Business Simulation and Professional Development

This report discusses the concept of business simulation and professional development. It provides insights into the vision and strategy of I-Tech, along with a review of each year's progress. The report also explores the importance of professional development and its impact on workplace experiences. It discusses the role of human resources, organisational culture, and competitive rivalry. Additionally, it provides information on market share and product/price analysis.

BUSINESS SIMULATION
AND PROFESSIONAL
DEVELOPMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
PART A- STRATEGY PAPER.......................................................................................................1
Vision and Strategy of I-Tech................................................................................................1
Review of Each Year’s Progress............................................................................................3
Future plans and recommendations......................................................................................11
PART B - Professional Development Reflection Report..............................................................11
Executive summary..............................................................................................................11
Introduction..........................................................................................................................11
Identified events...................................................................................................................12
Review of relevant concepts or theories...............................................................................12
Review of industrial practices..............................................................................................13
Application of theory as well as practice.............................................................................13
Discussion.............................................................................................................................14
Recommendations for practice and research........................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Business simulation is seen as the action that is required to be taken by the individual in
order to develop their own business according to the actual market conditions so that they can
take rightful decisions which would not only help them in executing the work also contributes in
maximising the profitability. Also, simulation helps an individual in analysing future market
conditions and provides the opportunity to prepare them accordingly so that appropriate
decisions can be taken towards the same (Borko and et. al., 2015). These activities also support
businesses in determining the prospected outcome of their action and its associated consequences
which have been faced by them in the near future. However, professional development is
acknowledged as the practice that is linked up with the grooming of the capabilities, knowledge
and skills of person or individual due to their workplace related experiences. These
developments can be effectively done by indulging into range of activities and tasks.
This report is based on the simulated company named as I-Tech which basically deals in
the manufacturing and distribution of smart phones in several nations. This present project is
bifurcated into two sections. The first section is strategy paper that includes information
associated with the vision, strategy, porter’s five analyses, market analysis, performance results.
Based on this future plans and recommendation for the next 5 years to company has been
developed in appropriate manner. Whereas, the second section of this project is about reflective
writing in which detailed professional development report would be developed that simply
reviews all theories and concept adopted in order to determine what was good for the company
or which practices could have brought success to the businesses in appropriate manner.
PART A- STRATEGY PAPER
Vision and Strategy of I-Tech
Vision and Mission:
The vision statement of I Tech mainly emphasizes on providing highly innovated
products (cell phone) to the customers which completely transforms the human experiences and
also provides shape to the technology in the future (DiPaola and Wagner, 2018). The respective
company also aim to remain committed towards their customers as well as employees worldwide
in order to provide them better experience with the company.
Values:
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On the basis of the information stated in the simulation testing, it can be said that the
company values its customers a lot and also emphasizes on developing its relations with them by
simply providing technological advanced products and services to them. Also, extensive level of
R & D department also adds value to I Tech as facilitates creativity and supports them in
accomplishing their organisational objectives in rapid manner (Burger and Luke, 2017).
Technological advanced products at marketplace would definitely help the company in
developing strong brand image among customers.
HR:
Human Resources are considered as the essential part of every organisation which helps
them out the company in accomplishing their respective goals and objectives in the quicker
manner. Staff of I tech plays essential role in its growth as if the company has well motivate,
skilled, hardworking employees then they will be definitely able to enhanced their productivity
level which would lead to accomplishment of their goals in the quicker manner. Here, the
respective HR manager of the company would definitely make use of rewards for employees in
order to motivate them till extensive level so that they could work harder for the success of the
company (Aithal, 2017). It can be later said that the human resource manager of I tech also
emphasizes on conducting training and development session for the employees in order to
provide them environment as well as opportunity to learn which ultimately motivates them to
develop their understanding towards new technology. This simply contributes in improvising
their performance throughout the years.
