Strategic Analysis: Fundamental Business Report on Simventure Game

This report presents a fundamental business analysis based on the Simventure game, evaluating key aspects such as marketing, finance, human resources, operations, and technology. The marketing section emphasizes the importance of target market identification, effective product design, and competitive analysis, highlighting the need for strategies based on competitor strengths. The finance section underscores the significance of financial management, gross profit, and balanced scorecard principles for business success. The human resources section discusses staffing, development, compensation, and safety, emphasizing the role of HRM in understanding and managing human behavior within the organization. The operations section focuses on logistics, supply chain management, and consumer satisfaction, highlighting the need for efficient operations to enhance profitability and customer experience. Finally, the technology section discusses the impact of technologies like cloud computing and 5G on business operations, emphasizing the importance of privacy and effective communication. The report concludes by reflecting on the lessons learned from the Simventure game and their applicability to real-world business scenarios. Desklib provides students access to similar solved assignments and resources.

Fundamental of Business
Report

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Marketing....................................................................................................................................3
Finance........................................................................................................................................5
Human Resource.........................................................................................................................7
Operations...................................................................................................................................9
Technology................................................................................................................................11
CONCLUSION..............................................................................................................................11
REFLECTIVE STATEMENT.......................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
For the business it is very essential to have proper Research and continuous analysis of
the business. This is necessary because in case operation and the performance will not be
evaluated then it will affect working efficiency of the business. In the present case the business
has undertaken a game in order to evaluate the performance of the business. Thus the present
report will outline the results of the game and how it can be used to take the business decisions
will be outlined.
Marketing
For the success of the business it is very necessary that marketing of the business is very
effective. This is pertaining to the fact that in case marketing will not be effective then it will
affect the working efficiency of the company. In the present case of the company with help of the
marketing it was evaluated that the target segment is very essential for the company to undertake.
This is necessary because the target market provide the direction to the company that how they
have to make their Strategies for promotion. Along with this it is also very essential for the
company to effectively design that product as it will outline the point of selling to the consumer.
In case the product will not be good and effective then the performance will not be effective. As
the consumer will not be liking the product and they will not be using it frequently which might
result in loss for the company. Thus, for getting successful it is very crucial for the business that
they effectively decide for their target consumer so that the working can be managed in proper
and effective manner.

Moreover, in addition to this the pay of the product also needs to be good and effective.
This is necessary because in case the pay will be too hard then consumer will not be in position
to afford that. Hence it is very crucial for company that the pay is nominal so that every person
can afford it. Moreover, the marketing is very essential for the company in order to work better
than the competitor as well. With help of the market in the company can also evaluate its
competitive position and in case the position is not good then effective measures can be taken for
getting successful. With the valuation of the competition report it was evaluated that there are 6
competitors within the market. Hence the comparison was done on four different bases that is
quality performance features and style. The use of competitor analysis is also very necessary as it
will assist the company in finding the strategies and areas where the competitors are good. Thus,
this will be a guiding agent to the company and they can modify their strategies in direction of
the competitors. thus, the result of competitor analysis was very helpful in deciding the strategies
after the Simventure game results.

Finance
For the business to get successful it is very crucial that proper finance is being available
to the company. In case the finances not present within the company then they will not be in
position to survive in better manner. This is very necessary because each and every activity of
the business is directed by the finance only. Hence it is very necessary that the performance of
the business is always and so that they are able to manage their expenses and try to on more
income. Without finance the company cannot run its operation successfully and they have to shut
the business. With an analysis of the results it is evident that company is earning gross profit.
This is good for the company as they are earning profit which can be used in managing the
business and its operations effectively.

