Business Simulation: Vision, Strategy, and Performance Analysis

Business simulation

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
Vision and strategy over 9 years..................................................................................................1
Review on the performance of company.....................................................................................2
Development of future plans and recommendations...................................................................7
PART B...........................................................................................................................................8
Abstract........................................................................................................................................8
Introduction and identified events...............................................................................................8
Application of theory and practices.............................................................................................8
Discussion..................................................................................................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Business simulation could be defined as the technique which is used to provide training
to the students regarding running a business in future. With the help of it, individual can get
knowledge of the way in which they should run their business in future. If a person who is
studying in university have a vision of establishing own business in future, then it will be very
important for that person to make sure that business simulation is studied in university in
systematic manner. It will be beneficial to improve skills and capabilities to run own business in
upcoming years. On the other hand, professional development could be defined as the process
which is required to be focused by all the individuals for the purpose of improving their skills
and capabilities. With the help of it, the students will be able to make sure that they are reach
their long as well as short term career goals and objectives (Arnold, 2020).
Present report is based upon Phone Venture which is a smart phone company and having
a mission of taking over the industry. This assignment covers various topics such as analysis of
vision and strategy of the organisation, along with values, culture and human resource,
assessment of simulation results, performance and position of the business. Along with this,
recommendations for future developments are also discussed in this assignment. On the other
hand, the second part is focused with personal and professional development in which different
events along with leadership theories are discussed.
PART A
Vision and strategy over 9 years
Vision: It could be defined as long term objective of the enterprises which is required to
be accomplished to sustain in market. In other words, it could be described as long-term view
where the entity wants to establish itself in upcoming years. Vision of Phone Ventures is to attain
competitive advantage within the industry and try to become the market leader in the industry.
Values: It is very important for all the entities to make sure that they are focused with
different types of values because it can help to reach all the business objectives. In Phone
Ventures the management is focused with supporting all the staff members to perform their work
properly. Apart from this, this business also follows values such as meeting expectations of
customers and offering them good quality products (Beroz, 2017).
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Mission: It could be defined as the core purpose of business for which the business is
executed. It is essential for all the entities to make sure that they are formulating appropriate
mission for future as it will be beneficial for carrying out operational activities in systematic
manner. The mission of Phone Ventures is to generate more and more profits so that profitability
of business could be improved and all the operations could be carried out properly.
HR: Human resource is the number of employees who are working in an organisation for
the purpose of meeting all the business objectives. In Phone Ventures the managers are paying
attention towards meeting expectations of all the staff members as it can help to accomplish all
the goals and objectives. All the employees who are hired by the entity trained under training and
development programs of it.
Culture: For all the businesses it is very important to make sure that they are able to
follow a specific culture because it will be beneficial for meeting expectations of staff as well as
other stakeholders. In Phone Venture role culture is followed by the managers which helps them
to assign specific roles to all the staff members that facilitate them to meet all the desired goals
(Cindrich, 2017).
Review on the performance of company
Analysis of competition: For all the entities it is very important to make sure that they are
able to analyse the level of competition within the industry as it can help to formulate effective
strategies for future. As Phone Venture is a smart phone company which is operating its business
in different countries so it is very important for it to analyse the competition within the industry.
For this purpose, Porter’s five forces analysis could be used. Discussion of all the elements of it
in context of the enterprise is as follows:
Porter’s five forces: This model was developed by Michael Porter for facilitating
businesses to determine the level of competition within the industry in which they are operating
their operations. All the forces of it are discussed below for Phone Venture:
 Competitive rivalry: This force is mainly used to determine the level of competition
within the industry which may affect functionality of business. It is very important for
businesses like Phone Venture to be aware of all the key competitors so that effective
strategies for meeting all the business goals could be formulated. Some of the competitors
of the entity are I Tech, DHgate, Banggood etc. It shows that competitive rivalry for the
enterprise is very high (Crews, 2018).
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