Culture:
Organisational culture refers to the internal environment of the company which involves
assumptions, values, and beliefs which ultimately influences behaviour of organisation. It can be
said that organisational culture simply places higher influences over the growth of the company
as it influences employees’ behaviour. With reference to the culture of I Tech, it can be said that
the HR manager of the entity emphasises on promoting creativity, diversity, equality and
innovation at workplace and motivates them to work within the company in appropriate form
(Bell and Mladenovic, 2015). Here, the HR manager of I Tech also emphasizes on involving
employees in the decision making process so that they can simply include their views and
perception towards the same and take advantage of diversity which leads to the attainment of
success in the quicker manner. However, the HR department also believes in giving priority to
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the flexibility in the near future which ultimately provides liberty to the employees to perform
their work according to their own capability. This directly leads to attainment of success at the
marketplace.
Review of Each Year’s Progress
Businesses are required to review their performance at every level so that they can easily
have insight of organisational performance which ultimately supports them out in accomplishing
organisational future goals and objectives (Han, Hao and Huang, 2018). This sort of review also
provides clear understanding to the business manager about the organisational actual positioning
which ultimately leads to accomplishment of organisational goals and objectives. With reference
to the I Tech, it can be said that performance review of this company’s performance in order to
predict its next 5 years decision has been specified as below with the usage of Porter’s five force
analysis.
Porter’s Five Forces Analysis:
This is determined as the essential framework which is used by businesses for evaluating
their industry and finding out its own positioning in the industry. Porter’s five force model is also
useful in finding attractiveness of the industry for the particular company (Grant, 2016). With
reference to I Tech, it can be said that performance of this company can be easily reviewed with
the usage of Porter’s five force frameworks. All of the five forces of this framework has been
specified as below:
 Customer’s Bargaining Power: Bargaining power of the buyer is extremely high for this
company in the initial days as there are large of number of company within the same
marketplace which are offering similar kind of products and services to the customers.
With the passing period of time, I Tech can make use of highly advanced technology in
order to bring innovation in their offerings so that they can easily develop their own
demand among customers and can also gain competitive advantage with the same
(Summers, 2014). Advanced feature mobile phone would definitely attract the customers
and influence them to stay loyal with the company so that they can gain competitive edge
with the same.
 Supplier’s Bargaining Power: There are limited numbers of suppliers within the
Smartphone industry. But with the passing period of time it is depicted that number of
suppliers in the Smartphone industry would increase as the industry has vast scope and
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could also provide huge profits the individuals who are involved into it (Winston, 2016).
This clearly depicts bargaining power of supplier is relatively low as if the company does
not satisfies with the one supplier then they can easily move to the another one in order to
fulfil their requirement of the raw material and attain success towards the same in rightful
manner.
 Threat of Substitutes: Influence of this force is determined as high in the past as well as
in the coming years too. It has been seen that Smartphone industry is producing new
products and services since so many years in order to attract customers toward them and
the develop strong base for their future sales. These changes were not limited to the past
but they are still continuing in the present and will continue in the upcoming years too.
This simply shows that the threat of substitutes for I Tech is relatively high for this
company as there are huge numbers of competitors available within the sector (Zheng,
Bender and Nadershahi, 2017). Here, it is highly important for the sector to make use
skilled and knowledgeable workforce who could collaboratively provide support in
developing new technological advanced products that is Smartphone’s for the company
and could gain competitive edge towards the same.
 Threat of New Entrants: It is quite harder for the new entrants to enter into this sector
and develop their place into the marketplace as there are already many well established
companies who are leading the market. This clearly depicts that threat of new entrant is
relatively low for I Tech at the starting level as they are making use of the advanced
technology but with the passing period of time when the other associated companies have
gained the same technology that it would definitely raise competition for I Tech. In order
to deal with this the respective company is required to emphasize on making use of
differentiation strategy so that they can easily offer completely unique product that is
Smartphone’s to its customers and influence them to remain loyal with the same
company in the near future (Rosca, Arnold and Bendul, 2017).
 Competitive Rivalry: Competitiveness with the Smartphone industry is seen as highly
dense because there are lots of companies who are offering similar kind of products and
services to the customers at almost same prices. As per the current performance of the
company it has been analysed that the company is required to bring lots of evolution with
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the passing period of time so that they can remain competitive within the industry and
gain competitiveness.
