Contents

SECTION 1: EXECUTIVE SUMMARY..........................................................................................2

1.1. Elaborating Business Scenario – IONIX............................................................................2
SECTION 2: ANALYSING AND EVALUATING OF INDIVIDUAL PERFORMANCE:............4
2.1. Personal Performance.........................................................................................................4
2.2. Analysis of Group Contributions........................................................................................5
SECTION 3: SIMULATION BASED BUSINESS ACTIVITY: A CRITICAL REVIEW..............7
3.1. Positive Learnings................................................................................................................7
3.2. Limitations of the Activity..................................................................................................7
3.3. Skills Development and Employability..............................................................................8
3.4. Recommendations to Improve Simulation Activities........................................................9
CONCLUSION....................................................................................................................................9
SECTION 1: EXECUTIVE SUMMARY
In recent times, business scenarios are changing rapidly, forcing them to adapt quickly and
transform their business strategies in accordance with prevailing market conditions through
informed decision making (Sterman, 2010). In this whole transformative approach, team
work and collaboration play crucial role in ensuring business success. In order to understand
how a real-world business operates and how instant strategic decisions may impact an
organizational performance, a business simulation game was conducted over six rounds
where group members worked together and formed a virtual company and undertook wide
range of activities ranging from strategizing to problem solving in accordance with prevailing
market conditions (Faria, 1998).

This report will shed light on all the activities performed during this simulation game,
critically examining individual and group contributions made by team members, evaluating
success factors, identifying key areas for improvement and different limitations faced during
the process. This report will help find out that how this activity impacted individual skills and
enhance employability and how such strategies can be replicated in real word scenarios. As
we will be navigating through the landscape of this diverse experience, we will explain how
during this activity strategies were developed and employed, challenges faced and what
lessons were learnt through solving problems. This report will also give valuable insights into
learning experiences and help make continuous improvements in business performance in
simulated as well as real world business environment.

1.1. Elaborating Business Scenario – IONIX

In this simulation game, group members formed a company named IONIX a smartphone
company selling sustainable and innovative products. The company operates in a very
competitive environment where market conditions as well as customer preferences are
rapidly changing. During this simulation process, following real-time situations were
encountered by group members; -

- Like real world scenario, the group members encountered uncertain market condition, for
example in round 3, market suddenly witnessed a rise in demand for sustainable products
due to changing customer preferences, which forced group members to reevaluate
business strategy and capitalize on potential market opportunities.
- Another challenge during round 5 of the game was faced where supply chain of the
company was disrupted due to some global phenomenon forcing the management to
reassess business strategies in order to avoid production delays and dissatisfaction of
consumers.

- The company faced stiff competition due to competitors introducing new products with
distinct features. Apart from this, new entrants also entered the market forcing the
company to take corrective measures by differentiating their product and launching
aggressive marketing campaign.

- Other challenges faced by this virtual company during various rounds included changing
consumer preferences, resource allocation and budget constraints. The company
formulated strategies in accordance with market trends which ranged from market
positioning, product diversification, cost management, aggressive marketing campaigns
to optimization of resources of the company.

In such dynamic scenario where company witnessed rapid change in business environment,
the group members not only employed theoretical knowledge but also utilized their skills in
solving business problems due to changing market conditions. This helped team members to
bridge gap between academic knowledge and practical business environment. The purpose of
this simulation was to promote an atmosphere of critical thinking, strategic approach and
decision-making skills in a controlled but real time business settings.
SECTION 2: ANALYSING AND EVALUATING OF
INDIVIDUAL PERFORMANCE:

In this entire business simulation activity, I got to self-assess my skills and identify key areas
where I could further improvement. There were areas where I excelled while others required
development of new skills. My key strong areas proved to be decision making and quickly
adapting to changing situation whereas my communication skills and ability to work in
groups combined posed challenges towards my overall performance. Details below is
therefore summary of how some skills acted as success factor for my group and where my
performance was not up to mark.

2.1. Personal Performance

Success Factors
Development of Strategies and Decision-Making Skills: During round 3, when
encountered with stiff competition, I got the chance to lead my team and I proposed strategies
like product diversification as a solution to existing problem. The strategy proved fruitful and
not only protected company’s market share but also opened avenues for new income streams
for the company. Therefore, proving that I could perform well under pressure and make
decision which are helpful for the company.
Repositioning Company brand: During round 5, company witnessed a sudden change in
customer preferences and I proactively recognized the challenge and devised strategy to
rebrand company’s key products resulting to retaining customers. This also helped company
establish itself as market leader highlighting company’s strength as being agile and dynamic.
This proved that I held strong skills in quickly adapting to changing market conditions which
is a must-have skill for a business manager.

