Reference no: EM133335491 , Length: word count:3000

Management Practice

Report on Simulation

Learning outcome 1: Demonstrate a systematic understanding and critical appreciation of theories in the MBA toolkit to challenge existing preconceptions and develop positive and enquiring approaches to management and enterprise

Learning outcome 2: Demonstrate intelligent practice by imaginatively and critically integrating theory and practice, stipulating areas of excellence and reflecting on areas for development to improve performance in a dynamic competitive environment

The assessment strategy supports the emphasis on experiential and enquiry-based learning in progressively supporting the effective integration of theory and practice to facilitate your transition into the professional work environment. You will participate in a competitive business game designed to simulate a realistic management situation. You will engage in the simulation as part of a group and as team of ‘Directors', over successive periods you will monitor the performance of your own business and the competition, adjusting your strategic and tactical decisions accordingly.

The performance of your team and the final outcome will depend on how effectively you apply theory in practice to support critical analysisand evaluation in context. Your aim is to enact informed problem solving and identify opportunities as a result of your clear decision making. You will need to draw extensively on theories and techniques from your MBA toolkit through taught units, including specific questions regarding your vision, mission, objectives, strategic planning, decision making and key take-always, such as ;
• Strategic Management
• Marketing
• Human Resource Management
• Performance management
• Operations Management and Finance
will need to be addressedas a minimum and you will also have the opportunity to highlight other areas of your own choice

You will be assessed on an individual report. This demands in-depth critical analysis and evaluation of theory in practice leading to clear conclusions and feasible recommendations. Your individual report should be 3,000 (+/- 10%) words and cover:

1. On the effectiveness of your individual performance in making team decisions

2. Consider, how theory which you have learnt on the course was demonstrated both in your decisions and how as a team your final recommendations emerged.

Your report must be fully supported by directly relevant quality academic sources in demonstrating the integration between the theoretical academic frameworks and your strategy, planning, decision making and overall performance of your organisation during the simulation. A key aspect of the assignment is that you evidence a clear link between the strategy you adopt during the simulation and the various academic frameworks you have been studying throughout your MBA units to this point in time.

There are three things you must do to pass:

1. Show adequate independence of thought in evaluating the usefulness of theory in practice applied to a live consultancy project or a simulated task of running a business, monitoring performance and adjusting decisions in the light of the success or failure in a competitive environment

2. Demonstrate adequate appraisal of the complexity of management in the implementation of strategic decisions

3. Research, select and usecreatively appropriate business and management theory to manage and complete a project in the context of a new situation

Produce a professional and compelling report that draws on the theories and frameworks from the MBA toolkit to evaluate the performance of your organisation during the business simulation. Assignments attracting the highest marks will be focused, analytical, will include critical analysis that explores in depth the implications of the issues under discussion and this will be supported and evidenced thoroughly by using robust and valid academic material and frameworks from the MBA Toolkit. You must provide a clear introduction that provides a structure for your report and will highlight the main topics and areas for discussion; a main body that includes a critique and analysis of your decision making and strategy during the simulation in relation to your organisation's performance; conclusions that are clearly derived from this analysis and recommendations that are clear and realistic to the demands of the task and nature of the business.

Presented as a professional report, make sure your submission is discursive, and analytical throughout, use appropriate frameworks to focus the narrative and draw on a good range of quality academic sources - especially up to date academic journals - not spurious web-based sources. You should reference properly throughout your work using the Harvard Referencing style only.

The scheduled sessions begin with an introduction to the business simulation and the role you will play in it, it will also help to get you familiar with the layout and how it operates. Over a three-week period, you and your group will work through the business simulation creating, using and implanting various strategies you have been taught during the MBA course. During the scheduled sessions you will work with your tutor to discuss strategies, theories and academic frameworks that you may use to create a positive outcome for your business. The scheduled sessions will also address the requirements of the assignment.

You will need to outline the mission and vision of your business when you first began the simulation. You need to be clear regarding the strategies and theories (frameworks) you utilised during the simulation and link these to the outcomes and results and finally you need to make some clear recommendations regarding the business for its future success.

You will attract marks for good, critical analysis that links theory to practice, this is a key aspect of your assignment. During your MBA course you will have studied various units on Strategy, Finance, Marketing, Operations, etc. This unit and its assessment requires you to now utilise the various frameworks, models and theories you have studied in previous units and apply them to a real life business i.e. the simulation. These should link to the strategy you are proposing to use in order to achieve your mission, vision and ultimately your performance objectives. The scheduled sessions will allow you to discuss the many possible ways this can be done and help you with your final decision making. The success of your business will be reflected in the performance of your organisation during the simulation, this is determined by your decision making and strategic choices in relation to aspects of Marketing, Financial Control, Planning and Human Resources in line with Operations. The simulation will react to the decisions you make and will set challenges every organisation faces in the delivery of its mission. Use the limited scheduled sessions wisely to discuss and debate options and possibilities with your team and your tutor.

Organise your work and communicate professionally. Please ensure your submission is all your own work. Do not rely on internet searches. Do not use ‘essay' sites.