This report discusses business simulation and professional development. It covers topics such as vision and strategy, progress review, competitor analysis, market share, and competencies of V Connect, a smartphone company. It also highlights the importance of personal development in achieving career goals.
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Table of Contents INTRODUCTION...........................................................................................................................1 PART A...........................................................................................................................................1 1. Vision and strategy..................................................................................................................1 2. Review of progress of each year..............................................................................................2 3. Future plans and recommendation...........................................................................................9 PART B.........................................................................................................................................10 Executive Summary...................................................................................................................10 Introduction................................................................................................................................10 Identified events.........................................................................................................................11 Review of relevant models or theories......................................................................................12 Review of practices of industry.................................................................................................12 Application of theory addition to practice.................................................................................13 Discussion..................................................................................................................................14 Recommendations for practice and research.............................................................................14 CONCLUSION..............................................................................................................................15 REFERENCES..............................................................................................................................16
INTRODUCTION Business simulation can be defined as an opportunity for potential entrepreneurs as it requires the students to set their own business with a new idea and under real market situation. While playing the simulation game they are required to make sure that they form effective decisions and try to increase profitability of business. With the help of it, individuals can experience the challenges and situations which could be faced when they will operate their own business. It can also help them to experience the market changes, trends, competitors and other key elements which may leave impact upon the functionality of business. Apart from this, personal development can be defined as the process of taking actions to develop own capabilities and skills so that all the difficult tasks in future could be performed. It contributes in the growth of an individual as it guides to take appropriate steps to enhance personal qualities to meet career goals(Aithal, 2016). Present report is based upon a simulation game as well as professional development and both of them are reflected in separate parts. First one is based upon a company which is V Connect it is a new company and it is involved in the production of smart phones. Slogan of the entity is connecting the world. The main competitor of the company is I-Tech which is also operating business under the same industry. The first part covers various topics such as mission and strategy, review of progress of all the years and future plan along with recommendations for the business. Second part is based upon reflection of professional development. In this part of assignment different events will be identified and reviewed, appropriate theories for their management will be applied and recommendations for practice and research will be discussed. PART A 1. Vision and strategy While operating a business it is very important for the owners to formulate specific vision and strategy for carrying out all the operational activities systematically. V Connect is a company which is operating business under smartphone industry. It is involved in production of smartphones that are sold in different countries such as Netherlands, Belgium, France, China, UK, US, Malaysia, UAE, Germany, Japan, Nigeria, South Africa, Indonesia, Canada etc. In order to execute all the operations properly different elements are focused by the entity which are described below: 1
