Global Business Simulation: Team Strategy and Performance Report

This report provides a comprehensive analysis of a global business simulation, detailing the team's initial strategy, its evolution throughout the game, and performance against key metrics. The report reflects on the simulation's effectiveness in understanding the business environment and making strategic decisions. It evaluates the team's strengths, such as effective decision-making and innovative strategies, while also identifying areas for improvement, particularly in repositioning costs and market expenditure. The report highlights the benefits of the simulation in developing business acumen, team work skills, and the ability to apply theoretical concepts to practical market scenarios. Reference materials have been included to support the analysis.

Running head: GLOBAL BUSINESS
GLOBAL BUSINESS
Name of student:
Name of University:
Author’s Note:

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Table of Contents
Part 1: A reflective evaluation of the team’s initial strategy and how has it evolved during the
course of playing the simulation game............................................................................................3
Part 2: A reflective evaluation of team’s performance against the key performance measures used
in the simulation game.....................................................................................................................4
Part 3: Things in the simulation game and places where the group has performed well and areas
that needs improvement...................................................................................................................6
Reference List..................................................................................................................................8

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Part 1: A reflective evaluation of the team’s initial strategy and how has it evolved during
the course of playing the simulation game
Simulation game has been an effective parameter in understanding the business
environment and how to use inputs efficiently to maximize the profit level. Simulation game
helps in the learning process of the students by giving a real world exposure of businesses. The
most effective strategy of playing a simulation game is to take decisions as per the market
demand by keeping in mind about several factors that widely hampers the business. The initial
strategy of the team is to align simulation with course learning objectives. The aim is to make
quality sales of the product by maintaining its long run sustainability that will evolve during the
course.
It is important for investors to essentially deal with learning outcomes over the course of
the work that will improve the performance of each player. Simulation game has several decision
making elements such as marketing, demand, supply, logistics, finance decisions, human
resources, and productive capacity and output that is necessary for extracting quality sales of the
product (Merchant, et al. 2014). I have first tried to acknowledge the leaning objectives and then
used them as a tool to identify the market imperfections with respect to several changes that
affects the business environment. One of the effective way is to follow a sequence of brief-play-
debrief programs that is organized after every business strategy game round to indicate the
performance of each player and rank them accordingly. This has actively raised the level of
competition among various students and each them puts their best effort to make this practice a
success for future entrepreneurs.
Performance of team members are not only judged by financial degree but by the
introduction of an innovative approach that is sustainable in the long run. The game has certain

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criteria on how to score points and stay ahead of the competitors such as product development,
positioning costs, repositioning costs (Farashahi and Tajeddi 2018). This game has enabled me to
understand the way markets perform and the range of factors that affects the business
environment. Simulation game has acted as an effective tool to improve the way businesses are
conducted because a real world exposure has actively helped in the development of firms (Faria
2014). The strategy has been followed during the course of the game which has kept students
motivated and encouraged to perform several activities that foster economic growth and
development in firms.
Part 2: A reflective evaluation of team’s performance against the key performance
measures used in the simulation game
The simulation game has created an active work environment that provides with multiple
arrangements. Setting a business generally involves time and money which is not possible to get
at the same time. Simulation game is described as a simulation of real supply by managers to
design educational content and leadership skills. Each player opens up their individual retail
stores and build efficient strategies to source their product types so as to raise the sale of the
product and extract profit margins. An economy is an area where demand and supply of goods
and services takes place. This depends on the level consumption, spending, distribution and trade
with respect to the national income and standard of living. The creation of a dynamic
environment for the future leaders has effectively improved the trading structure as new
entrepreneurs are aware of the goods that has to be dealt in the market for maximizing the profit
level. There are various risks in doing business that comes in the way and hampers the growth
(Peixoto, Resende, and Pádua 2014). Although business simulations are risky to deal with, there
are no real world risks that comes in the way.

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The performance of the players are tracked in the score board of the mentor who then
evaluates the causes of inefficiency or efficiency in production parameters. This structure is
followed by a detailed feedback from the participants about the measurement of systematic
decisions that is implemented in the simulation game. The structured approach provides with a
detailed description of the participants about the key parameters such as objective, mission,
features, efficiency to handle situations Feinstein and Cannon 2014). The success of a project is
estimated by the change in overall business operation relating to sales and market demand. After
this, an efficient relationship is created with the observed data that relates to the key features of
each group with respect to its market success.
The team has performed actively which has positively affected the sale of the firm. The
performance of the firm has improved after we shifted our focus towards cost structures, time,
product quality, market demand, supply according to changes in market demand. Efficiency has
been opted with the proper implementation of strategies as instructed by the mentors (Aebersold
2018). I am able to implement the theoretical concepts in practical market which has provided
with many benefits such as decision making and team work skills. A market analysis is done to
bring about the key factors that has led to growth in various sectors. The team has effectively
used its skills to sell the product in the market as per the change in market conditions. Decision
sheet is properly maintained which enables the team to carefully utilize the budget by keeping in
mind about the future benefits and costs (Kong, Kayumova and Zakirova 2017).
Part 3: Things in the simulation game and places where the group has performed well and
areas that needs improvement
Simulation game has been an effective parameter to motivate young entrepreneurs who
are unsure about market conditions. The game helps to develop core business values that can

