Business Simulation and Professional Development Report: Boom Mobiles

This report provides a comprehensive analysis of a business simulation centered around Boom Mobiles, a smartphone manufacturer. Part A focuses on the company's vision, strategy, and performance review, including competitor analysis using Porter's Five Forces, market share analysis, and product/price strategies. The report examines the company's progress over a ten-year period, highlighting trends in customer demand and market share. Part B offers a reflective analysis of the simulation game, detailing the events experienced and relevant theories applied. It includes an executive summary, introduction, identification of key events, review of relevant theories and industry practices, and discussion of findings. The report concludes with recommendations for future practice and research, providing valuable insights into business strategy and professional development within a simulated environment. The report is contributed by a student to be published on the website Desklib, a platform which provides all the necessary AI based study tools for students.

Business simulation
and Professional
development

Table of Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
Vision and strategy......................................................................................................................1
Review of each year’s progress...................................................................................................2
Future plans and recommendations.............................................................................................9
PART B.........................................................................................................................................10
Executive summary...................................................................................................................10
Introduction................................................................................................................................10
Identified events.........................................................................................................................10
Review of relevant theories.......................................................................................................11
Review of practices of industry.................................................................................................12
Application of theory as well as practices.................................................................................13
Discussion..................................................................................................................................14
Recommendations for practice and research.............................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Business simulation can be defined as an opportunity which is provided to students while
studying in the university. With the help of it, they can experience the way in which a business in
established and operated. It can help all the individuals to use their entrepreneurship skill and
have experience of owning a business. It guides all the students to deal with all the negative
situations or uncertainties which may take place while executing business in future. It enhances
abilities of individuals to establish their own corporation in upcoming period by working under
real situations. Professional development is the process which is mainly focused with
development of capabilities of individuals to meet their career goals (Boyas and Teeter, 2017). In
order to make sure that future objectives such as establishing own business, working in a large
organisation etc. are achieved, it is essential for individuals to pay attention towards professional
development.
This assignment is based upon a simulation game in which a company which is operating
business successfully. The business which is being focused for this purpose is Boom Mobiles
which is phone manufacturing company and carrying out operations in different countries. There
are two main part of this report first one is strategy paper and another one is based upon
professional development. Part A covers topics such as vision and strategy, review of company’s
progress and performance analysis. Part B is focused with the reflection of the way in which the
simulation game was played and the event which was experienced which working in it.
PART A
Vision and strategy
Boom Mobiles is one of the largest smart phone producer and operating business in
different countries. Main aim of the entity is to capture the larger market share by offering
mobile phones to the customers that are enriched with latest technology. It is mainly based in
The Netherlands and operating business in UK, US, Canada, Japan, China, India, Malaysia,
Brazil etc. While carrying out operations it is very important for companies such as Boom
Mobiles to pay attention towards vision and strategy. With the help of it, effective decisions for
performing operational activities in future could be formulated. There are various elements that
are focused for vision and strategy. Description of all of them is as follows:
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 Vision: Boom Mobile’s vision is to expand its business in those countries where it is not
yet operating. It will help it to increase its global presence, number of customers as well
as the market share which will be captured by it (Goi, 2019).
 Values: For all the business entities it is very important to make sure that specific values
are followed by them as it can help to establish a positive image in the market. Boom
Mobile is mainly focused with higher loyalty and satisfaction of customers. For this
purpose, it pays attention towards all the queries and complaints of its clients which helps
it to be tehri first choice. The entity also considers retention of its existing clients and
attracting more and more new customers for the purpose of meeting all its long-term
goals.
 Mission: Boom Mobile is operating its business for the mission of becoming the market
leader by offering smart phones to the customers on affordable price. The organisation is
also focused with advanced technology and innovation so that it can offer highly
innovative devices to all its customers.
 HR (Human Resource): The staff members who are mainly responsible for operating
business of an organisation are the human resources. Boom Mobile makes sure that all
the individuals who are recruited by it are able to work according to expectations of
customers. The entity also pays attention towards proper training and development of
new as well as existing employees. It enhances their work quality and motivate them to
perform under all the difficult situations (Kaisare, 2017).