Vision:The vision of V Connect is to shape the future of information technology and be the market leader in future so that it can capture a large market share (Brijs, 2016). Mission:V Connect’s mission is to produce smartphones that are based upon latest technology in affordable price so that the number of customers from every class whether it is lower, middle or upper could be increased. Values:V Connect is highly focused with acquiring loyalty of customers as well as the staff members as it can help to grow the business and meet the long-term goals. Apart from this, the enterprise is also focused with delivering best services to the clients by making sure that advanced technology is used to manufacture the mobile phones. HR:For all the business entities human resource play a major role in the attainment of all the organisational goals. V Connect make sure that it is having skilled and experienced individuals in all the departments of it so that growth for business could be acquired. The entity is also focused with providing appropriate training to all the staff members as it can help to facilitate them to perform all their jobs properly. Culture:While operating business at a large platform it is essential for companies to make sure that their culture promote creativity, positive working conditions and equality. V Connect is paying attention towards all these elements so that the employees can perform their jobs properly and motivated to enhance productivity of whole enterprise (Burger and Luke, 2017). Apart from this, the organisation adopts range of strategies like proper leadership, combination of costs etc. which facilitate it to engage stakeholders in the business activities. The culture of V Connect is innovative and flexible which help all the employees to work properly and function the whole company in systematic manner. 2. Review of progress of each year For all the business entities like V Connect it is very important to review the progress on yearly basis as it can help to analyse weaknesses and threats for business. If an enterprise will not review the progress then it will be very difficult to reach the long-term goals such as higher profitability and market share. Another situation which may take place due to this is improper execution of all the operations. For the purpose of reviewing the performance two main aspects are required to be followed these are competitor analysis and performance results(Hassen, Turki and Gargouri, 2016). 2
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Competitor analysis:While analysing performance with the help of competitor analysis factorssuchasporter’sfiveforces,marketshare,product/priceanalysis,competitors, competencies and capabilities could be analysed. Discussion of all of them in context of V Connect is as follows: Porter’s five forces:It is mainly used for the purpose of analysing competitive position of a company in the market. There are five main forces of it which are discussed below for V Connect: Bargaining power of customers:All the individuals who are buying products from an organisation and using for satisfy their needs are known as customers.When there are law number of sellers in the market then the bargaining power of customer swill be low and in opposite situation the bargaining power will be high. The number of smart phone sellers in the Netherlands, UK, China, Japan, US, UAE, Germany etc. is very high and due to this the bargaining power of customers for V Connect will be high. In order to maintain the sales-level the management is required to take appropriate actions so that bargaining power could be reduced (Heiskala, Jokinen and Tinnilä, 2016). Bargaining power of suppliers:The external stakeholders who are delivering raw material to the manufacturer are known as suppliers. While planning to perform all the operations in systematic manner it will be very important for V Connect to maintain good relations with suppliers so that they can supply goods on lower cost. The number of suppliers in smart phone industry is high so that bargaining power of them for V Connect is very low. When one of them will sale stock on higher cost then the company can contact another party, which is selling the same items on lower cost. Threat of substitutes:All the items that are providing same benefits to the users are considered as substitutes for each other. Some of the main substitutes for smart phones aresmartdevices,videocallingportalsetc.Theseareminorsubstitutesforthe organisation and their threat for the entity is very low. It shows that there is very low threat of substitute for V Connect. In order to ignore the little threat, the entity is required to focus upon differentiation so that large number of customers could be attracted (Lenart, 2016). Competitive rivalry within industry:For all the business entities it is very important to identify the major players in the industry so that level of competition could be identified. 3
V Connect is operating under smart phone industry and the main competitor for it is I- Tech which is also dealing in same types of products. There are various other smart phone manufacturers in the market and it shows that the competitive rivalry in the industry is very high for V Connect. Threat of new entrant:In last few years various new companies are being introducing innovative smart phones with new technology. It shows that threat of new entrant for V Connect is high as various new entities may use new technologies to launch smart phones in the market. Market share:V Connect is operating business under smart phone industry of different countries. Netherlands is the home country of the company and the other nations in which it is carrying out operational activities are UK, US, UAE, India, China, Germany, Japan, Canada, Malaysia etc. As the home country of the entity is Netherlands so that market demand on the basis customer focus is analysed for year 2020 to 2029. In 2020 the total segment demand on the basis of market segment was 384000 and in this year the organisation have not made any sales. For 2021 and 2022 the demand was 276480 and sales for the years were nil. In 2023, 2024, 2025, 2026 and 2027 the demand was increased up to 304128 and the sales was the same which is 0. In year 2028 and 2029 the market demand on the basis of customer focus was 319334 and the sales for the year was 78135 and 66663 respectively (Mansour, 2016). The analysis of market shares shows that the demand of products of V Connect was very high during the year 2020 to 2027 but the entity was not able to sale any product on the basis of customer focus. Since year 2028 the organisation started to sale