The objective of this Globus video game is to run a business in the genuine environment which is we will contend with other business. On this simulation I am becoming co-manager of a video camera industry. All of the company have 2 items in the market which is Entry level electronic camera and multi included camera. And the market area is divided into 4 region which is:
One group have 3 members, and in my business simulation we got 8 different business.
Each company has to run the camera service each week, one week in reality is represent 1 year in the simulation for a successive 10 weeks. The ultimate goal for all the companies is to control the marketplace of the video cameras industry, the very best cam company in the market is to get the target that give by the investor expectations, gaining the most market share and image score and preserving an excellent credit score.
By doing the virtual organisation video game with my group member, I had to have the ability to analyse business every year, what the methods I need to do, and how to get high dividend and financier expectation. By doing this procedure I can totally comprehend what occurring with this industries and how to improve this business. These example enable me to comprehend principle in the market and establish a method to win the competitors within the industry. By experiencing this virtual company video game I have find out about service management, starting from production expense, marketing, marketing, marketing, target market, shipping labour forces, monetary choice, and company plan.
all of this components will affect the organisation efficiency. On this video game I likewise find out from the compotetion btween the business in this industries.Every single company have a different techniques to dominate the industry. All the strategies is depend upon the present situation and target market.and the competition is on all the time since the compotitors I constantly discover the brand-new strategies to beat our company.so we require to come up with brand-new techniques.
On the first week of the Globus game we were trying to change the decision entry as what we did in the Globus practice using on our knoledege about business menegement Activating Experience : With lack of knowledge that we got on the first year result is under the investor expectation ,eventhough we tried so hard to do this decision entries. Belief : We failed to believe that with our lack of knowledge our first year results is unsatisfy ,.it is make our companies is behind other companies. Consequence : Other companies performing well on the first year so our company is one step behind .Our results for EPS ,ROE and image rating is so much behind others companies.So it is hard for us to chase the other companies that performing beyond our companies as well as none of our group member really understand about business. Dispute : I have learn that when you make your company you need to understand everything about it from the market , business pla and etc. Because first year is the most crucial for your business to see the prospect of your business. So you need to learn before you do it.
Context: Our group have develop different strategies every year Activating Experience: We are trying to do the strategies to get more profit on that year and didn’t planning for the coming tyears Belief: We failed to belief that our strategies is failed because we didn’t see the situation of the market and we didn’t planning well for the coming years like warranty I s the most issues of our comapny Consequence : Our result is dropped every because we have no analyse market and our bad planning for the future , so until the very end of the year we still have outstanding loans Dispute : I learned that it is really important to research about he target market and the planning of future business.
Context: We always change our p/q rating every year Activating Experience : we always change our p/q rating to be the same as the leading companies ,hoping that we can compete with them Belief: We failed to believe we didn’t choose our p/q rating since the first year , by changing the p/q rating every year it boost our market share and kick us out of the competition.because we don’t choose the target market of our companies , which is always changed every year Consequence : Our companies rank is dropping until it aalmost the last position , and we have no target market Dispute :I have learn that I cant use other company strategies , but I have to find the new strategies that can beat them in theyre market.And I would make sure to develop my own strategies to take against other companies.
For some of the week our globus group couldnot focus on globus game Activating Experience : The Globus team unsatisfy with the result that not stable , and we didn’t do well on some of the year Belief : I failed to believe that because 1 didn’t stay focus to do the globus simulation game. Consequences : Our company have a bad start and the result in the middle year is falling down.we keep losing point every year until it reah the peak and our company made a loss.The biggest mistake was that we did not understand the game completely and this made us suffer for the beginning of the years. Dispute : I would like to completely understand on how to run the company and be able to do full analysis and research in the industry. And the most important thing to run the business is to keep focus to run the business to make a succesfull business
Context : In all of the group meeting, we as the co-managers, had agreed on the decision to take and do the Glo-bus together. Activating Experience : During the very last minutes of before year 11 or 12 decision was due, one of the co-managers changed the decision and we were not informed about that. Belief : I failed to believe that we all had agreed on all the decisions we had come in group meeting and nobody would change any decision without any consent from other co-managers. Consequences : Our company was in the second last position due to the loss that we got. The co-manager decided to significantly lower the price to gain more market share, but in the end the decision was against us. Dispute : I would never let my team member to do that anymore. Since then, I learned that I had to check all the decision entries just before it was due to make sure everything was okay and according to what we agreed in the group meeting. I learned that this kind of action could be fatal and as a result, it would be hard to manage the profits year after.
Context : After couple of weeks of hard time, we had to sit down together, share ideas and run the Globus game together to make sure we really understand Globus. Activating Experience : We had to analyse the competition in our industry and think many possible strategies to counter our competitors. Belief : I believed that as co-managers, we had to completely understand Globus and make sure that everyone in the team really understood what was happening since this was the best way to run the company. Consequences : We managed to bounce back at the end. Our position kept increasing every year up to 5th position which was not that good for the progress of the company. In the end, with everyone sharing their opinions and ideas, we managed to go as one team to help the company that was already in a bad position due to bad performances from previous years. Dispute : I learned that by getting together as a group and shared knowledge and analysed the industry together, we could manage to be the best actually.
Context : After our company had bounced back, we had to keep doing our strategy so that our company could get better. Activating Experience : We had to do analysis every week carefully to see what the best opportunity and strategy to take. Belief : We believed that by doing analysis every week, we could maintain our position. Consequences : Our company was getting better every year onwards since year 12 and 13. This was because we had understood on how to play the game. We did analysis and research every week to find out what strategy we could implement. Dispute : I learned that by completely understand the game, the game was actually interesting. Now I know how business works in real life. Everything was related with another and each decision was really important.
Remember! This is just a sample.
You can get a custom paper by one of our expert writers.
Get your custom essay
Helping students since 2015
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download