Analysis 2 The Glo-Bus application was a very challenging and intriguing exercise.Starting out in the simulation, our team was positioned well with a good strategy and several strengths in our first couple of years. Despite thisstrong start, we struggled to adapt to the changing market conditions and adapting our strategy accordingly. Ultimately, we gained several new insights that should help us each in our future strategy formation andexecution efforts.
Strategy
As a co-management team we quickly formulated our plan of attack.We decided to plan weekly phone conference with all the managers of Distinguished Images. We felt that this would be the most effective opportunity for our management team to talk through our strategies andcollaborate on a plan of attack. By doing this, we were able to voice our intentions for the company and give our input as individuals to reach towardthe vision of the company as the weeks progressed. We also adopted ourcompany vision statement:“Distinguished Imaging strives to be the global market leader inreliable and technologically advanced digital cameras. We are focusedon meeting our customer’s needs for advanced technology productsand seek to be the 1st choice in digital imaging technology.”By having our vision statement early on, we were working to “be unified intoa coordinated, cohesive effort” (Thompson, Strickland & Gamble, 2008,p.15).
From a strategic perspective, Distinguished Images initially sought to offer quality products at a value price point. Our goal was to use the “best-cost provider” strategy where we would provide good-to-excellent productqualities at a low price point (Thompson, Strickland and Gamble, 2008).Our goal was offer a quality entry-level camera at a low price point and ahigher quality multi feature camera at a value price point. Later we wouldadjust this strategy to be a combination of “low-cost”