Capsim Business Simulation Learning Model - Essay Example

 Reflective Journal On Capsim Business Simulation Introduction CAPSIM Simulation is a practical learning model that dynamically engages the participants in a competitive way. Learners compete in turning struggling companies and business ventures into successful yet profitable business ventures. Students through these models develop their decision making ability and build their strategic management acumen. Since the success of their company is dependent on their ability to work as a team, the exercise develops and tests the student’s teamwork abilities. This reflective paper focuses on the different experiences with the CAPSIM Simulation. Working in a group of new friends, there were a number of things to learn from the entire experience. Different people have varying capacities and capabilities, and thus, every team member had individual performance abilities. There were entirely new things to learn from the exercise, as expressed in this paper. Additionally, the exercise gave individuals an opportunity to evaluate their weaknesses, and come up with decisions on the means of improving on their weaknesses. Finally, the paper gives an overall reflection of the things learnt from the model. Through the entire simulation process, I performed well and contributed equally in the decisions that we have made. As the policies of our team stated, every member had the obligation of making equal and substantial contribution in the decisions reached in building of the model. Amado & Vansina (2005, p. 228), efforts of the members of a team equally contribute to the success of the work. Through effective teamwork, the output is not only impressive but also work done is of high quality. First, we established a common goal for our group which would act as the guideline for all the members of the group. Next, we divided roles according to our capabilities. Division of tasks in a group avoids role conflict as al members have their individual tasks to handle and accomplish (Tarricone & Luca 2002, p. 641). Personally, I undertook to conduct research for the group. Through research, we were able to reach into informed yet confident decisions. Moreover, I contributed in the discussions held in the various group sittings. The team was impressed by the type of contributions I put across. Whenever faced with a tough decision, I offered encouragement to the rest of the members, ensuring that every member felt involved and part of a competitive team. During our engagement in teamwork, there are a number of things that I learnt. By participating in the decision making, I learnt the importance of teamwork. Teamwork involves the work done by several associates with every member of the team playing a single part, but all members contributing individually to the success of the entire process. While working in a team, conflicts are likely to arise. Initial steps of a team are marred with collision as the team members try to understand one another. As the team cohesion grows, it becomes easy to solve any form of arising conflicts. There are benefits of working in a group. Among these benefits, problem solving especially whenever a crisis arises is important. While working in a team, accomplishing a task is easier and faster as decisions are reached faster (Bell 2011, p. 93). Every member of the group contributed their individual unique knowledge into the task, subsequently improving our results (Bouyssou 2009, p. 68). Through the simulation process, I understood the essence of making effective and informed decisions that are results oriented. Decision making involves selecting the most appropriate and viable course of action from available alternatives (Adair 2010, p. 12). Decision making is a process that involves reasoning and evaluation of the consequences involved. A number of factors constrain the success of a team and the achievement of its goals. To a large extent, these problems can cripple the operations of a team (Macmillan 2001, p. 17). However, identifying the potential problems that are likely to affect a team helps team in designing strategies to militate against these problems. Our team lacks finance and accounting knowledge that is essential in succeeding with the simulation process. Financial knowledge is essential in evaluating how our company is performing in reference to other firms. Moreover, it helps us in tracking the performance of our team from through historical data. By applying financial knowledge, we are able to make the best decisions regarding our investment plans. Accounting knowledge on the other hand helps us in finding sources for our funds, how to effectively allocate our funds for the success of our company. This is crucial for the survival of our company. Our plan therefore is finding means of developing this knowledge. A number of factors are available for our team to exploit in order to bridge the gap knowledge. Through research, consulting and seeking assistance are the easiest means available for our group to exploit. There are a number of things that I learnt from the entire process. Although it is a great experience to work in teams, managing people is not an easy task. There are bound to be conflicts arising among the members. How effectively these conflicts are solved determines the efficiency of the group in achieving its objectives. To successfully lead and manage a group, a team leader needs to possess a certain qualities. The team leader shows the team on the route to follow in order to achieve results. Therefore, it is essential for a team leader to have high integrity, and honestly lead the group to achieve its objectives. Team leaders should be visionary. They need to communicate the vision of the group to the rest of the group and involve them in devising methods of achieving these results. A team leader should also be enthusiastic and hold a neutral position to effectively solve problems whenever they occur. In addition to the qualities of a team leader, the team members need to show their concern of being involved in the team by actively being involved in the team work. Conclusion CAPSIM Simulation is a model meant to improve a learner’s decision making abilities and develop in them business acumen. Learners are the future business leaders and therefore, quality training on the best ways of doing business yields great results in modeling learners to assume this role. However, the choice of the instructors to incorporate teams in the CAPSIM Simulation is essential in developing better decision makers especially in complex situations. Through teams, learners acquire essential qualities necessary for the success of any task. Personally, I learnt a various essential qualities that help in building my decision making process and abilities. Contrary to individual decision making process, decisions arrived at through teamwork are more effective and informed. Works Cited Adair, J. E 2010, Decision making and problem solving strategies. London, Kogan Page. Amado, G., & Vansina, L 2005, The transitional approach in action. London, Karnac Books. Bell, A, H, & Smith, D, M 2011, Completing collaborative projects through teamwork Boston : Prentice Hall. Bouyssou, D 2009, Decision-making process concepts and methods. London, ISTE. http://site.ebrary.com/id/10361101. Macmillan, P 2001, The performance factor: unlocking the secrets of teamwork. Nashville, Tenn, Broadman & Holman Publishers. Tarricone, P, & Luca, J 2002, Successful teamwork: A case study. www.deakin.edu. http://www.deakin.edu.au/itl/assets/resources/pd/tl-modules/teaching-approach/group-assignments/case-studies/case-study-edith-cowan-university.pdf Read More