Business Report: Reflecting on SimVenture Experience and Skills Gained

This business report reflects on a student's experience using SimVenture, a business simulation game, to develop various skills. The report utilizes the Gibbs reflection model to analyze the different stages of the experience, including the initial team formation, application of business theories, and challenges faced during the simulation. The student highlights the acquisition of employability skills, such as teamwork, financial analysis, and customer awareness, and emphasizes the importance of these skills in running a successful business. The report also discusses the challenges encountered, such as initial team incompatibility, and how these were overcome through improved communication and collaboration. The student concludes by reflecting on the positive outcomes of the SimVenture experience, including increased entrepreneurship skills and a better understanding of business operations. The report underscores the value of teamwork, effective time management, and the application of theoretical knowledge in a practical business context.

Fundamental of business report

INTRODUCTION
The present study is based upon the reflection in which the investigator used Gibbs
reflection model in which different stages are used that helps to share the experience which a
team had while performing through Sim venture. Also, the current study helps to determine
the skills and knowledge which gain so that it can be applied within a future as well.
MAIN BODY
With the help of Gibbs reflection model, people are actually think in systematic
manner and also share their experience in better way to other by describing the range of skills
gain through any specific task. In the same way, when I conducting a project through Sim
venture, I analyze I gain many skills and even I also put the theory in order to run a company
by using a Sim venture. There are six key stages which are used in order to share the
experience in better manner. These key stages are as mention below:
We are working in a team in which we put many theories in order to determine the
impact upon running a business. Even I also learn many employability skills and team based
activity which will also help me in my future as well. Earlier I was not aware with many
concept and resources required in order to start up the business but when I work with my
team, I analyze that it require so many key things in order to meet the define aim. Such that
we all are working in a team and I think that is the biggest advantage because we all share the
views and opinion with each other in order to make sure that we all perform well and also
increase learning as well. Further, during a sim venture which is a good strategy in order to
determine the things and knowledge required to run a company in better manner. This game
helps me to predict the things which in turn assist to analyze the feasibility of the project.
Like it is beneficial for the people and society or not.
We are working in a team and the overall situation is too good because it provide me
an opportunity to learn the things and with the support of all the team members we are
successfully played the game and also analyze that there is a positive solution. Basically I
think that if I perform the work individually it will be good but while working with a team, I
analyze it is far better than working individually. Through the game, I applied different
theories and key aspects which need to be consider in order to run a business in better
manner. Thus, with the help of complete team work, we are able to enhance our
employability skills which in turn meet the define aim as well.

Before conducting the project, I feel quite nervous but when I work with team, I
analyze that this is better because whenever I face any issue, one of my team member support
and encourage me and as a result, I feel motivated. This is the best thing which I feel because
we all are ready to help each other and this in turn develop team working abilities which also
help me in my future. When we all performing the game, we all are not have enough
knowledge regarding to operating Sim venture, but with proper support and effective time
management learnings we are able to perform the work and cope up with many situation.
During the game, I feel so excited because it was the first game which I am going to
perform with the help of some people. Though I was not sure that they support me or not, but
there are many situation where I realize that there are many problem which we solve with the
help of strong abilities and support from each other. Looking back, I feel satisfied that
decision taken by the team is good as it leads to positive attitude and also raise
entrepreneurship skills as well.
While performing the project with the help of Sim Venture, I evaluated that there are
many things which goes right while I also faces many adverse situation that show how affect
the morale. Like, I increase many employability skills and also manage the work which I
learn from the team, also raise team working abilities and enhance the business and customer
awareness which I got to know while performing the game. Such that in order to run a new
venture, there is a need to have strong abilities regarding to business because by analyzing the
need of customers and then offer the same product will help a business to grow and stay
financially strong as well. I further evaluated that I also uses many theory in order to analyze
the feasibility of a project such that financial skill which is quite necessary for the company
in order to manage and interpret the financial data. In addition to this, having this skill also
assist to examine the risk associated with the business financial performance. That is why, I
also analyzed that with the help of effective skills with regards to every department, like,
sources of funding, risk related to finance which I learn from Sim Venture are consider an
important key aspect for run a business.
On the other hand, I also evaluated that there are some opposite condition which I
face during this is such that at initial level, we do not have a strong compatibility and as a
result, our project is suffered. Even I possess strong interpersonal skills which helps to make
familiar with others but during initial level, the things are not right. So, to cope up the
situation, we start sharing the views which in turn help to make us comfortable with each

other and this in turn leads to meet the motive. In this way, we all work together and at each
stage always ready to help each other.
CONCLUSION