Weaknesses
Despite my positive performances, following is the details of some key areas where I lacked
performance and therefore require to be addressed for future growth.
- One of the key challenges I faced during this simulation game was not being able to
effectively and timely communicate key information regarding strategies formulated and
their impact on business performance. For example, during round 4, a key strategy regarding
company pricing was made without realizing that all team members were either not on same
page or did not fully understand the significance of this strategy which is an important
element for business success. Therefore, going forward, I plan to implement effective
communication strategy where I ensure that all team members not only are aware of the
strategies formulated but also understand the rationale behind such strategies.
- Another shortcoming that was witnessed in my performance was not being able to solicit
input from my team members before making critical marketing decisions. This led to team
conflict therefore helped me recognizing the important of decision making after proper
consultation with all stakeholders. Therefore, in future I should learn to work more efficiently
with team members and try to foster an environment which promotes an environment of
collaboration and team work ensuring that the business takes full advantage of expertise of all
group members.
The above stated personal analysis reflects the importance of self-development through skill
enhancements for effective teamwork in future simulation as well as real world market
conditions.

2.2. Analysis of Group Contributions

During these six rounds of business simulation activity, number of positive and negative
outcomes in terms of contribution by team members were observed. Where team members
delivered valuable results through teamwork, innovative solutions and unified responsibility
sharing, some setbacks were also witnessed during this process ranging from communication
gap to divergent visions towards business strategies. Detailed below is therefore the
explanation regarding positive and negative contributions made by group members; -
Positive Reflection on group contributions
- One of the positive contributions that were witnessed during this simulation activity is the
team work of group members. One such instant happened during round 4 when team
faced challenging situations pertaining to rising demand of the product, the team
collaborated efficiently and collectively devised a strategy to combat the ongoing rise in
demand. Such collaboration ensured pooling of resources and expertise of all team
members in the best interest of the company.

- Another positive contribution made by the team members was to develop innovative
solutions for the complex supply chain issue where supply of the material required for
production of smartphones went short from market. In order to fight this challenge, the
team implemented new logistics strategy after thorough deliberation where new material
from a different supply chain channel was sourced. This not only help immediately
address the problem but also improved efficiency of the company on long term basis
bringing alternative solution for the company in future too.
- Team work is successful when members of a team take shared responsibility of their
decisions and the outcomes associated with such decisions. During this activity, team
members were able to demonstrate commitment towards shared responsibility and owned
every decision they made in collaboration without blaming any of the members for their
mistakes or negative outcomes.

Reflection on Challenges towards group contribution

At one point where team members demonstrated positive performance, at the same time there
were also some challenging situations that were faced during this activity.

- First of all, it was observed that there was constant communication gap among team
members. There were certain decisions were made either individually by one team
member or some of them collectively without taking the consent of remaining team
members. The issue could have serious consequences; however, the issue was resolved
through constructive criticism and feedback during team meetings mean to emphasize on
the importance of clear, timely and transparent communication among team members.
- Every team member brought an innovative mind which had vision of his/her own. Every
member of the team had divergent vision for the company which led to conflicts while
making decisions. For example, during round 5, all team members had different strategy
in mind for positioning company’s products which not only created confusion but also
effected efficiency of the company. The issue therefore was resolved through constructive
discussions.
Above stated are some of the negative contributions that were made during this activity.
Despite having conflicts due to communication gap and divergent visions, the team was still
able to handle such challenges amicably through discussion and feedbacks.
SECTION 3: SIMULATION BASED BUSINESS ACTIVITY: A
CRITICAL REVIEW
Detailed below are is the critical analysis of this simulation-based business activity. Where at
one end the activity had its advantages, it also demonstrated some limitations associated with
it. Following is the details of the same; -

3.1. Positive Learnings

- Running business operations is complex task and requires business managers to take
immediate decisions based on prevailing market conditions. This simulation activity gave a
glimpse of how businesses operate in real world. It helped team members to deal with
dynamic market conditions, developing strategies accordingly and absorb pressure enhancing
understanding of business complexities and how to deal with them in a timely manner. This
activity has helped bridge gap between theory and practical helping grow my mental
capabilities.
- Another positive learning that was witnessed during this activity was development of an
ability to function in an environment where decisions are influenced by diverse perspectives.
This learning has enabled me to get hold of such decisions and contribute towards cross-
functional team tasks where team members share varied expertise.