 Culture: In order to carry out all the operations according to planning it is very important
for all the companies to make sure that they are following a positive culture. If they are
not able to follow a culture that motivates staff to work properly then it will be very
difficult to meet business goals and objectives. Boom Mobile’s top-level management
makes sure that the organisation creates positive working environment for all the
employees so that they can work effectively. This culture of company helps to
accomplish all the goals with higher engagement of employees.
Review of each year’s progress
Boom Mobile is a smart phone manufacturer and seller which is carrying operations in
different countries. Main purpose of it is to attract more and more customers so that it can reach
to all its goals which are higher profits, increased sales etc. The entity is also focused with the
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advanced technology and innovation that are related to smart phones. All the trends in mobile
industry are analysed and focused by the organisation so that it can offer innovative smart
phones to all the customers. In order to assess that the activities are being performed in planned
manner and the strategies have resulted positive for company or not progress of business is
require dot be reviewed (Kasimu, Wu and Bian, 2019). In Boom Mobile different aspects are
analysed for this purpose. All of them are as follows:
Competitor analysis: It is a technique which is used by all the companies to determine
the level of competition in the industry. With the help of it, all the elements which may leave
negative impact upon business could be determined. The best suitable model which could be
used for this purpose is Porter’s five forces analysis. Description of it for Boom Mobile is as
follows:
Porter’s five forces analysis: It is a strategic tool which is mainly used to determine
impact of different elements upon business. There are five different forces of it which are
discussed below in context of Boom Mobile:
 Rivalry in the industry: It is first force of porter’s five forces which is analysed to
determine the competition in the industry. In smart phone sector various major players
are carrying out operations. These are G Mobiles, V Connect, Yell, Limit less, I Tech etc.
which means that rivalry in the industry for Boom Mobile is very high and it will also
affect the operations of the company (Nugent and Stoyanov, 2019). In order to deal with
it, the managers will be required to formulate effective and efficient policies which will
help to sustain in the market.
 Threat of substitutes: All the items which are offering same benefits to the users are
considered as substitutes for each other. In order to be the first choice for customers it
will be very important for Boom Mobile to analyse the substitutes for itself. Some of
them are digital devices, video calling apps, tabs etc. It shows that the threat of substitute
for Boom Mobile is moderate and the organisation is required to ignore its major impact
upon business. For this purpose, latest technologies could eb incorporated in smart
phones sold by the company. It will help to reduce the threat of it on business (Nugent,
2018).
 Threat of new entrant: When a new entity introduces new products same as existing
players in the industry then it creates threat for those companies. In order to deal with
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them, it will be very important to for all the companies to formulate effective strategies.
Smart phone industry is very large and the monetary resources which are required to
enter in it are very high. It shows that there is a major barrier for the new entrants in this
industry. Therefore, the threat of new entrant for Boom Mobile is low as a new company
will require huge funding to be the part of the sector.
 Bargaining power of customers: The people who are purchasing items from an
organisation are the customers for that company. Their bargaining power depends upon
the options that are available for them to buy a product. The competition in smart phone
industry is very high because of players in the sector. Due to this, the bargaining power of
customers will be very high for Boom Mobiles. In order to reduce the negative impacts of
it the organisation is required to take effective steps and set competitive prices for all its
mobile phones. It will help to attract new customers and ignore the possibility of their
bargaining (Ruszkowska and Wardaszko, 2016).
 Bargaining power of suppliers: Individuals or the companies which are delivering
goods to the producers of final products are the supplier for them. When their number for
them will be high then it will result in lower bargaining power of them and if there will
be lack of suppliers then it will result in very high bargaining power of them. Because of
large size of mobile phone industry, the number of suppliers for Boom Mobile is very
high which has resulted in lower bargaining power of them for the organisation.
