Game Truck ensures that the gaming experience must include physical activities, act as techniques used by parents to determine limits and inculcate interest among children to indulge in computer pro gramming, mathematics and graphic design (Poposki, 2011). Franchising would also impart increased brand awareness and recognition among people globally. Every franchisee outlet benefits from the overall benefit of the parent company. The organization needs to have hard-working motive. The organization needs to possess effective interpersonal skills to ensure effective interaction amidst employees, clients and staffs. These skills would be essential for creating value, loyalty and trust. The organization Game Truck makes incredible effort to keep its products very basic and focus more on the issue of strengthening the relationship between parents and their children. References Baxter, J. (2006). Book Review: Controlling Strategy: Management, Accounting, and Performance Measurement.Organization Studies, 27(6), pp.902-906. Cndido, C. and Santos, S. (2015). Strategy implementation: What is the failure rate?.Journal of Management Organization, 21(02), pp.237-262. Denning, S. (2010). Rethinking the organization: leadership for gameà ¢Ã¢â€š ¬Ã‚ changing innovation.Strategy Leadership, 38(5), pp.13-19. Giapponi, C. (2014). Experiential Exercises for Courses From Introduction to Business Through Business Strategy.Organization Management Journal, 11(4), pp.227-227. Liu, T. and Chen, Y. (2015). Strategy orientation, product innovativeness, and new product performance.Journal of Management Organization, 21(01), pp.2-16. Meisel, S. (2013). Corporate Sustainability as the Cornerstone of the Capstone Course in Strategy.Organization Management Journal, 10(4), pp.254-254. Niemczyk, J. (2011). A Strategy as an Innovation - A New Strategy Concept.Organization and Management, 2011(5 (148). Poposki, E. (2011). The Blame Game: Exploring the Nature and Correlates of Attributions Following Work-Family Conflict.Group Organization Management, 36(4), pp.499-525.