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(PDF) Business Management Simulations

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Added on  2021-06-05

(PDF) Business Management Simulations

   Added on 2021-06-05

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Running Head: REPORT The Business Simulation [Name of Writer][Name of Institution]
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Report 2Table of Contents 1Introduction..............................................................................................................12Critical Evaluation of the Company Performance...................................................22.1Key Performance Measures over the Four Rounds..........................................22.2Evaluation of the Company’s Performance......................................................32.2.1Goal Setting Theory...................................................................................42.2.2Expectancy Model......................................................................................52.2.3The Control Theory of Performance Management....................................53Critical Evaluation Of and Reflection on Decision Making....................................64Conclusion...............................................................................................................7
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Report 3The Business Simulation1IntroductionIn an assimilated business simulation, executive is considered as an integral part of this simulation that models the manufacturing industry of European motors (Sweet, Madeoand Dubin 2017). This business simulation helps in the company executive to strategically plan and work on the company’s performance. The new venture of “IMOTO motor work” in the European manufacturing industry was launched and aim towards achieving long term profitability in the manufacturing industry and gain competitive advantage. The business simulation game will help in the analysis of the business choices and aids in making effectivedecisions for enhancing the new venture’ performance in the European manufacturing industry (Katzet al., 2016). The aim of “IMOTO motor work” is to bring innovation, efficiency and originality that results in high quality cars and other automobiles and contribute towards environmental sustainability (Watson, 2018). The company’s mission statement is “to maintain a global perspective and supply such products that are of high quality at reasonable price to achieve customer’s loyalty and satisfaction”. The vision of IMOTO motor work is to “Serve people from all over the world with the joy of expanding their life's potential as well as lead the advancement of mobility and enable people everywhere in the world to improve their daily lives”. Several competitive strategies have been devised by the executives these are cost advantage, differentiation, increasing market share through unique and innovative products aswell as sales growth. Moreover, they can accomplish market leadership through operational excellence, meting their customers need through their products and achieve premium market prices. The company intended to target those customers that are interested in contributing towards sustainability (Mustata, Alexe and Alexe, 2017).
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Report 42Critical Evaluation of the Company PerformanceThe manufacturing industry uses key performance indicators (KPI’s) that helps in tracking the performance of an organisation (Cotterand Fritzsche, 2014). These indicators helps the company in accomplishing their organisational aims and objective as well as compete in the industry. Similarly, IMOTO motor work has been working towards improvingtheir performance by working on the key performance measures over the four rounds refer to Appendix B.2.1Key Performance Measures over the Four RoundsKey Performance Measures for IMOTO motor work CARROACCIONCARERRJAZZMarket Sector510149Production (units) for each model86025873684659329596Sales (units) for each model52965686834659329596Unsold stock (units) for each model330601868500Sales revenue for the company3246.393246.393246.393246.39Profit after tax (%)22357070Bank Balance$500 millions $500 millions$500 millions$500 millionsOutstanding Loan$523.67 millions $523.67 millions$523.67 millions $523.67 millionsShareholder Funds$644.50$644.50$644.50$644.50Market Share (%)1.021.410.960.57Productivity143.38124.81110.94295.96Productivity Index3.203.203.203.20The above-mentioned table represents the vital factors that are important for increasing the performance of IMOTO motor work to compete with their competitors that are BMW, Honda Motors, Toyota, Litex Motors and Hyundai. In order to enhance as well as improve their performance, the company need to launch new and innovative car models that are
(PDF) Business Management Simulations_4

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