Market share: The area which is covered by an entity by selling its products to the
customers is considered as the market share of it. With the help of it, it could be analysed that the
company is able to meet all its planned goals or not. In order to assess the market share of Boom
Mobile customer focus segmented demand of it is analysed. The details of analysis shows that in
2020 the demand for the smart phones of the company was 326000 and it was reduced up to
274480 in 2021. In 2020 no changes in it were recorded and it was constant for the year. The
records of year 2023 are showing an increment in the demand as compare dot previous two
years. It was increased up to 316124 for 2023. For next four years which are 2024, 2025, 2026
and 2027 it was same and no changed took place in the customer focus segmented demand of
Boom Mobiles. In 2028 the demand of smart phones of the company was 324667 and it was the
same for 2029. The market share analysis shows that in 2020 the demand was very high but it
was decreased in new year but at the end of 10 years period it was able to meet the demand of
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first year. The market share analysis reflects that the strategy of company is not able to benefit it
as the demand of it has been decreased in past few years (Saprykin and Saprykina, 2017).
Product or price strategy: All the business entities should be focused with their price
and product strategies as it can help to analyse that expectations of clients will be met or not. For
this purpose, price and product quality related demand could be analysed. The analysis of Boom
Mobiles is showing that in 2020 the price focused segmented demand of the company was
1600000 and it was reduced up to 1266600 in 2021. In 2020 no changes were recorded for the
same and demand for smart phones for the year was same. In 2023 the demand on the basis for
smart phones sold by Boom Mobile was increased up to 1427800 and it was constant for next
four years which are 2024, 2025, 2026 and 2027. In 2028 slight changes in the demand were
recorded and it was increased up to 1492600 and it was constant or 2029. On the other hand,
segmented demand on the basis of product quality was 230000 and it was decreased in 2021 up
to 163900. In 2023 it was increased up to 186400 and again it was constant for upcoming four
years from 2024 to 2027. For year 2028 and 2029 the demand according to product quality was
192800. The product and price analysis of Boom Mobile shows that the company has
experienced various changes in segmented demand on the basis of price as well as product
quality. These changes have resulted in weak performance of it and difficulties in reaching the
long-term objectives (Servis, Martinez-Baez and Clark, 2020).
Competitors: All the companies which are performing operational activities in same
industry and delivering the goods to the same customer segment are treated as competitors for
each other. In order to be the market leader, it is very important for an entity to attain higher
level of competitive advantage as compared to other competitors. If it will not be able to compete
with the other entities then it will be very difficult to sustain in the industry. Boom Mobile is a
smart phone manufacturer which is operating in the mobile industry. The competition for it is
very high because of large number of operators in the sector. Main competitors of it are Yell, I
Tech, G Mobile, V Connect, Limit Less etc. The entity is mainly focused with innovation and
this strategy of it helps it to attain success in the industry and be more successful as compared to
the competitors (Silva, Casarotto Filho and Frazzon, 2020).
Competencies and capabilities: The qualities of a company which are facilitating it to
meet the expectations of clients and helping to sustain in the industry are the competencies and
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capabilities of it. The analysis of market, price and product has helped to determine different
such types of elements for Boom Mobile. Description of some of them is as follows:
 Focus on advanced technology: Boom Mobile is very focused with latest technology as
it uses it to deliver best quality smart phones to the customers. The entity uses advanced
technology in all its mobiles which is the main capability of it that helps it to be the first
choice of its clients.
 Huge demand of smart phones: The market share, price and product analysed
demonstrates that demand of products that are sold by Boom Mobile is very high. It is a
competency of it which is facilitating it to deal with high level of competition in the
industry.