the smart phones. It shows that performance of it is high and in future it will be enhanced. Product/ price analysis:While planning to analyse performance of an organisation it is very important for the management to analyse product or price so that actual performance could be assessed. In year 2020 according to the price the demand of products of V Connect was 1800000 but the sales was very low as compared to it which was 505933. On the other hand, the total segment demand on the basis of quality for 2020, 2021 and 2022 was 240000 and 172800 respectively and sales for the same was 0. In 2021, 2022 the total segment demand on the basis of price was 1377000 and sales for the same was 420621 and 381247 respectively. In 2023 the demand on the basis of price as well as quality was increased. The sales on the basis of price was 390471 and for product quality it was 0 same as previous years. In 2024 total sales on the basis 4
of price was 223458 which was decreased as compared to previous year and the demand for the same was 1514700 which is increasing continuously. The sales on the basis of product quality was also 0 for 2024, 2025, 2026 and 2027. For year 2025, 2026 and 2027the demand on the basis of price was same but the sales were 242025, 122539 and 117284 respectively(Outmazgin and Soffer, 2016). In 2028 and 2029 the sales on the basis of price was 0 but on the basis of product quality the organisation was able to generate the sales of 23754 and 21090 on the demand of 199584. The analysis of product and price shows that the entity was generating good sales from 2020 to 2027 and in the same year the sales was not made by the entity on the basis of product quality. In 2028 and 2029 sales was generated on the basis of quality rather than price. It shows that the company is required to make sure that it tries to meet the expectations of clients so that they demand could be met. The demand in the market of Netherlands is very high but the supply of smartphones is very low. Competitors:While planning to reach all the long-term business goals it is very important for all the companies to make sure that they are analysing the competitors which may leave impact upon functionality of business. The major competitor for V Connect is I-Tech which is also a company operating under smart phone industry. By formulating effective strategies V Connect will be able to deal with it and attain competitive advantage in the industry. Competencies and capabilities:It is very important for all the entities to analyse their own competencies and capabilities so that the ability to meet expectations of clients could be analysed (Păunescu, Popescu and Blid, 2018). All of them can help to respond all the challenges such as lower demand, unsatisfied customers etc. By analysing performance of V Connect different capabilities and competencies of the entity were identified. Some of them are discussed below: Very high demand of products in home as well as other countries:With the help of product, price and market analysis it has been analysed that the demand of smart phones of V Connect is very high in Netherlands as well as other nations where it is operating business. With the help of it, it can sustain in the market for long run and reach all its business goals successfully. Large marketplace:This competency is also identified with the help of market share analysis. As the company is operating business in different countries so it shows that it has captured a large market share. Apart from this, very high demand in the market also 5
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shows that the market place for V Connect is very large where it can sale its products and meet the business objectives (Ranta, Aarikka-Stenroos and Mäkinen, 2018). Performance results:While analysing the results of performance there are several topics which are required to be focused by all the business entities. These are evaluation of strategy, decision, marketing, HR, Logistics, accounting, product development or event response. By analysing the financial statements, the performance results could also be assessed. The analysis of all the final accounts is as follows: Income statement:It is one of the main final accounts in which detailed information of all the incomes and expenses is mentioned. By analysing the results in the business simulation game, it has been analysed that for 2020 the gross profit of V Connect was 101451 and the net income for the same year was 70683 in negative. In 2021 the gross profits were decreased up to 95478 and net loss was increased up to 101990. During year 2022 the GP was increased up to 152707 and the net loss was increasing continuously and it was decreased up to 257884. For 2023 the gross profits were 293130 and net loss for year 2023 was 222799. In 2024 the gross and net loss were 4780 and 647630 respectively. In 2025 the profits were increased up to 11351 and net loss for the year was 687461. For 2026, 2027, 2028 and 2029 the gross profits were 41717, 50347, 263139 and 240814 respectively. The net losses for the same period were 703589, 790704, 732837 and 853186 respectively (Samouylov, Gaidamaka and Zaripova, 2016). Balance sheet:It is also known as statement of financial position as details of all the finance related are mentioned in it. The balance sheet of V Connect is showing 406694 cash for 2020 and the total equities and liabilities for the year were 490281. In 2021 the cash was decreased up to 287550 and the total of equities and liabilities was 383023. In 2022, 2023 and 2024 the entity was not having cash for carrying out operational activities which shows that in this year performance of the company as very weak. It affected the functionality of business and resulted in very bad execution of operational activities. During the year 2025 the enterprise taken overdraft of 159964 which is a very huge amount and it increased the liabilities of the company for the year. From year 2022 to 2029 the organisation as not having cash as during these years net loss was faced by the entity. During the period of 8 years the entity has gone through very bad times as lack of cash has affected the operational efficiency to meet the long-term goals. The total overdrafts for year 2029 were around 471218 which shows that V Connect is operating business by taking money from bank as it is having lack of funds due to insufficient profits. 6
