Business Simulation - 899 Words

What have you learned Business simulation is simulation used for business training or analysis. Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, financial analysis, market analysis, operations, teamwork and leadership. The business gaming community seems lately to have adopted the term business simulation game instead of just gaming or just simulation. The word simulation is sometimes considered too mechanistic for educational purposes. Simulation also refers to activities where an optimum for some problem is searched for, while this is not usually the aim of an educational game. On the other hand, the word game can imply time wasting, not taking things†¦show more content†¦Indeed, the fact of group work teaches us how our manager. Being in group means listening to each other, be agreements on our choices, everyone agrees ... that we serve in our future work and even in everyday life. We made different quarter always together so that everyone knows exactly where we were. We realized our mistakes because we were too focused on our numbers and our desire to improve that we have forgotten our competitors. In addition, we realized that none of us was very comfortable on the numbers. We therefo re measure the importance of having a financial management team, as it is almost essential. With this simulation, we learned that each area has its importance. Marketing with advertising, where to invest, newspapers, television ... the finance part, choose the number of sellers, which segment choose to discount or not to invest ... We noted early in a notebook what we were doing and the results. A logbook is essential if we want to understand our actions and what they entail. Every week we made a record. Through the summary of the previous quarter we could find what we did right and the mistakes that we had not thought of or even omissions. This simulation was conducted throughout the semester which was handy for putting into practice the theories of our courses: marketing strategy, supply chain... This allowed us to better understand our materials and at the same time to experiment. Sometimes things like advertising forShow MoreRelatedA Study On Advancing Entrepreneurial Skills And Abilities Through The Use Of Simulation Games On Secondary Shool Business Education1206 Words   |  5 Pages KEABETSWE PHUTHEGO 200903371 ELB 504 GUIDED STUDY IN BUSINESS EDUCATION TOPIC: ADVANCING ENTREPRENEURIAL SKILLS AND ABILITIES THROUGH THE USE OF SIMULATION GAMES IN SECONDARY SHOOL BUSINESS EDUCATION DUE DATE: 8 APRIL 2016 INTRODUCTION What can we as teachers do to influence our learners to become entrepreneurs? The government of Botswana has been over the years working tirelessly in trying to curb unemployment more especially among the youth, as well as motivating them to venture intoRead MoreBusiness Simulation And Data And Information Retrieval932 Words   |  4 Pageshelped give me an idea of how data is important and vital to businesses. During my course I have completed modules such as operational research, business simulation and data and information retrieval. These modules have given a great understanding of the importance of data within business and has inspired me to pursue a postgraduate degree in Business Intelligence. One programming language that I have studied is SQL. It was interesting to learn about SQL and how it works. I learnt how to retrieveRead MoreEssay about Business Regulation Simulation1142 Words   |  5 PagesIntroduction There is a complex legal issue that has the attention of senior management at the Alumina Company. How that issue is handled will affect the way the company does business and its standing in the community. The purpose of the next few paragraphs will be to describe the company and its stakeholders, determine the values of the company, set the current situation, analyze the risk factors in possible solutions and present a best solution for Alumina to follow. The company/stakeholders/values Read MoreBusiness Simulation892 Words   |  4 PagesWhat have you learned Business simulation  is  simulation  used for  business  training or analysis. Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, financial analysis, market analysis, operations, teamwork and leadership. The business gaming community seems lately to have adopted the term  business simulation game  instead of just  gaming  or just  simulation. The word  simulation  is sometimes considered too mechanistic forRead MoreThe Management Involved With Everest Simulation Created By Harvard Business School1206 Words   |  5 Pagesreaching its summit. This analytic essay is an analysis of the management involved with the Everest Simulation created by Harvard Business School. During this 3hour simulation I was the team doctor and achieved all ten of the possible ten points available, therefore 100% of goals were achieved. This score is related to the goals I accomplish as an individual and as a team. I enjoyed the simulation and expanded upon my knowledge as it taught a profound understanding of team dynamics, the capabilityRead MoreSEC 575 Week 6 Assignment Business Ethics Simulation Essay725 Words   |  3 Pagesï » ¿ WEEK 6 Business Ethics Simulation 1. What should CEO Werner say to the Division Chiefs? Is the decision ethical? Why or why not? I think from looking at and seeing the three choices, I would tell the Division Chiefs that: With what is going on a lot of companies are doing business with China right now. How do you be different and get around the problem? I dont think that this decision that was given is ethical because it is the senior officers of the company that are making the ethicalRead MoreBusiness Simulation Game2071 Words   |  9 PagesCompetition and Strategy Business Game 15th April 2014 The aim of the Competition and Strategy course is to provide students with deep knowledge on strategic decision-making in a business environment and the strategic principles behind it. Within this course my team members Kristijan, Yaniv, George and me (Team KUGY) had the opportunity to apply our academic and theoretical understanding and knowledge in an online business simulation game, wherein we created our own car business and competed on theRead MoreBusiness Simulation Scenario3777 Words   |  15 Pages Executive Summary Because Tim is without a business degree, he is not well-equipped to operate a business properly. Research online and in other places has provided him with a good deal of knowledge, but it has not given him enough of an advantage to compete with his degreed counterparts. Since that is the case, Tim needs two things: a business degree (or at least all of the information he would learn in acquiring said degree), and someone who already knows the needed information to partner withRead MoreEvaluation Of The Business Game Simulation1598 Words   |  7 Pagesoutline the evaluation of the business game simulation SimVenture, which aims to offer a simulated experience of how organisations work enabling skills and knowledge It also reflects the use of relevant entrepreneurial theories into practice while making decisions in the business and clearly stating the financial achievements at the end of it.. The report evaluates team performance and decision-making within the perspectiv e of results achieved in the simulation at the end of three virtualRead MoreReflection On Business Simulation Course Essay1084 Words   |  5 PagesReflection on Business Simulation Course During the business simulation course, we organised a team to become an automotive start-up company and introduced four new products, vehicle models, to satisfy the investors who invested us  £500M. Each 4 rounds, we had entered board room to report our initial result and upcoming plans. The main purpose of this reflection is bring back some of misbehaviour or wrong decision through the course, therefore, I could understand how each factors impact on the