Analysis of financial statements: All the accounts that are generated at the end of
accounting yar for the purpose of sharing information about performance of company are known
as financial statements. With the help of them, it could be analysed that organisation was able to
meet all the set standards of not. Apart from this, final accounts also help to formulate effective
strategies for future by analysing actual situation of business. There are three main types of
financial statements which are described and analysed below in context of Boom Mobile:
 Income statement: This final account is created for the purpose of recording information
of all the expenses and incomes that are generated and faced by the entity in the financial
year. Main purpose of it, is to aware the stakeholders about the actual profitability of
business. If the accounting professional of an entity are not able to generate it properly
then it will be very difficult for the management to analyse actual profits. Form the
income statements of Boom Mobile it has been determined that since year 2020 to 2029
the entity was not able to generate profits. During the period of 10 years only losses were
faced by the entity. The net loss for all the years was 356000 and during these years no
gross as well as net profits were generated. From the income statement of the company it
has been analysed that the entity was not able to perform properly as only losses in the 10
year’s period were experienced. It also shows that the enterprise was also not able to meet
its targets.
 Balance sheet: It is the final account which is generated to analyse financial position of
the company. Detailed information of equities, assets and liabilities are recorded in it. It
helps to assess that the company will be able to meet expectation of shareholders who
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provide funding to carry out all the operations. From balance sheet of Boom Mobile, it
has been determined that the company was having cash of around 506300 for the 10
year’s period from 2020 to 2029. On the other hand, the issued capital of it was around
240000 and the premium reserves were of 512200 and the reserves were showing the
negative balance of 495500 (Teach and Szot, 2019). The statement of financial position is
showing that Boom Mobile has not attained any type of progress in the 10 years and it
was not able to meet the business standards. It is very important for the top-level
executives to take effective actions against the current position of business so that the
possibility of huge losses in future could be ignored.
 Cash flow statement: It is generated by companies to record information of all the
transactions that are performed in monetary terms so that actual inflow or outflow of cash
for the accounting year could be determined. The cash flow statement of Boom Mobile
shows that the organisation has not generated any type of income since year 2020 to
2029. The expenses for the same years were around 320000. These expenditures cover
different elements which are staff recruitment of 200000, social security of 70000,
recruitment cost of 20000, staff overhead of 10000 and general maintenance cost of
20000.
From the analysis of financial statements, it has been determined that Boom Mobile was
not able to meet its targets as no profits were generated by it in the 10 years. Apart from this, the
performance of it was very poor because of lower level of profitability and liquidity. The
organisation is required to take appropriate actions so that it can deal with all the potential
challenges that may take place in future (Tsaples and Tarnanidis, 2020). Some of them are
becoming insolvent, decreased demand in future, lower sales etc.
Performance analysis: It is about studying or evaluating performance of specific situation in
comparison to goals that are determined for attainment. All business undertake performance
analysis in order to examine whether business plan is achieved or not or reasons for better or
worse performances that rivals and analysing changes made in business plan and their potential
impacts. In context to Boom Mobile, it is responsibility of finance managers to evaluate the
results achieved via implementing business plan and sharing same information with higher
authorities.
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As per the information, it is evaluated that the company achieved unfavourable results in
accordance with the actions made by it to boost demand sales (Majeed and Fayaz, 2020). It is
assessed that the sales of its products between 2020 to 2029 were fluctuating that is in some year
it was able to meet desired sales while in another year, desired success was not achieved. This
shows that the strategies adopted by it were not effective and efficient as its demands and sales
target has decreased in last year’s.
The decision making of managers of Boom Mobiles in context to its human resource was
effective as the entity has accomplished various plans and actions with productive and competent
manpower. The human resources recruited and hired by the business have skills and knowledge
about the ways to perform activities in the industry. Moreover, it has been evaluated that
decision making for marketing and promoting smart phone were not effective as implementation
of them do not resulted in success or desired position in market (Li, Lin and Xue, 2017).
Boom Mobile has taken various decision related to product development after conducting
market research and other important practice. This has resulted in making certain changes in
existing product range and offering something unique in smart phone industry that attracts large
customers towards it. As per evaluation, it is seen that the entity has achieved favourable results
in the year in which it has launched developed product as it enhances its sales to huge extent.
The events organised by the entity are networking symposium, comparison among news
with cultural context and so on. In these events, large number of people from different nations
participated and shared the viewpoints about leading, managing and achieving success by
simulated business. It has been evaluated that the responses for the event were quite favourable
with the determined plans as diverse number of business leaders participated in them and
exchanged effective relations.