Cash flow statement:In order to keep record of all the cash related transactions all the organisations generate cash flow statement which helps to analyse liquid strength of the business. Apart from thus it also helps to analyse that the entity will be able to meet all the short-term obligations in one year or not. The cash flow for year 2020 is showing total inflow of 526772 and the expenses for the same are 634564. It shows that the entity will not be able to meet all the expenses as the incomes are lower than the expenses. Incomes for 2021 to 2029 are 490390, 644570, 1329416, 1615518, 1379725, 1096142, 1114518, 1228727 and 1292391. The expenses for the same period are 608534, 927620, 1324416, 1610518, 1374725, 1091142, 1109518, 1223727 and 1287319. The incomes and expenses of all the years are showing that in year 2021, 2022 and 2024 the company will not be able to meet all the expenses as for these years expenditures are higher than incomes. In 2023, 2025, 2026, 2027, 2028 and 2029 organisation will have cash inflow as incomes in these years are higher than the expenses. The cash flow statement shows that the company will be able to generate cash inflow continuously in last five years which are 2025 to 2029(Winston, 2016). From the analysis of final accounts, it has been determined that profitability of V Connect is very low and with lower profits it is very difficult to perform all the operations systematically. In order to enhance the performance, it will be very important for the company to take effective actions so that it can improve the performance and meet long term business goals. The income statement is showing that from 2020 to 2029 the entity was only having net loss which is reflecting very low profitability. Balance sheet is showing since past few years V Connect was not having cash to support the operations. It shows that performance of company was not good but the business was surviving because of the overdraft amount which ws taken by the entity. Performance analysis: It is about studying or evaluating performances of an organisation in particular scenario as compared to its objectives that was to be attained(Borko and Et. Al., 2015). It is considered as a measure of failure or success of entity in some project through using multiple parameters. It assist in building positive culture to manage performances which yield excellent results. At the time when managers of company are planning for analysing performance through checking detailed information about all business elements in proper manner. It covers aspects involving evaluation of decisions along with strategy. The main decisions that company analyses are marketing, accounting, event response, human resource and product development. 7
According to decision taken by V Connect managers, it has been evaluated that the demand for smart phones of the entity are very high. However, it was unable to meet all of the demand due to ineffective marketing strategies implemented by it. With this, it is seen that the marketing department of the smart phone company are unable to attain sales target as per the numbers defined in its business model(Farrell, 2015). From the past years, it is seen that the performance of the business are getting worst as revenues generation is decreasing and loss margins are increasing. The entity requires setting and implementingeffectivemarketing strategies in order to sustain in the market and overcome situations of losses. Decision making done by HR manager in V Connect are about recruitment, selection, training,development,compensation,employmentpolicies,performancemanagementand practices. It is evaluated that the skill set hired by human resource managers are competent and have huge innovative ideas for assisting in achieving targets. The company applies workforce planning strategy along with workforce development strategy that benefits the entity in meeting skill gaps and required employees to complete production targets and accomplishing sales results (Jang and Lee, 2016). As per reports of V Connect, it is seen that multiple number of changes are executed by entity in decision or strategies for logistics in order to frame detailed organisation along with executing complex operations to manufacture large volume of smart phones in limited duration. It is reducing quality among smart phones resulting in reducing inability for meeting demands and so on. All these have impacted negatively on business as customers are least buying products offered by the entity and this influenced sales for the products during 2019 to 2029 negatively. In the smart phone market, large number of companies operates business that creates huge competition for V Connect. The strategies that are adopted by the managers are totally different from others. For instance, the features and apps in smart phones of V Company are different and prices are not affordable by all types of customers. Because of this, the company has attained new losses within the year 2019 to 2029 and needs to devise and implement effective strategies in order to achieve high profits. The management department of V Connect emphasises on various elements with the purpose of devising suitable and effective decisions. The main decisions that the department has implemented are in context to marketing, product development, accounting and many more. By considering its updated records, it has been evaluated that the company have not mentioned any 8
