Business simulation exercise report Section 1: Business performance report Introduction The present report highlights and analyses the business performance in the business simulation exercise conducted over a period of 24 months. The exercise strives to evaluate the effect of business decisions on the learning and development of the members of the group undergoing the simulation exercise…
Download full paperFile format: .doc, available for editing
Download file to see previous pages
The month end bank balance of ?7687 is decent enough to start with and is sufficient to meet the immediate cash needs as compared to the level of business activity. The slightly higher fixed costs of ?826 are indicative of the initial spending in research and networking which is absolutely crucial at this stage to take the business into the future. This is a step in the right direction at this stage. There is a net loss of ?778 and at this stage it is quite expected as the sales effort starts showing results only after some time. Besides, from the Time spent breakup (Appendix 1.2), it seems that the sales effort is greater than the overall marketing effort at this stage, since building cash inflow is a priority at this stage. The idle time shows that here is pressure to build up business and this is translated into sales activity which is more action oriented than the marketing activity. The same trend continues in February and is depicted in March ’13 report. In March’ 13, the bank balance is more or less maintained, indicative of even cash inflows and outflows. However, the expenditure and time on the marketing and product research activities shows an increase. The customer research and competition research is complete and the product redesign based on the research has been completed y this time. The business breaks even in the month of March 13 which is shown in the April 13. The bank balance is maintained and the business shows strong growth signs. The sales are increasing and the bank balance is building up with increase in new orders. The production time is increasing and the idle time is decreasing. The business has made a small profit of ?45. However, this trend is reverted the very next month owing to higher overheads in terms of spending business website. The website though a cost, is the right decision at the right time for the business, since, an online presence with the traditional marketing as well as supply chain management methods was hugely complemented by the same. Since at this time, the number of sales enquiries from traditional marketing methods is too low to sustain the business (Appendix1.3). The sales effort and its effectiveness has been maintained and is evident from the fact that the product stock at the end of the month is zero for a considerable period of time that is from Jan’ 13 to Feb’14. This apart from sales effort is also indicative of good inventory planning. However, by month May 13, due to lack of orders, the production capacity was idle for the most part. The scenario seems to be a result of overemphasis on research and planning at the expense of sales effort in recent past. The management was advised to give some more focus to the core activity of selling. This showed some result in the very next month, when the orders from previous month exceeded an amount of ?2870 and this is where the business starts making profit on a sustainable basis. The production capacity is utilized to a great extent and the idle time minimized. The growth in profit continues and by August, the production targets are being met. The Marketing team was advised to work out the possibilities of a long term business opportunity. The effort showed results in the form of the first customer contract by August 13 (Appendix 1.4). By September
...Download file to see next pagesRead More
Cite this document
(“Management - Business Simulations Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Management - Business Simulations Essay Example | Topics and Well Written Essays - 2000 words. Retrieved from https://studentshare.org/management/1450190-business-simulations
(Management - Business Simulations Essay Example | Topics and Well Written Essays - 2000 Words)
Management - Business Simulations Essay Example | Topics and Well Written Essays - 2000 Words. https://studentshare.org/management/1450190-business-simulations.
“Management - Business Simulations Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.org/management/1450190-business-simulations.
The abstract, as usual, explains the context and the issue upon which the research is aimed. The article finds its significance in the fact that none among the many educational validity studies in the past successfully suggested a guideline for assessing the educational validity of business gaming simulation.
Its fundamental objective is to create knowledge, share it or transfer among the people and use it for the benefits of the organization (Noe, 2002, p. 168). In creating, sharing and making use of it, gaming, simulation, calculations, data base and many other information-managing strategies have been found to be extremely important.
JLR has brought the issues that are related to innovations that were not in the market before. The company needs to utilize the e-commerce concept in its operations so that it can sustain the new model or vehicle in the market. Internet showcasing is the methodology of directing business through the web and it has been proved to be cheap, durable and reliable.
Changes within one area of a Company ripple through the entire organization, their effects re-engineering both internal and external structures.
The batch process can be defined as a production method, with numerous on-the-floor employees and supervisors, each with an autonomous job (Schroeder, 2000).
Its influence is becoming increasingly pervasive through a constant series of federal court decisions as well as steady enlargement in the size and scope of administering agencies. Despite the pressure from the competitors Motorola undertake effective supply management as the cutting edge. Higher number of satisfactory customers and efficient services will maximise the profitability of Motorola by attracting a large number of customers.
According to Seeger (Seeger, Sellnow & Ulmer, 1998) there are three elements common to most definitions of crisis : a) a threat to the organization b) the element of surprise and c) a short decision time.
Crisis management deals with crisis not when the crisis arises and finishes but it starts well in advance before a crisis happens and when the crisis has ended.
Failure of the information systems would mean that the IT department is the pivot of all the communication in any business. With the development in technological systems, companies are striving to become digital firms. Currently, information systems offer
The conclusion states that there are many of the departments, which will be affected by this re-engineering in the ABC Company. At first, all the employees need a motivation for the adoption of new technologies. In this regard, there is a need for training programs and then incentives for the employees so that they can willingly adopt the new changes in the old processes.
4 Pages(1000 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Management - Business Simulations"
with a personal 20% discount.