Boom Mobile supplies its products in different nations. So it is essential for the entity to
devise decision making to manage and maintain logistics level up to defined state (Greulich,
Edelkamp and Eicke, 2015). It has been appraised that the decision taken by managers for
logistics were not triumphant enough as the defined level of sales and incomes were not achieved
by the company during period of 2020 to 2029.
In smart phone industry, multiple companies such as G Mobile, Yell, Limit Less, I Tech
and etc operates their functions. The practices adopted by Boom Mobile were quite different
from industrial competitors that create high competitive rivalry in the industry. It is perceived
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that Boom Mobile basically focuses on innovation strategy which assists it to accomplish success
among competitors and achieve more proportion of success aspects as compared with rivals. In
period of 10 years, Boom Mobile has not made any change in ist business plan which is seen
from its income statement and balance sheet that impacts negatively on its position and success
in smart phone industry. It is because to sustain for long term it is important for an entity to make
relevant changes in its business plan each year and initiates workings accordingly to gain success
(Romiszowski, 2016). But in context to Boom Mobile, it is not so as the business only woks with
same business plan that is formulated by managers in initial years.
Future plans and recommendations
As per performance analysis of Boom Mobile, it is evaluated that performances of the
simulated company are weak. It is essential for it to prepare effective strategies to overcome
from the weak performances. In this context, the entity can emphasis on following plans and
recommendations for next five years:
 Plan I: Boom Mobile must make changes in its current marketing strategy and should
adopt relationship marking, email marketing and social media marketing for promoting
its products and attracting huge number of customers towards it.
Recommendation: For making changes in marketing strategy, the entity is recommended
to hire productive and skilled marketing people as well as use secondary methods to
collect information about preferences of customers for smart phones. This will result in
identifying choices or preferences of customers about its products and meeting their
demands with marketing strategies towards so to make sustaining position in the industry.
 Plan II: Production department of Boom Mobile must adopt advanced and innovative
measures for enhancing level of production in next 5 years so that it will be able to satisfy
demand for its products in domestic and international market.
Recommendation: For enhancing level of production, Boom Mobile is suggested to
adopt product development strategy so to modify current smart phones or make new ones
to meet demands of market. This will show enhancement in generating incomes, meeting
demand and achieving progress in workings.
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PART B
Executive summary
Reflective report has been summarised as working of a person in team within simulated
organisation that is Boom Mobile. In this report, chosen business is Boom Mobile which is
leading manufacturer and distributor of smart phones across the world. In past years, the business
has gained huge recognition in smart phone industry through its variants of mobile and other
accessories. The identified events in the report are networking symposium and comparison on
news addition to cultural contexts. Relevant theories that are reviewed include organisational
communication theory and situational leadership theory. The industrial practices as reviewed in
report comprises of competition and innovation. The entity is also recommended to adopt
effective and advanced measures in production of smart phones and use secondary research
methods for collecting information to collect information about market demands and sharing the
same with stakeholders to attain success in research and practice.
Introduction
In present competitive world, professional development is necessary for an individual. It is
described as process to develop and enhance potentials of staff via opportunities related to
education and training either at workplace or outside the premise in order to improve skills and
learning for the operations (Olsen, 2015). While undergoing with MBA course, I gained lot of
knowledge about multiple concepts, models and theories about management and styles or plans
adopted by companies in the industry to perform well. Further, while working in team of
simulated business that is Boom Mobile, I analysed that my learning in course of degree was
completely opposite or different to what I learnt in team working. In this context, workings and
activities in the organisation helped me to apply knowledge and learning in practical situations.
The reflective report covers topics related to identified events in simulated business, theories that
are relevant with the workings of company and industrial practices. Moreover, it also involves
application of theories together with practices and some of the recommendations for the practice
and research to simulated business.
Identified events
Occurrences which happen at determined location and specified duration are said as
events. It is successful when human agents participate in it with full determination. It is chain of
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