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particular information about marketing that states that the entity have not devised any effective marketing strategies till yet. It is only working with normal promotion and marketing strategies to attract people(Summers, 2014). Moreover, in context to its staff numbers, it is seen that the hired human resources were productive, competent and posses required skill set as were properly managed by top level administrators. Furthermore, it is also determined that the company has not published any information about its product development that reflects that minimum changes were only made by it in its smart phones between 2019 to 2029 years. The company supply its offerings in multiple nations that state that it is very crucial for it to meet demand for its product in all countries including home country as well. As per its records, the sales made by it in the period of 2020 to 2029 are 57543, 48310, 653326, 113593, 955841, 665691, 353312, 313738, 500259 and 429043 that reflects that the company has implemented various strategies to achieve as maximum sales as possible. The information of final accounts of V Connect shows that it has achieved losses in all these years and managers have not taken any decisions about accounting strategies in order to solve the issue. 3. Future plans and recommendation In accordance with the performance analysis of V Connect, it is analysed that the business performance is weak as compared to other companies in the industry. For it, it is important to devise effective strategies to solve the issues (Winston, 2016). Some of strategies which need to be emphasised by the entity in coming 5 years are underneath: V Connect is required to make various changes in the production procedures and recognize the weak areas in the operations to meet standards and product quality. Recommendation: For making changes in production procedure, operational manager of V Connect is required to buy effective machines and hire skilled employees to produce smart phones upto quality expected by customers. This will help in producing products as per preferences of customers, making more money, fostering performance and achieving profits. V connect manager also requires to execute research practices properly for identifying the important areas and trends through which they can attract large customer base and influence them to make product purchase. Recommendation: For executing research practices, marketing team of V Connect can employ more competent and experts in marketing as well as adopt effective methods and 9
sources. With this, it can recognise needs, preferences and choices of customers for apps and features in smart phones and manufacturing the same. This will influence its sales positively and help in making unique position in the competitive industry. PART B Executive Summary Reflective report is all about a player who has own smart phone entity that is V Connect which performs operations at different countries across globe. The entity started as small company but with passage of time and unbridled ambition, the entrepreneur took it on gigantic competition in which it traditionally leading the global smart phone market. It was sold by previous management team because of certain private reasons and is now working to realise the ambition plans. The aim is for ending as serious player of respectable size. Various markets will be opening the border for the player and will also offer diverse opportunities for enhancing sales. The report highlights about introduction of the business, professional development and how learning in MBA courses ad team working are different from each other. It further includes main identified events that are situation when I won points and score as well as comparison of cultural context and news in success of round. The relevant theory or concept is game theory and participative leadership concept. The company is also recommended for managing relations with suppliers and distributors addition to make certain changes in stages of production system. Introduction Simulation comprises of series of rounds and every round is equivalent to a year that might entail few themes addition to events (Greasley, 2017). Professional development is described to the procedure to improve and enhance capabilities of an individual with access of education as well as training opportunities at workplace or other job. When I was pursuing my MBA courses, I learnt various things about the concept of simulation. But when I started working in team I analysed that my learning in the courses are completely different as compared to the things that I learned in teamwork. This helped me in improving my knowledge that course materials along with the actual implementations are different to each other. At the time of working in a simulated business which is V Connect, I gained learning for various concepts that are how to perfrom in industry, what is simulation business and so on. It is one of young and owned Smartphone business which has aim of taking entire smart phone market in complete manner. It operates 10