Along with this, it is also very crucial for the business to have good financial decision so
that business operation can improve. This is necessary because in case finance will not be
managed then this will be affecting the overall performance of company. Even with help of the
model of balanced scorecard as well, it is seen that financial is also a main element of working.
This is pertaining to the fact that in case the financial aspect of the company will not be governed
properly then this will be affecting the working efficiency of the company. in case the company
will not be following the balanced scorecard element then this will affect the working efficiency
of the company. out of all it is very crucial for the company that the finance which involve
managing the funds and cost in effective manner must be given utmost priority.
This is pertaining to the fact that in case the working of finance department will not be
good then this will be impacting the working to a great extent. moreover, when the business
finance will be managed in proper manner then this will result in effective management of
business performance. when the financial resources are optimally used then this will be
providing the better outcome to the company. thus, in order to get successful, it is very crucial
for the business that the management of finance is being done in optimal manner.

Human Resource
Human resource management is the management of the people in the organization. It is
their role to recruit and fire. They are also considered to be the department which are responsible
behind the development of the organizational culture. They are the department which tries to
create strong relations with the different departments. HRM works in the context of the external
environment. There are different factors which influences the HRM which is subsystem of the
organization. Human behaviour is a very big factor which is defined as the response which is
observed directly or indirectly (Trullen, Bos‐Nehles and Valverde, 2020). It is considered as the
decision-making process of the individual which impacts the process and attitude of the results of
the ways in which the people describe them. This behaviour includes the full range of physical
and emotional behaviours which depends on their engagement with the organization.
It is said that the behaviours of the individual in the organization needs to be understood
by the HRM such that they can understand the differences there are in the personality's, attitude,
values, perceptions, motives, aspirations and abilities. These difference can easily effect the
organization and its practices. Understanding the human behaviour helps the HRM to complete
its functions. Some of the functions of human resource in the organization are,
Staffing :
This includes the activities of hiring new employees and terminating old employee
contracts. It requires the HRM to identify talents which are needed in the organization. This is
also useful for the utilization of different recruitment technologies which acquire a high volume
of applications. They understand when it is essential for the contracts of the employees to get
terminated.
Development :
The On boarding of the new employees is very important task of the Human resource
which is the key investment of the organization. This part includes the training and development
and the introduction of the employee to its new roles. It helps in providing training opportunities
which helps in keeping the employee up to date for respective fields. This is said to be the
important aspect to the management prospects which provides feedback to the employees and the
managers.
Compensation :

Salary and remuneration of the employees which they deserve is considered to duty of the
employees which provide appropriate compensation to the role based performance. They are also
the one which negotiation with the groups such as the insurance rates, retirement plans and other
benefits with the third party providers (Zeebaree, Shukur and Hussan, 2019). Discussing the
raises which are helpful for the compensation towards increasing and decreasing the employees.
Safety and Health :
It is the responsibility of the HR to ensure that the work place is a safe place for the
employees to work. This includes ensuring the compliance of the legal requirements based on the
jobs. Human resource are also considered to be responsible for the different types of safety
measures which are taken for the given industry. It helps them to discuss safety and compliance
which is relevant to the governmental departments.

Operations
There are different types of factors, forces and elements are accessible in the world of
business that has been used by varied firms, whether they are small or large to grow rapidly and
enhance their operational effectiveness (The Importance of Operations Management, 2020). It
can be said that operations' management is one of those internal factors that may contribute to
enhance performance and productivity level of companies from national to international level
that is quite essential and beneficial. Operation department in the organizations is accountable to
provide the best network and strategic solutions like managing logistics such as inbound and
outbound. Logistics and effective operation department may contributes to increase the
profitability and productivity of company in term of managing each business operation and
function appropriately that is important for both sections and their team members to do that.
Along with above contributions, they may aid to enhance consumer satisfaction level in term of
making companies able to deliver or provide satisfactory services and products to customers
according to their demand, expectations and requirements. It is fact that consumer review or

