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Business and Management Discussions

Name

Department

Course

Instructor

Date
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Business and Management Discussions

I often deal with large datasets containing customer behavior data, and sometimes it requires

analysis that is complex to discover patterns. One technique that I learned and I see will help me in

my job is Pivot Tables in Excel because they offer the flexibility to make summarize and visualize

sophisticated data where I can effectively identify outliers and trends (Mahajan et al., 2019).

Additionally, the What-If Analysis with Solver looks to me a potential scenario I can utilize to plan

and optimize particularly when forecasting sales or optimizing resource allocation (Gupta, 2023).

While I currently rely more on basic data analysis techniques, mastering advanced techniques such

as Pivot Tables and Solver would greatly enhance my ability to derive actionable insights from data.

As I continue to advance I will use it extensively including the Signature Assignment.

In reflecting on my life today, I find ample opportunities to enhance my ability to live the

"good life" by focusing on gratitude and generosity. I often cultivate a daily practice of gratitude,

where I consciously acknowledge and appreciate the blessings and opportunities in my life, whether

big or small. By regularly expressing gratitude for the people, experiences, and resources I have, I

have noticed a significant shift in my perspective, leading to greater contentment and fulfillment

(Fuchs et al., 2021). Additionally, I'm committed to seeking out opportunities for generosity in my

home, community, work, and school. This involves not only giving material support when possible

but also offering my time, skills, and compassion to those in need. Whether it's volunteering at a

local charity, lending a listening ear to a friend in distress, or simply spreading kindness through

small acts of generosity, I believe that fostering a spirit of giving enriches both my life and the lives

of those around me.

The most helpful graphical models I find so helpful is UML diagrams and Flowcharts, which

I find beneficial for communicating with stakeholders, including users and programmers (Freyman,

2019). IN software systems UML diagrams supports a visual representation, one can derive abstract

ideas and easy to comprehend intricate systems. Flowcharts on the other hand helps in visualizing
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how processes flow, where potential problem areas are easily identified. These visual

representations fosters understanding within software development teams and enabling

collaboration with external stakeholders who may not have technical expertise. However, there are

limitations. To present information visually, it requires considerable efforts and resources and like

UML, have to be updated or else will be outdated. Also, graphical methods don’t have the ability to

show complex logic.

Looking at the GLO-BUS simulation scenario, our greatest source of strength lies in our

strategic approach to market segmentation and product differentiation. In order to adapt and met the

needs of various consumer demographics, we aim to accurately identify how the preferences of our

consumers shift and making strategic targets in diverse market segments which has put the business

in the forefront of emerging opportunities in all segments (Na et al, 2019). However, our

vulnerability to competitors is that we tend to rely on pricing strategies and market positioning. For

quite some time, we have raised the prices successfully but this has exposed us to competitive

pressures, especially from rivals who may undercut our prices or offer similar products at a lower

cost.
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References

Freyman, W. (2019, September 12). Introduction to Graphical Models: A gentle introduction to

graphical models, probabilistic programming, and MCMC using a simple linear regression

example. Retrieved from https://revbayes.github.io/tutorials/intro/graph_models.html

Fuchs, D., Sahakian, M., Gumbert, T., Di Giulio, A., Maniates, M., Lorek, S., & Graf, A. (2021).

Consumption corridors: Living a good life within sustainable limits (p. 112).

Gupta, A. (2023, April 24). Data Analysis in Excel: The Best Guide. Simplilearn. Retrieved from

https://www.simplilearn.com/tutorials/excel-tutorial/data-analysis-excel

Mahajan, K. N., & Gokhale, L. A. (2019). Advanced Charting Techniques of Microsoft Excel 2016

Aiming Visualization. Int. J. Comput. Sci. Eng, 7, 198-207.

Na, Y. K., Kang, S., & Jeong, H. Y. (2019). The effect of market orientation on performance of

sharing economy business: Focusing on marketing innovation and sustainable competitive

advantage. Sustainability, 11(3), 729.