Market share:
It is quite crucial for all companies to gain significant market share or position in industry
in attempt to conduct all operating activities in efficient and effective way. A representation
of consumer's preferences for a product/item over other similar or comparable products
is recognized as market share. Higher market-share normally implies greater sales, lower
marketing effort, including a stronger obstacle for competitors' entry (Jang and Lee, 2016). In
this regard organisation I-Tech that is new distributor in smartphone market engaged in
supplying mobile-phones in various countries like china, UK, Japan, India, etc. The
country Netherlands is respective entity's home country so here company has captured a greater
area in marketplace. In Netherlands the overall segment demands for the business for 2020
year was around 384000 and the revenues for same year are about 332126. This indicates that the
company is not in effective position to satisfy the demands and should therefore improve its
output generation capacity or overall production. The demand reached to 276480 in year 2021 as
well as sales reached to 227056, the aggregate demand is 276480 in period 2022 and sales
declined to 150881 for same time-period. Demand in 2023 is quite higher but the firm 's sales
are lower point as the demand for such year stated is 304128, whereas sales is only 83976 in said
period, demand for year 2024 is around 304128 and revenue is 83976, the demand remain at
same level in 2025, but sales in this year is 52688. The demand was likewise comparative
throughout year-2026 and year-2027, but the organization shipped no
smartphone. Company’s Production level in year 2028 is 319334 and revenues reached as level
of approximately 45130 per customer demand. During 2029 the smartphone demand remain at
same level as of in 2028, but here notable aspect is that in Netherlands segment revenues have
been decreased by around 35054. Increased level of supply as well as expansion of business in
various nations indicated that a substantial market zone is saturated by the organisation I-Tech,
but corporation is still not able to manage it appropriately, that's why this does not match market
and customer demand.
Product / price analysis
In marketing aspect, price evaluation focuses on the review of consumer reaction to
abstract prices in strategy analysis. In general, price evaluation process is the planning and
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management process of the proposed or existing product without evaluating its various
associated costs and the demanded benefits. Those are the two key aspects that must be taken
into account by all companies which strive to satisfy customer requirements (Marciniak and
Jarzębowicz, 2017). As per organisation I-Tech 's projections, here Netherlands market
demands in year 2020 would be about 240000 depending on its quality of products,
and aggregate revenues for such period is about 118464. On other side, their price demand
specification reached to 180000 however its turnover was Zero for same timeframe. The quality-
oriented demand requirement and sales in year-2021 is 172800 and 117506 respectively, but
price-oriented segment demand is 1377000 but revenue is 120000. Sales relied on demanding
pricing. The requirement for quality / cost had been very high throughout year-2020 and 2029,
however this demand criteria not met by the company. based on factors quality of the
products sales is zero during 2023-2024 but price-oriented segment demand and sales in
respective period are 2023: 1514700 demand and 365923 sales; and 2024: 1514700 demand and
237305 sales. No product will be expected to be sold throughout the 2025, 2026 and 2027
however during demand were sold around 46268 (2025), 64451 (2026) and 58616 (2027). Which
suggests that the company has begun to meet the demands of a comparatively tiny section of the
market, depending on value/cost of cell phones. Based on demand and product quality the
organization won't sell in year 2028. Outcomes from year-2029 stock sales were null, though
sales of 5791 price, which is very low compared to true market demands.
Competitors
It is essential for every business organization in order to acquire knowledge about the
competition of the sector so that they can effectively develop as well as implement effective and
appropriate strategies according to the changing environment. In this context, it is examined that
in respect of I- Tech organisations there are high level of competition which directly affects the
sustainability of an organization. Such organisations are known to be DH gate, Bang good many
more (Marr, 2016). Effective strategies required to be formulated by the higher authorities of the
Smartphone organization to grab competitive advantages on the rival companies within the
similar industry. This as a result will help the corporation in order to create its effective and
positive brand image of the company & adapt themselves according to the need of market.