feedback regarding a firm and their goods make or break ventures. In that case, it is necessary for
all the department especially operations management to develop the best plans that reduce the
reason behind obtaining bad reviews and comments from each consumer.
Logistic management like operational section may also support firm to take pleasure of
running venture into specific sector. This term also includes varied procedures which make
assure that seamless movement of products, raw materials, parcels, packages and finished
inventory from point of origin to end consumers, continue. Supply chain, distribution, product,
consumer service, and returns management, are included in category of logistics management
procedures that provide varied benefits to companies (Logistics Management: What It Is, Types,
Tips, Components & Logistics Management Benefits, 2021). For example, it may aid to improve
or enhance consumers experience, optimize operational costs, boost profit margin, better
intermodal operations and allow offering or delivering greater productivity as well as efficiency
that is not possible for all the companies to gain so.

Technology
Technology advancement and implementation in a company play significant role in
success and progress of ventures, whether it is public, private or any other. For example,
information technologies such as cloud computing may put positive impact on venture in term
of increasing candidates performance and productivity as well as efficiency to share essential
informations, report and documents to those departments that may use and need that for purpose
of gaining competitive advantages and increasing profits. While it may affect negatively when
privacy concern is not taken in the companies into their major consideration that is important to
do that in order to gain and build trustworthy relation with key stakeholders. This form of
technology may help organizations and their consumers to store important data in virtual space
more than traditional soft and hardware drivers that encompasses risk of data breach and loss.
5G technology is the best example of communication technology that may affect
ventures in positive manner in term of making management able to interact with all the
stakeholders whether they are target consumers, investors, managers and more in effective and
excellent manner (Zhou and Li, 2020). It may enable them to conduct a video conference
through which communication become easier and transparent. It can be said that the emerging
5G network or technology may cover key features such as lower latency, increase bandwidth and
higher capacity. These network improvements or enhancements may have far reached impacts on
how companies or ventures interact with each other all over the world. It may give them chance
to carry out appropriate forms of analysis of businesses data.
Big data analytics is also included in category or element of technology that may
enhance productivity and performances of companies in term of providing better data solutions
to user that they use and conduct each practice accordingly (Moturi, Okemwa and Orwa, 2022).
It may support a firm to grow in term of managing risk factors and product development process.
With the help of this technology, management may take pleasure of taking better and fast
decision that lead to gain competitive edge and more benefits in bulk.
CONCLUSION
The above report evaluated that Simventure was a game which assisted the business in
increasing the performance of the business. the reason underlying this fact is that when the
business plays the game of Simventure then they can predict the working of future. Hence, as a
result of this, the working of the company and its strategic decision can be impacted. The above

report evaluated the different departments of the company are being affected to a great extent.
these departments included finance, HR, operation, technology and marketing. For the success it
is necessary that all the different department work in better and effective manner so that ultimate
goal of profitability can be attained.
REFLECTIVE STATEMENT
By referring to Gibbs reflective model, I want to reflect and share my personal feeling as
well as overall experience that I had gained while taking initiatives to run a company using
Simventure as a team member. I had gained great experience during the procedure of running
organization that use above specific tool in effective manner.
Before taking any initiative I was quite existed and nervous too, which put impact on my
work. But when I begin to work in company I feel that it is not that much stressful for anyone to
achieve set aim and goals with consideration of strategic methods and models.
I want to share some good and bad experiences that I had experienced during the similar
procedure. As I had faced issues because I am not posing good knowledge about team work that
bring more challenges for me. In certain situations, I had worked better because I know how to
communicate with others as I had good communication skill.
I had experienced the worst time when I am working in a team as member. I face issues
to interact with them and identify the needs of company which I have to consider for purpose of
achieving set aims and objectives on time without making any mistake.
From above analysis, it has been concluded that I need to develop my team work skill
even better than other individuals who are taking interest to work with organization for longer
time.
With the help of action plan I would take approach to improve and eliminate my
weakness that put negative impact on my work. In order to develop team work competence, I
will take action to obtain suggestions from experience holder. It will take approximately 1 month
and use internet to gain more ideas.