ID2221

.docx
School
Harvard University **We aren't endorsed by this school
Course
ACCTG 121
Subject
Business
Date
Nov 9, 2023
Pages
18
Uploaded by SuperHumanNeutronBarracuda13 on coursehero.com
SG7003 Business Simulation with Professional Development Student ID:
Table of Contents Part A- Individual Simulation Evaluation .................................................................................. 3 1.0 Executive Summary ............................................................................................................. 3 2.0 The Simulation Company Vision and Strategy over the Simulation .................................... 4 3.0 Performance Review ............................................................................................................ 5 4.0 Simulation Performance Result ............................................................................................ 6 5.0 Future Company Strategy .................................................................................................... 8 Part B: Individual Reflective Report ........................................................................................ 13 Introduction and Identified Events ....................................................................................... 13 Application of Theory and Practice to Identified Events ..................................................... 14 Discussion and Recommendations ....................................................................................... 14 References ................................................................................................................................ 17 Page | 2
Part A- Individual Simulation Evaluation 1.0 Executive Summary The simulation experiment facilitated the comprehension of the performance of a hypothetical company within a specific timeframe. The organization's approach encompassed an evaluation and analysis of its strategy, marketing, human resources, logistics, finances, product development, and responses to global events. Additionally, its key performance indicators and financial performance were scrutinised. The study demonstrated that exogenous factors, including market competition, economic fluctuations, customer inclinations, and endogenous determinations, collectively influenced the firm's performance. The outcomes, whether favourable or unfavourable, of each department can be attributed directly to the decisions made within that department. Simulation outcomes were utilised to identify significant decisions during a specific timeframe. The organisation developed novel products, increased its marketing and advertising budget, and restructured its human resources policies to give precedence to consumer demands. It has been proposed that the corporation implement a more flexible strategy that can effectively respond to changes in the market and feedback from clients, in order to facilitate the necessary transformations. The objective of achieving this goal could potentially be facilitated through the allocation of resources towards staff training and development, coupled with the utilisation of data analytics and consumer insights to inform decision-making processes. The evaluation of the company's overall performance identified its foreign expansion and new product development as areas with promising growth potential. A recommendation was made for the corporation to explore its potential by means of diversification into novel markets and distribution channels, as well as establishing strategic partnerships and collaborations. In summary, the simulation exercise provided significant insights into the performance of the company and identified key prospects for growth and advancement. In order to achieve long-term success in a competitive market, the organisation could enhance its positioning by implementing a more adaptable and customer-focused approach to investment and decision-making. Page | 3
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