3.2. Limitations of the Activity

- The activity had its own limitations as well. Where at one end, the simulation activity
helped understand that how real-world businesses operate, at the same it the simulation
activity was unable to fully mirror unpredictable and dynamic business scenario where
market conditions quickly change and cannot be predicted effectively well before time which
in a controlled business simulation cannot be completely understood.
- The results obtained in a simulation activity and their interpretation is sometimes
questionable as they may not be directly applicable in a real-world scenario. This also raises
question that how a simulation-based activity can well align with the complexities of real-
world business operations.

Despite its limitations, the simulation-based business activity is a useful tool for students to
understand the practicality associated with businesses in a real world.
3.3. Skills Development and Employability

This activity has helped bridge gap between theory and practical allowing me to understand
the modalities of business operations being run in real world. This activity has helped me
develop my skills related to prompt decision making under pressure, ability to deal with
dynamic situations and also enhanced my ability to create innovative solutions to problems
through strategic thinking. Detailed below are the skills that I have developed through this
activity and an explanation on my employability through this simulation business task; -
- This activity has helped me understand that how problems are dealt in a strategic way.
This has made me understand to see things in a broader perspective and have made me
realize that when a business problem occurs, one needs to understand its long-term impact
on business performance rather than jumping into quick solutions. It is very important to
provide solutions which align with business objectives.
- Another important skills that I have developed during this process, is the ability to make
decisions under pressure which is an important trait required in a successful business
manager.
- As mentioned earlier, business environment is always dynamic which quickly changes
due to numerous factors. Therefore, an ability to adapt quickly to changing market
requirements hold integral role in business success. I personally has learnt to become
adaptable to changing business environment.
- Ability to have problem solving approach is a highly desired trait in a successful business
manager. When he/she faces certain challenges, she must have an approach towards
finding a reasonable solution of the existing problem. Through this activity, I have
developed strong problem-solving skills which is required to run a successful business.

After having a thought-provoking business simulation session, it is evident that I have

developed strong skills related to strategic decision making, problem solving approach and
ability to adapt quickly to changing business environment has definitely increased my
employability. After learning above stated skills, I cannot only become eligible to apply for
number of roles in a business setting but can also look into running my own business some
day because through this activity, I have been able to get a glimpse of how businesses usually
operate in a real-world setting.
3.4. Recommendations to Improve Simulation Activities

As mentioned previously that simulation business activity helps bridge gap between theory an
practical, helps improve skills and employability, there are still number of areas which can be
improved in order to enhance the effectiveness of such simulation based business activity.
Detailed below are some of the key recommendations which can help increase the effect of
these activities on individual and group skills development; -

- First of all, such simulation activities can be further advantageous if real time market
dynamics of a particular industry are incorporate in this simulation where participants are
required to study real time business environment of certain industry and devise strategies
and solutions to combat the challenges being faced by the industry. Such initiatives would
definitely reduce further gap between theory and practice.
- In simulation activity where students may generate their own challenges, it is important to
incorporate unexpected challenges which are assigned to them and they are expected to
find an innovative solution suitable to controlled business setting.
- Further introducing advance communication tools in such simulation activity would
further enhance its effectiveness. Technologies like MS project management and other
platforms for clear communication can foster an environment of continuous learning and
growth.
- The simulations tasks are required to modernized in accordance with changing market
preferences in order to keep them relevant. Such initiatives would further enhance the
effectiveness of such simulation-based activities.
- Lastly, defining a mechanism of constructive feedback would further guarantee improved
learning and enhanced professional skills development among participants.

CONCLUSION

In conclusion, we can state that this executive report has taken you to a valuable journey of
learning through simulation-based business activities. Its benefits range from improved
decision making, strategic thinking to problem solving skills and also has some limitations in
the area of its applicability in real world scenario. The report has further provided details of
how participants have performed individually as well as in groups in order to accomplish the
given tasks. In general, we can state that this activity reflects on future and can prove that
such simulation activities can actually help improve skills and have important role in career
growth and development.
References
1. Faria, A.J., 1998. Business simulation games: Current usage levels—An
update. Simulation & Gaming, 29(3), pp.295-308.
2. Sterman, J., 2010. Business dynamics (p. 982). Irwin/McGraw-Hill c2000
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