Competencies & capabilities
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When organisations perform all their functions at the marketplace it is quite essential for
them to develop effective capabilities and competencies so that they can enhance their overall
sales and growth. With the help of this, an organisation is capable to ensure that they will be able
to easily cope up with the emerge complexity arise at the workplace in near future. As per the
details of I- Tech, it is examined that the business entity has some specific capabilities and
competencies. Some of the most essential elements are going to be discussed as follows in detail
manner:
High share of market: At the current level, it has been identified that I- Tech is
performing its functioning at different level in ample number of countries. This is considered as
one of the most essential competencies of the organization which helps them in reaching large
number of people in an effective manner (Perotti, 2014). With the help of serving huge number
of people around the world, Smartphone firm can easily improve their profitability and sales at
the long run in competitive market. Therefore, high share at the marketplace enhance the overall
performance of the company in an appropriate manner at competitive marketplace.
High product demand: According to a data, it is said that the organisation offers I- Tech
all the countries among which the organization tends to perform. This is another most essential
competency of the company. It has also been observed that company is not able to satisfy the
needs and wants of consumer at the marketplace. In order to effectively leverage their
competency, it is very important for the organisation in order to create and implement effective
strategies with the help of which they can easily accomplish their goals by fulfilling all the needs
of customers. This strategy assists the organisation in order to raise their profitability at the
marketplace as well as enhance their market share in an effective manner (Iyamu, Nehemia-
Maletzky and Shaanika, 2016). Therefore it has been concluded that for every business
organization it is necessary to provide high quality products and services according to the
requirements and demands of consumers so their needs will be fulfilled which leads to the
attainment of organizational goals and objectives in an effective way.
Analysis of financial data
Income statement: The income statement or profit or loss account is one main
account used by accounting personnel and company owners. Whether
an enterprise makes profits is clearly stated in this statement. A corporation's cumulative sales
and expenditures are included in profit. this statement is vital as it specifies an organization's
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different revenues/incomes and expenditures. Income and costs are referenced by section
of business through which they usually come. As well described are non-business-related
earnings and investments income and expenses. It gives managing official a glance about how
each unit performs, so if a department/unit is underperforming, it could become focus of
improvement (Marr, 2016. ). The organization reported € -4315339 of gross loss during 2020, as
well as its net profits are around € -4495339. GP increased to € 9.056.998,11, while net
profits figures also increased to € -43.794.112,2 in year-2021. Here gross margin as well as net
profits declined respectively in year-2022 to € 8.536.141,78 and € -43.607.666,50. The revenues
reached to € 619.203.582,00, € 547.098.515,00, € 266.683.919,00 and € 201.846.809,00
indicating decreasing trend and net loss in year-2023, year-2024, year-2025 and year-2026
reached to about € -387.435.874,22, € -391.230.455,66, € -490.621.907,90 and € -
574.155.886,18 respectively. operating profit dropped to €64,414 m in 2027, and then in same-
year deficit decreased relative to previous year to € -390.245.625,7. The annual gross profit for
2028 amounted to around € 32.351.380,58, also here a net loss of around € -785.255.916,56
million per year. Company’s operating profit for 2029 was close to € -414.226.659,10,
though loss for this year is around € -928.885.757,33. Overall analysis shows that company’s
revenues is declining over the entire discussed periods and net losses of company after 2020 is
increasing continuously.
Balance sheet: A balance sheet, often regarded as the "financial position statement,"
discloses assets, liabilities and overall equity (total worth) of corporation. The aim of balance
sheet is to offer relevant individuals an understanding of financial status of company, besides
showing what holds and owing the corporation. It is crucial that all stakeholders understand
how balance sheet can be used, analysed and interpreted (Simpson, and et. al., 2014). The
entire balance sheet is split into two categories which, depending on following equation, have to
equate or balanced one another out. The key equation of balance sheet is: aggregate Assets
should be equal to aggregate plus Shareholders' Equities. From year 2019 's balance sheet this
has been determined that overall cash in this year was around €519487 while aggregate liabilities
of approximately €521187. In the same year company reported fixed assets of €1700000.
During 2020 company's cash improved to €513591660 while assets are of 2100000. It shows
that company’s working capital position has been increased during the year. The reports for 2021
also show that this year firm 's efficiency has been decreased since this year's overall cash for the
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company has been declined since the cash level has been reached to 45951711. During this year
company’s total assets and liabilities are around € 432909556. Loan and other long-term
liabilities ain this year are 12619675. Overall analysis shows that corporation’s overall assets and
liabiltiies level has been continuously declined form year 2019 to 2029, as there is continuous
declining trend in assets as well as liabilities level. Over the entire period equity of company has
not been changed however there is increase and decrease in liabilities and reserves (Summers,
2014).
