Question: 1. a) Develop an appropriate mission statement and vision statement for your Capsim company. b) Explain three reasons why it is important for companies to

1. a) Develop an appropriate mission statement and vision statement for your Capsim company. b) Explain three reasons why it is important for companies to have a mission statement. (20%)

2. Conduct a SWOT Analysis of your Capsim company. There should be four strength and two each for weaknesses, opportunities and threats (20%)

3. Using the Management Pyramid in Unit 7, name one position each in the top, middle and first line management for your Capsim company then explain the basis for employing them (details of their experience, accomplishments and what hard and soft skills they bring to the organization) (20%)

4. Based on your Capsim companys goals and performance to date, what are three strategies to be implemented a) To increase market share b) To improve net income c) To increase sales and d) To decrease variable costs (20%)

5. At the end of each round, comprehensive reports are provided on your Capsim companys performance. What are the decisions you made regarding any four of these: (20%)

Operational Efficiency (Focus of years 1 thru 5)

Total Quality Management (Focused on Raw Materials, Labor & R&D Cycle Time)

Human Resources (Best People, Best Training Strategy)

Production, Promotion & Sales Distribution (Right-sizing)

Research and Development (Best Quality Products in Each Segment)

Marketing (Premium Pricing in Each Segment)

Finance (Aggressive Debt Reduction and Stock Repurchases)

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