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only be achieved with experience. I have acquired knowledge over wide range of things on
which I based only basic knowledge which was insufficient for effective functioning of business.
These strategies are related to demand, supply and effective marketing strategies. Entrepreneurs
have to care of various features that hampers the growth of their business such as the production
and supply with respect to market demand (Kenworthy and Wong 2014). I am able to monitor
the strategies opted by the rival firms that might hamper the sale of the firms. The game teaches
ways to counter balance the strategies taken by rival firms that slows business growth. I am able
to implement new techniques that improves per capita production and raise consumer demand in
the market place. Experimental leaning has been more effective than theoretical approach as it
gives an experience to the future entrepreneurs on how to effectively investment in tools and
extract huge sales.
The team plans its budget it respect the core business statistics that fosters economic
development. Simulation game provides a greater knowledge on how to allocate resources
efficiently to maximize the profit margin (Smutny, Prochazka, and Vaculik 2016). Entrepreneurs
need to have an idea on how to distribute goods as per location and maximize sales. Production
Investors can understand the efficiency of the product before it is actually sold in the market by
various firms. Students become more motivated to invest in new tools and techniques. They are
encouraged to take risks that permits them to study problems at different levels of abstraction.
This incorporates a sense of nosiness understanding and how to deal with goods in the market
which improves the performance of the entrepreneur in the long run (Pariafsai 2016).
The game is effective in the provision of systematic and structured learning experience
for the players or students who use it study about the market trends. The team performs very well
in areas relating to development, decision making and positioning. The team has effectively

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planned its outcomes by implementing innovative strategies. The team has acknowledged the
competing areas such that more focus is given on two attributes- style and quality. Marketing
plays a crucial role in the sale of the products and enabled the team to have a greater knowledge
about consumer behavior, preference of buying the good, positioning, pricing strategies and
product positioning.
The strategy to focus on market based profits instead of qualitative assessments has led to
a gain in comparative advantage on the provision of the goods. However, difficulty aroused in
the area of repositioning costs because repositioning the current product with respect to
competing teams is very complex (All Castellar and Van Looy 2016). This is because
repositioning is done with respect to a change in quality and styling patterns which leads to a loss
in points and costs the team. The team needs to think critically about the marketing expenditure
and then enhance the productivity with respect to cost efficient techniques that delivers
maximum profits at low costs (Ranchhod et al. 2014). The team has benefitted from the
simulation as it helped to understand the efficiencies in business and the areas which require
further improvement.

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Reference List
Ranchhod, A., Gurău, C., Loukis, E. and Trivedi, R., 2014. Evaluating the educational
effectiveness of simulation games: A value generation model. Information Sciences, 264,
pp.75-90.
Merchant, Z., Goetz, E.T., Cifuentes, L., Keeney-Kennicutt, W. and Davis, T.J., 2014.
Effectiveness of virtual reality-based instruction on students' learning outcomes in K-12
and higher education: A meta-analysis. Computers & Education, 70, pp.29-40.
Smutny, P., Prochazka, J. and Vaculik, M., 2016. The Relationship between Managerial Skills
and Managerial Effectiveness in a Managerial Simulation Game. Innovar, 26(62), pp.11-
22.
Pariafsai, F., 2016. Effectiveness of a Virtual Project-Based Simulation Game in Construction
Education. International Journal of Scientific Research in Science, Engineering and
Technology (IJSRSET), 2(5), pp.377-393.
Kong, Y., Kayumova, L.R. and Zakirova, V.G., 2017. Simulation technologies in preparing
teachers to deal with risks. EURASIA Journal of Mathematics, Science and Technology
Education, 13(8), pp.4753-4763.
All, A., Castellar, E.P.N. and Van Looy, J., 2016. Assessing the effectiveness of digital game-
based learning: Best practices. Computers & Education, 92, pp.90-103.
Farashahi, M. and Tajeddin, M., 2018. Effectiveness of teaching methods in business education:
A comparison study on the learning outcomes of lectures, case studies and
simulations. The International Journal of Management Education, 16(1), pp.131-142.

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Aebersold, M., 2018. Simulation-based learning: No longer a novelty in undergraduate
education. OJIN: The Online Journal of Issues in Nursing, 23(2).
Kenworthy, J. and Wong, A., 2014, February. Developing managerial effectiveness: assessing
and comparing the impact of development programmes using a management simulation
or a management game. In Developments in Business Simulation and Experiential
Learning: Proceedings of the Annual ABSEL conference (Vol. 32).
Feinstein, A.H. and Cannon, H.M., 2014, March. Fidelity, verifiability, and validity of
simulation: Constructs for evaluation. In Developments in Business Simulation and
Experiential Learning: Proceedings of the Annual ABSEL conference (Vol. 28).
Faria, A.J., 2014, March. The changing nature of simulation research: A brief ABSEL history.
In Developments in Business Simulation and Experiential Learning: Proceedings of the
Annual ABSEL conference (Vol. 27).
Peixoto, D.C., Resende, R.F. and Pádua, C.I.P., 2014, October. Evaluating software engineering
simulation games: The UGALCO framework. In 2014 IEEE Frontiers in Education
Conference (FIE) Proceedings (pp. 1-9). IEEE.