Reference no: EM133722585

Business Simulation with Professional Development

Learning outcome 1: Knowledge
Explain the theory and practice of businesses
Describe a range of current problems and changes that organizations face in being successful

Thinking skills
Critically evaluate research and theory to support decision-making and explain progress
Analyse complex issues, make reasoned judgments with incomplete data, and communicate conclusions clearly to specialist and non-specialist audiences
Subject-based practical skills
Students will discuss good practice for organization success
Undertake a critical audit of skills and capabilities for a professional career and identify areas required for improvement
Skills for life and work (general skills)
Developing and communicating critical evaluations of organization progress
Working effectively in teams

Part A: Individual Simulation Evaluation (Business Simulation)
Weighting - half of the total weighting (50%) Word Count - ca. 3000

You have been managing your virtual company in the business simulation activity for eight quarters (two quarters weekly). You are now reviewing and presenting your future plans for the company based on your annual business plans (for each simulation week) and performance in the simulation. You are required to evaluate the success of your decisions and make recommendations for future company plans.

1. Executive Summary
Remember this is an overview of: the most important decisions you made; the actual results you got; the most important decisions you have made about your
future strategy

2. Describe the simulation company Vision and Strategy over the simulation
e.g. vision, values, mission, HR
This section is to be based on your Team business plan. Please use your own words to describe your company's Vision and Strategy (do not ‘copy and
paste' your group business plan)

3. What you did
Performance review: competition analysis (Market choice/share; competitors; internal capabilities). Also talk about the most important decisions you made and the targets you set quarterly over a
selected period of time.

4. What the outcome was
Explain simulation performance results quarterly over a selected period of time taking into account: Position, KPIs, Financial performance
Performance review: Performance analysis: analyse performance (evaluate decisions taken in each area
- Strategy/ Marketing / HR/ Logistics / Finance / Product development / Responses to World events etc linking to simulation results)
Marks will be awarded for how well you explain the connection between the decisions you made and the results you achieved (regardless of
whether the outcome of your decisions were positive or negative in a business sense)

Future Company Strategy
Develop future company plans and recommendations including:
Define key decisions for a selected period of time
Identify any changes to current strategy and how to achieve those changesSet out recommendations - based on your review of company performance,
Explain areas for potential growth.