under Phone Venture and has well educated as well as experienced staffs that have knowledge about all procedures in the company that value huge to the entity. The entity has presence in market of China, Belgium, Australia, Netherlands, UK, Japan, Malaysia, India, Singapore and many more. The reflection report comprises information about identified events, review of concepts or theories, industrial practices, theory application and recommendation for practice addition to research. Identified events Events refer to set of outcomes which takes place for specific reason with participation of humans (Getz and Page, 2016). It can be part of occurrence chain as an effect related to preceding occurrence or as grounds of succeeding occurrence. In simulation business, events can be said to positive or negative circumstances which occur during one of game rounds. At the time of working or managing operations in V Connect, I identified certain events through which as a player I enjoyed to build my image as successful player in the smart phone market. The identified events are underneath: Situation when I won points and score: It is the event which occurred when I was continuously playing well in the simulation game. V Connect helped me in winning points, score and position in the smart phone market as the decisions made by management about the ways to achieve success helped me a lot. Along with this, the event occurred as I analysed the decisions about strategies used by competitor players and then making my strategies to compete and win in the game. Moreover, decisions made by countries about the smart phone industry about its growth and development were also helpful in managing tough circumstances (Caramani, 2017). V Connect has won positions and points through being product leaders and raising quality of offered products to highest achievable levels. The human resource made huge attempts and efforts in promoting the product and sharing valuable decision about investments in countries. Comparison of cultural context and news in success of round: The products of V Connect were offered in the market in different rounds after analysing the cultural contexts of different countries. In this event, I and other team members that are known as respectful players collected information related to news about the organisation products and cultural context in different nations. I also analysed that decisions of management about dividing the team and delegating tasks to gather as more as possible cultural context and news about the products sold 11
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in different countries by other companies. Further, the collected news and contexts of cultures were compared and data about success of rounds was originated in the event. Review of relevant models or theories Theories and models refer to set of frameworks and accepted beliefs that guides to a person in entire working (Reigeluth, 2018). These are acceptable general principle which is offered for explaining phenomena that waves lights in to a field. The theories or concepts that I learned at the time when I initiated practices for V Connect: Participative leadership concept: The concept is all about the ways in which a leader turns to the team for ideas, observations and results despite of making entire decisions on their own. According to the concept, leader involves subordinates in decision making and also understands the skills and competences of each member so to use them wisely and effectively that benefits the organisation in future. In V Connect, I learned that participative learning theory aids leaders to facilitate conversation, encourage people for sharing ideas and making them valuable, taking best possible action, openly shares information, communicate decisions back to the team and synthesising available information. Game theory: It is the model that provides tools to analyse situations wherein players or parties makes decisions interdependently. With this interdependence, each player considers other players or opponents possible decisions, strategies and tactics to formulate own ones. Game theory was developed by John Von Neumann along with his colleagues for solving problems (Colman, 2016). It is applied in various situations or events in which choices of players interact for affecting results. It also helps people to figure out effective strategies in particular situation. Further,itassistsclient’spredictionsalongwithshapescompetitivedynamicswhile implementing major strategies. It is also effective for buying stocks as for making profits in market, companies use risk arbitrage. Review of practices of industry The activities and operations that are performed in particular industry for studying market needs, meeting them promptly and achieving targets of growth and expansion are defined as industrial practices (Moser and Dondi, 2016). Smart phone industry is one of emerging and fastest growing industry that offers integration of distinct platforms serving large purposes which are backed by decreasing material prices contributes in growth and expansion of global smart phone market. Around 170 companies from different nations performs multiple practices such as 12
maximisingsales,retaininghighestmarketshares,managingpublicrelations,innovating technology in smart phones and many more. V Connect is the company that practices in smart phone industry with the aim of shaping upcoming of information technology and take over smart phone market completely. At same time, other companies such as I Tech is its major competitor as it launches its phones with unique feature and advanced apps. It also replaces smart phones in the industry as per customer demand and influences people to buy the offerings through relationship marketing, large supplier chain and other promotional tactics. Application of theory addition to practice Reviewed theories and practices are applied by the players and leaders in V Connect in actual scenario. Application of concepts, theory and practices in the entity are as follows: Game theory: Players applies game theory to analyse the strategies and tactics used by opponents so to device their own strategies and implement them to win the game (Palacios- Huerta, 