Business Simulation Report: V-connect's Strategic Plan and Review

This report analyzes the business simulation of V-connect, a young company aiming to dominate the smartphone market. The simulation involves a series of rounds, each representing a year, where the company reviews its performance and makes strategic decisions. The report details V-connect's future plans, including developing a strong brand image and expanding into new markets. It evaluates the success of the company's cost leadership, product leadership, and customer focus strategies, providing recommendations for future improvements. The report also includes a review of the company's progress, competitor analysis using Porter's Five Forces, and market share analysis. The vision, values, mission, and company culture are also presented. The report emphasizes the importance of identifying customer needs, adopting new technologies, and fostering a positive company culture for achieving success in the competitive smartphone market. This report provides a thorough review of business performance and strategic recommendations for V-connect.

Business
simulation
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Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
PART A.......................................................................................................................................................3
Section A.................................................................................................................................................3
Review and present future plan for the company.....................................................................................3
Section B.................................................................................................................................................4
Vision and Strategy of Phone Venture.....................................................................................................4
Review of each year progress..................................................................................................................5
Future plan and recommendation...........................................................................................................12
CONCLUSION.........................................................................................................................................13
REFERENCES..........................................................................................................................................14
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INTRODUCTION
Business simulation can be defined as the simulation that is used for education, training
or analysis based and can either be scenario or numeric-based. Using business simulation can
help in illustrating theoretical concepts in an effective manner and can also lead to an increase in
engagement as well as knowledge retention (Draijer, 2020). There are many advantages
associated with business simulation like the participants not just focus on gaining theoretical
knowledge, but also helps them in building and improving skills and gain a better view of the
organization. If companies use business simulations, they can help in creating an environment
that is risk-free and encourages participants to learn from the mistakes made by them in a safe
environment. They also allow employees of the company to experience the consequences of
different business aspects personally (Lin, Yen and Wang, 2018). Also, participants can grasp a
variety of concepts within a short duration of time as well as engages them.
This report is based on Phone Ventures which is V-connect, a young business with the
aim of taking over the Smartphone market completely. The company started off as a small
business but took over its competitors that were leading the supermarket industry previously in a
very short duration of time. The company’s goal is to become of the serious players within the
market and utilize more and more opportunities so that overall sales increase. The simulation has
a series of rounds wherein every round is equal to a year. In every round, the results are reviewed
from the previous years which are then followed by making new decisions. The report explains
future plans for the company and evaluates the success of the strategy that is developed.
Recommendations for the future along with a Five-Year strategy are also included. Lastly, a
reflection on how working in the team can be helpful is also a part of this report.
MAIN BODY
PART A
Section A
Review and present future plan for the company.
V-connect is comparatively new business in creating and developing smart phone
industry. Plans can be describe as the set of actions that is taken by organization in order to grow
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and develop business into market area as well as provide its business offering to large number of
customers. Future plan of this organization is to develop and growth business in new and
different market area in order to enhance business performance as well as developing strong
image in organization (Aranda, Sánchez, and Djundubaev, 2016). The aim and motive of V-
connect company is to take over the smart phone market area by providing high quality products
and services to potential customers. Future plan of respective company includes developing
strong brand image of organization as well as becoming the serious players of respectable size of
company in market area. This organization is planning to operate into new market areas as well
as achieving different business opportunity in order to increase sales of company. Increase in
sales and profits are the ultimate goals of business and all plans of organization is based on
achievement of these goals and objectives. This organization is considering new and innovative
technology in order to conduct business task as well as implement all future plans of business in
effective manner. There are various risk and issues that is associated in implementation of
strategy and developing future plan of company. V-connect organization is creating plan for
identifying needs of customer as well as market trends in order to provide its products and
offering to customers. respective company is planning to become top most company in
developing and manufacturing phone organization. Future plans of this company includes
providing new model of V-connect Smartphone from 2030 onwards.
Evaluate the success of your strategy and make recommendation for future plans.
Strategy play crucial role in enhancing business performance as well as accomplishment
of business objectives. It is very important for respective company to develop and create strategy
that will lead to enhance business performance as well as support in accomplishment of set
objectives V-connect company is considering cost leadership, products leadership and customer
focus strategy in order to perform business activities and well as providing its high quality
products to different set of customers (Carenys and Moya, 2016). Consideration of cost
leadership strategy in business operation will assist respective company to offer affordable
products in market area. Product leadership strategy will help V -connect organization is
manufacture and offer high quality and different products that is according to the need and
requirements of customers. Strategies that is consider by respective company will focus in
providing high quality products and services to customer in low cost that is able to meet with the
needs and requirement of potential customers. It is focusing on customers while providing its
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products and services in market area. This strategy will help in gaining competitive edge over
other rival companies and perform business task in more effective manner.
There are some recommendation that will help V-connect organization to perform business
activities in more effective and efficient manner that will lead to develop strong brand image in
market area. It is essential for this company to identify and analyses the need and wants of
customers while providing high quality products and services (Hernández-Lara, Perera-Lluna,
and Serradell-López, 2019). New and advance technology will help respective company to
perform organizational activities in more creative and innovative manner in order to achieve
desired goals of business. Advance technology will help V-connect organization to improve its
functioning and increase capability of business to perform required task in better manner.
Section B
Vision and Strategy of V-connect
Vision of company - Vision statement of V-connect is to take over the smart phone
market completely by offering quality phone to potential customers.