Cash flow statement: A Cash Flow Statement explains how a firm has invested its
cash funds. It is also used in combination with two other main reports: Profit and Loss as well
as Balance Sheet. this is third aspect of financial statements of organization (Winston, 2016). It is
typically employed by corporations to track in as well as out flows of entire cash funds to get
actual net cash. Here respective company’s cash flow estimates for year 2020 and 2021 revealed
that overall cash income calculated for years 195642 and 198607. While cash expenditure for
both periods are about 135209, and 151005. In 2022 about 504217 salaries and 449948 expenses
are for same. Around 2023 and 2029 company's cash flows declined as losses steadily increased.
The investment continues to expand after period 2023, and incomes are rising contributing in the
net cash outflow for the firm. From above measuring results, the growth of I-Tech is examined as
a continuing decline after 2023 owing to a reduction in overall cash income. It reveals
that business cannot meet its goals and suggests that the market performance has negatively
impacted decisions made by organisation. All financial statements, namely P&L, balance sheets
and cash flow, show the company is unable to generate sufficient profit. The primary reason for
all this is market research that suggests that perhaps smart phones sold by company are in quite
high demand but they're not capable to sell products and satisfy demand accordingly.
Performance analysis
It is necessary for every organisation to analyse as well as examine the performance on a
regular basis so that they can easily identify any kind of discrepancies arise among the
operational patterns. For this, an in depth study needs to be carried out by every business entity
so that they can evaluate different strategies as well as analyse their key decisions. In this
context, it is said that some of the key decisions includes accounting, human resources, logistics,
product development and soon.
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According to the market information present for I- Tech, it has been analysed that market
demand for Smartphone’s are created as well as sold by the business entity in an extensive
manner (Farrell, 2015). Furthermore, it shows that the business entity is not capable to formulate
the business plan in an effective manner which assists in conducting promotion for the business
organisations at the marketplace. By changing the time period, performance of the Smartphone
organization has been reducing down implying decrement in their profits.
There are different competitive firms available at the marketplace which competes with I-
Tech. The strategies opted by competitive firms is quite differ from the organisation. In this
context, it has been identified that the overall quality of the phones manufactured by I- Tech is
unmatchable. This as a result assists organisations in order to earn high level of profitability at
the year 2022. Apart from this, it has also been analysed that from the beginning of year 2023, I-
Tech will face ample number of difficulties in the accomplishments of higher profitability.
Ample number of modifications will be developed by I- Tech at the time period of 2019. This as
a result says that company will be facing challenges which can be related with reduced
manufacturing units, non fulfilment of requirements of users and many more. These will have an
essential impact on the overall performance of the company which can reduce the profit at
competitive marketplace.
The higher authorities of I- Tech emphasize on number of facts while making decisions
and there are some factors which are finance, logistic, marketing, accounting, human resources,
products development &soon. It has been said that as of now there are no information is
currently present in relation to marketing domain, it can be concluded that the organisation did
not implement any kind of marketing strategies (Ceschi, Dorofeeva and Sartori, 2014).
According to the staff results, it has easily been analysed that all the human resource decisions of
the company are quite effective. Apart from this, it is said that the Smartphone firm can easily
fulfil the needs and requirements of the organization in both host as well as home countries.
Along with this, logistics decisions of the organization are not so effective. Furthermore, it has
also been seen that there are no decision taken by business entity in context of product
development as there are no modifications have come in their model over 10 years duration.
Future plans and recommendations
Based on review of corporation I-Tech 's financial results, this can be seen that over course
of time company has performed not well at marketplace. Thus, it becomes crucial for this
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organisation to stipulate sound strategies with the help of which it can achieve success in market
place. It is suggested here that I-Tech conduct effective market research to explore and exploit
opportunities that really can help the enterprise in catching attention of potential customers as
well as meeting their requirements in a reasonable timeframe. It is advised to I-Tech to hire
knowledgeable and skilled people with strong analytical skills in order to identify opportunities
for the business for development, in order to effectively conduct market research (Zheng, Bender
and Nadershahi, 2017).