2016).By applying game theory, I attained success in winning points and scores in the game for V Connect. It helps me in making decisions in the event wherein different companies or people are competition for same position and target. It is seen that to achieve successful positions, various set of concepts to make decisions in events of competition addition to conflict are applied under specified rules. Application of the theory requires great practice and states that all players have detailed description and ways to play a game. The major description of game includes payoff functions of all the opponents and their preferences. By understanding these, I was able to win points and great scores. Participative leadership concept: Main application of participative leadership concept is done for analyse the ways leaders encourages participations of team members in collecting informationanddecisionmaking(Gerard,McMillanandD’Annunzio-Green,2017).The concept is applied in the situation to compare news and cultural context for success of rounds. By applied the concept in V Connect, I as a leader motivated team members to provide inputs for the decisions and share valuable thoughts for the event. Along with this, the theory assisted me to identify important news addition to cultural contexts to develop strategies for achieving targeted scores. It also allowed me to make other professionals as leaders to concert drastic situation into booming conditions for the company and ensuring active participation of each member to make them effective for demonstrating creativity, talents addition to abilities in achieving scores. It 13
further facilitated in making the team to discover loopholes and improving them which help the small organisation to attain drastic positive growth in the smart phone market. Industrial practices are also applied by me in V Connect in the following manner: V Connect is the company which was established as small smart phone business in the competitive smart phone industry. As the team leader of the entity, I research about the ways other successful companies works and maintains sustainability in the industry. Further, all the tactics, strategies and practices of competitors are shared by me with the organisational members and encourage them to applied the similar practices for achieving successful outcomes. In this context, I applied various practices in the entity that resulted in expansion, growth and official presence on multiple nations. Also, it resulted in unique position and accomplishing high targets in competitive smart phone industry. Discussion V Connect is owned smart phone company which performs main operations in Netherlands through producing and selling variants of smart phone. Along with this, it also has official presence in other countries including Nigeria, Canada, United Kingdom, Indonesia, India, UAE and many more. The vision of V Connect to operate in the industry is for shaping upcoming technologies in smart phone sector and becoming market leader through grabbing maximum shares and size. The mission of the business is to manufacture smart phones that are affordable by all customers. The company faces tough competition from domestic and international entities. It is also seen that it has sales achieved in the year 2020 to 2027 was high but after then the entity failed in focusing towards customers due to this it achieved lowest sales demand in 2028 and 2029. Moreover, with the success in 2020 to 2029, it can attain huge growth in the smart phone industry. Recommendations for practice and research Few recommendations to V Connect in context to practices and research are underneath: V Connect is recommendedto make changes in stages of existing manufacturing systemin order to produce mobile phones through making emphasis on customer changingdemands. As aleaders, I recommendoperationsdepartmenttoproperly examine production workflows along with identify loopholes. Also, the department should practice for adopting latest machines for producing high quality smart phones that meet demands of targeted population. 14
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V Connect is also recommended formanaging relations with large supplier and distributorseffectually to collect high quality raw materials at low prices and distribute finished smart phones to end customers promptly. Moreover, multiple suppliers can also assist in executing research related practices to collect information, news and cultural contexts about targeted customers in different nations with the hope of manufacturing products in accordance with available statistics and data. CONCLUSION The mentioned report concluded that business simulation is for experiential addition to activelearningthatismajorlyadoptedbybusinesstrainingorfurtheranalysis.Foran organisation, it is necessary to evaluate surrounding business environment as it assists in devising vision, mission, value culture and other essentials. Competitors analysis, market shares of entity, product or price analysis, competencies and capabilities, performance results and performance analysis assists in reviewing organisational performance in the market each year since its establishment. Personal development helps in acquiring and maintaining professional credentials by attending conferences, informal learning opportunities and many other ways. The key identified events in simulation include situations of winning points and scores addition to comparing news and contexts of cultures among countries. The theories which are related to simulation include game theory as well as participative leadership model. By implementing similar practices in business as industry have adopted it benefits the business to improve its own workings. 15
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