Abstract
Business simulation is simulation used for business training or analysis. It can be scenario-based or numeric-based. Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, financial analysis, market analysis, operations, teamwork and leadership (WIKIPEDIA).
The authors participated in a simulation. The results and mistakes are discussed in this presentation. The authors also discuss the theoretical foundations. This book contains the presentations illustrated and supplemented by explanatory texts.
Content
1. Team Organisation
2. Environmental and internal strategic analysis
3. Strategic brief
4. Strategy review
5. Internal control system
6. Financial analysis
7. Conclusion
Keyword
Business simulation, reflection report, automotive industry, Team Organisation, Environmental and internal strategic analysis, strategic brief, strategy review, internal control system, financial analysis, conclusion, leadership, teamwork, storming, norming, forming, performing, PESTEL, Porter diamond, Porters five forces, start up, market penetration, profitability, new products, relaunch, R&D, KPI, Product portfolio and target markets, SOWT, marketing mix, 4 P, Product, Price, Promotion, Place, Plan, Results, Lessons learned, miscommunication, communication process, COSO, Internal control framework, 5 year trend, profitability analysis, efficiency analysis, investment analysis,
Inhaltsverzeichnis (Table of Contents)
- Team Organisation
- Environmental and Internal Strategic Analysis
- Strategic Brief
- Strategy Review
- Internal Control System
- Financial Analysis
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This report analyzes the results of a business simulation undertaken by a team of students. The analysis focuses on the team's experience and decisions, discussing their theoretical foundations and the lessons learned. The report aims to provide insights into team dynamics, strategic decision-making, and the application of business principles within a simulated environment.
- Team dynamics and leadership
- Strategic analysis and decision-making
- Internal control systems and financial analysis
- Application of theoretical frameworks in a practical context
- Lessons learned and reflections on the simulation experience
Zusammenfassung der Kapitel (Chapter Summaries)
- Team Organisation: This chapter examines the team's organizational structure, leadership dynamics, and teamwork approach. It discusses the team's journey through Tuckman's stages of group development (Forming, Storming, Norming, Performing) and the impact of individual skills and contributions.
- Environmental and Internal Strategic Analysis: This chapter explores the external and internal factors influencing the team's strategic decisions. It delves into the application of frameworks like PESTEL, Porter's Five Forces, and SWOT analysis to assess the business environment and identify opportunities and threats.
- Strategic Brief: This chapter outlines the team's chosen strategy for the simulation, including their objectives, target markets, and key initiatives. It discusses the rationale behind their approach and the factors considered in developing their strategic plan.
- Strategy Review: This chapter analyzes the implementation and performance of the team's chosen strategy. It evaluates the success of their initiatives, identifies areas for improvement, and explores the impact of their decisions on various aspects of the simulated business.
- Internal Control System: This chapter focuses on the internal control mechanisms implemented by the team to manage risks, ensure compliance, and monitor their operations. It discusses the importance of internal controls and their application within the simulated business environment.
- Financial Analysis: This chapter examines the team's financial performance during the simulation. It analyzes key financial metrics, including profitability, efficiency, and investment decisions, and explores the relationship between financial performance and strategic choices.
Schlüsselwörter (Keywords)
Key terms and concepts explored in this report include business simulation, team organization, leadership, teamwork, strategic analysis, PESTEL, Porter's Five Forces, SWOT, strategic brief, strategy review, internal control systems, COSO, financial analysis, profitability, efficiency, investment analysis, and lessons learned. These terms highlight the focus of the report on the practical application of business theories and frameworks within a simulated environment.
- Quote paper
- Markus Baum (Author), Jörg Dickerboom (Author), Marco Hackstein (Author), Marcel Mehling (Author), 2010, Business Simulation, Munich, GRIN Verlag, https://www.grin.com/document/194604