PART B - Professional Development Reflection Report
Executive summary
This section of the project is the reflective account of the individual who had worked in the
group working for the simulate company named as I – Tech. The manufacturing of this
Smartphone company is done in Asia under their licence as they are getting cheap labours who
executes the work of designing and manufacturing in the quicker manner with the lower rates.
All the developed Smartphone are further sold across the world in the name of I Tech. This
reflective section of project provides brief discussion over professional development as well as
learning which a MBA student develops with the collaborative working practices.
Introduction
Professional development is determined as the effective way of learning which influences
individuals develop themselves in terms of academic degree, participation in conferences,
learning opportunities so that they can maximise revenue generation. At the time of learning in
the management courses I had learned numerous of skills as I have experienced different things
from it. I have learned team working skills which have supported a lot to me in performing
working with the effective collaboration. From my own learning experience associated with the
simulated company it can be said that I got a rough estimated idea about the companies that
actually things would be managed in the near future.
Identified events
At the time working in the team of simulated company, it has been determined that leader
of this company has developed range events so that appropriate illustration could be provided to
the individuals which further helps them out in the attainment of growth and success. Few of the
main events among them are stated as below:
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Leadership conferences: In this, head of several successful companies are invited by the I
Tech so that they can share their views, thoughts and experience with the team of simulated
company so that they can acquire these practices and information with them and maximise their
performance and attain profitability in the quicker manner. Also, guidance and support provided
by these team leaders would definitely boost up motivation level and confidence among
employees that would surely enhance productivity of the company in rapid manner.
Communication workshop: In this type of event, views and opinions of the expertise
belonging to the simulated environment have been expressed to the employees. This kind of
detailed interaction with the expertise would definitely support me and my team member in
developing our understanding related to the simulation and its usage in the business world.
Review of relevant concepts or theories
There are range of theories and concepts which are presented by the expertise that clearly
depicts set of principles as well as accepted belief which shows analysis on the subject matter.
Some of the main theories that have been learnt by me while working in team in simulated
company named as I Tech are specified as below:
Theory of reasoned action: This theory is mainly shows interrelationship between
intentions, behaviour, attitudes, beliefs and behaviour of several individuals. This also specifies
relationship among A - B in which A describes attitude of the individual whereas B depicts
behaviour of the person (Cotterand Fritzsche, 2014). As per the information expressed in this
theory, it has been seen that individual behaviour is mainly linked with the intentions that further
supports in the execution of the work in rightful manner. Whereas, intention is considered as the
way of attitude, skills, norms etc.
Situational leadership theory: Situational leadership style clearly specifies that none of
the leadership style fits to all kind of situation (Aoyama, 2016). This simply specifies that the
leadership style must be adopted by the individuals according to the situation at marketplace. It
also focuses on its decision making is taken by the leadership at workplace.
Review of industrial practices
The Smartphone industry is acknowledged to be a rapidly evolving sector owing to the
presence of a number of top notch companies within it. I- Tech is an organisation which holds
high market share but has not been successful in meeting the demands placed by the market.
Thus, the immediate result of this is the inability of the firm to overpower the sales of rival firms
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(Albort-Morant and Ribeiro-Soriano, 2016). In this relation, it has been identified that the direct
competitors for I- Tech are DHgate, Banggood and many more such firms. The main reason why
these companies possess an upper hand over the concerned organisation in terms of revenues is
their strong marketing and promotional strategy which has provided assistance to them in
gaining the attention of public at large. Also, the employment of emergent and latest
technologies by these companies has provided an edge to them in retaining the customers for a
considerably longer period of time.
Application of theory as well as practice
Application of every theory is highly important for every company which helps them out
in successful accomplishment of organisational goals and objectives in rapid manner. In this
learning I have made use of two main theories such as Theory of reasoned action and Situational
leadership theory. Application of these theories has been specified as below in detailed manner:
Theory of reasoned action:
The application of this theory provides assistance to I- Tech in gaining comprehensibility
of the relation lying amidst the behaviour and attitudes of personnel working collaboratively in
group. I exercised this theory in order to attain knowledge of the ideologies and views held by
the members of my group. This theory made me realise that individuals with diverse set of
behaviours and attitudes function within a team and these need to be effectively recognised and
addressed so as to avoid the emergence of any issue at any point of time.
Situational leadership theory: This theory was applied by me as I was the leader of the
group of the simulated business named I- Tech. A number of different situations arose while
working in a group with my fellow mates. This allowed me to alter my leadership style as per the
current situational context (Aithal, 2016). Thus, this theory enabled me to select the best style of
leadership in accordance with the situation of the group as well as the members.
The application of industrial practices in I- Tech Company is as follows:-
As I was a participant of I- Tech, I applied the practices used by competitors in context of
my company. Besides that, I carried out market researching to know about customer demands.
This helped I- Tech in gaining access to a number of new countries in a small period of time to
achieve high market share across the globe.
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Discussion
It has been recognised that I- Tech is a venture which is engaged in the production and
distribution of Smartphone in different parts of the world. This entity has been acknowledged to
have gained a significant market share in last some time period. I- Tech is engaged in provision
of variants of Smartphone and thus carry out production in large volumes. However, it is
analysed that it has been incapable in meeting the demands of customers. In this regard, it is
determined that the demand for the products of this company during the year 2020 is 384000
while the sale in the same year being 332126. Moving to the next year, it can be said that the
demand for its offerings would reach 276480 however the sales would only be 227056. The sale
figures of this organisation has been constantly stooping low and this over the course of time has
been and would be hampering the profit margin. In relation to the prices of product, it is seen that
the prices are decided according to quality of resources and material utilised for production. In
accordance with the product price, the overall demand for its Smartphone being 240000 during
2020 and the sale figures being just 118464. Thus, the organisation suffered sales decline owing
to ineffective pricing strategy and any other possible factor.
Recommendations for practice and research
From the above specified evaluation, it has been analysed that I Tech is required to bring
few modification in their research and practice so that improvise their performance in the near
future. Some of the main recommendations are specified as below:
 At first it is recommended to the I Tech to make use of latest technology so taht they
could maximise production capability. This would definitely contribute in maximising
satisfaction level of the customers as Smartphone are supplied to the on the timely
manner. Here, I too recommend to I Tech to improvise automation production for
maximising customers’ satisfaction in appropriate manner by delivering them products in
timely.
 At next, I would suggest I Tech to conduct market research at constant basis in order to
determine the available opportunities within the Smartphone industry so that I Tech can
take its advantage and maximise the revenue in quicker manner.
 Lastly, marketing manager of the I Tech is advised to make use of advance form of
marketing method through which they can easily accomplish their marketing objective
that is influencing customers towards them so that they can easily gain profitability and
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with the quick increase in the sales performance of the company. This would definitely
inflate reach of company towards its customers which would ultimately maximises their
growth within same industry.
CONCLUSION
On the basis of the above specified information, it has been analysed that the preliminary
motive of every organisation is to gain success and accomplish their predefined goals and
objectives. For this, these businesses are required to development their core understanding on
their business environment so that required actions can be taken by them in timely manner. It has
been later identified that it is highly important for the business manager to develop appropriate
vision, values, culture and human resources management so that business could easily attain
success in the near future without any sort of barrier. Also, evaluation of the business also
includes detailed analysis over financial performance of the company which simply includes
accounts such as balance sheet, income and cash flow statements. This analysis aware the
company about its financial stability at the marketplace. Along with this performance of the
company can also be reviewed with the detailed analysis of customers’ needs and preferences,
competencies, market, capabilities, quality of product and services, prices and other associated
factors. In addition to this, it has been later analysed that by indulging into appropriate
simulation activities businesses can easily develop appropriate future plan and provide
recommendation to the company that ultimately helps them out in attaining success in the
quicker manner. Also, it has been later determined that usage of rightful theories help managers
in aligning the organisational work and accomplish their proposed aims and objectives in rapid
manner.
15

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