Values of company – There are three primary value of V-connect Smartphone Company
is based on i.e., premium Smartphone, shaping future technology and innovative idea.
Mission of company – Mission of V-connect Smartphone mission is to adopt new technology by
diminishing traditional or classical technology so that they can attract more and more customers
at marketplace (Orozco-Leyva, Paredes and Estrada, 2020).
Human resource – In an organization, human resource is significant resources for each
organization who is working as a component of the economy. This involves individuals who are
accepting exercises similarly as tries to guarantee that the endeavor can achieve its goals and
goals in a promising manner. V-connect ensures the reinforcing similarly as progress of the
delegates by putting time inside them to the extent getting ready and headway, enticing
gatherings, workshops and various things. Through this, the laborers are made skilful as
indicated by the essentials of the association. Through the execution of instructional courses, the
firm can amass information on new advancements and structures inside the laborers,
empowering expansion in their uplifting and consequently the productivity levels (Freeman,
2020). Moreover, inside straightforward terms, it very well may be said that human asset is a
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significant piece of an association and it gives help with leading everyday schedule exercises
inside a progressively successful way. Alongside this, it likewise works for the government
assistance of staff individuals with the goal that they will feel persuaded and bring about
improving efficiency.
Company culture – The corporate culture inside the restrictions of V-connect is shaped
examining the explanation that motivation goes about as the best approach to accomplishment of
incredible and capable shows from the laborers. Thusly, the corporate culture of this mobile
phone affiliation will when all is said in done fixation subsequent to giving devotion inside the
agents with the objective that they can work in a sensible and direct manner. It propels the
possibility of value and fair assortment inside the purpose behind the association on all events.
The component has developed a culture which perpetual gracefully of frameworks according to
the necessities and solicitations of customers in the business community. It is significant for V-
connect to concentrate on their way of life and plan such a methodology which helps in building
a positive situation. With the goal that better results will pick up in a viable way just as upper
hands moreover.
Review of each year progress
The performance of a company determine with the passage of each successive year which
help them in decision making. For a business unit it is important to review their performance
ever annum so that they devise future course of action in respect of same (Barcante and et. al.,
2020). So in order to review their per year performance V-connect conduct several analyses from
which some are mentioned below:-
Competitor Analysis
Porter’s five force –
 Customer’s Bargaining Power – For V-connect client bargaining power is high in light
of the fact that there are huge number of substitutes accessible inside market territory
(Fekula and Rodriguez, 2020). Over the long haul it has been distinguished that separate
business firm has become successful as well as effective in diluting customers power of
bargaining with the help of utilizing separation strategy inside successful way for creating
smart phone which have abilities of upset market region. Such techniques bring about
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supportive for organization to impart feeling of confidence among clients for association.
Alongside this, it likewise brings about expanding deals and benefit of organization.
 Supplier’s Bargaining Power – In connection to V-connect providers or suppliers
bargaining power is low on the grounds that inside the cell phone industry number of
suppliers isn't a lot of which legitimately brings about low suppliers bargaining power.
Over the long haul it has been seen that for the separate business huge number of
providers have been spotlight which brings about expanding the extent of this power for a
business firm. V-connect is keeping up connect with various providers so it will bring
about weakening the degree of this power.
 Threat of Substitutes – In respect of V-connect the threat of substitutes is high because
at market there are several companies who offer similar kinds of products or smart phone
at the potential marketplace. In addition to this respective company come up with new
and innovative ideas related to smart phone but there are several companies who imitate
as well as launch similar kind of smart phone at the market at the low price which attract
customers. This will directly impact on the sales of Phone Venture.
 Threat of New Entrants – The degree of this power in setting of cell phone sector was
low for I-Tech in its underlying stage as innovative information is required by the
organizations for effectively working inside this industry (Tashakor, Pittenger and
Hagans, 2020). This has expanded the test for V-connect throughout time, putting
pressure upon it to use the separation technique. The main reason behind low threat of
new entrants is that there is a requirement of huge funds for entering the smart phone
market. Thus, it is not possible for every person to invest huge capital and enter the
respective market area.
 Competitive Rivalry – It is considered as factor which shows that competition of a
company at the marketplace. In respect of V-connect they may face high competitive
rivalry because at the marketplace there are several companies who offer advance level
smart phone. For V-connect it is essential to develop as well as adopt new innovative
technology in regular manner so that they can attract more and more customers at the
market place. In addition to this, it will also help in gaining high competitive advantage at
market.
Market Share -
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For any business, market shares indeed a key element. The core of the business will still
be pounded. Analyzing market share lets managers focus on the performance of the company.
When executives consider share of market in making assessments, their predictions are much
more reliable than if other variables are used. Many academicians said that the company's market
share is key to a successful business. Compared with companies that operate in a closely related
industry, market proportion is regarded as strength of the company. Within V-connect Business
this initiative would help to learn their market share. It helps manager to make friendly choices
about how to start serving their customers. The company's progress itself to its competitors.
Whether upwards or downwards, the company must know the patterns of all its share of market.
Market share may be characterized as the overall revenue of one business or products in a given
area managed by respective group. The company wants market share as it demonstrates the
profitability of a company in a specific industry. Market share allows firms to assess whether or
not change is being made. The Netherlands, like in context of V-Connect, is largest private
market in category of 384000 aggregate demanded units and a constant decline of
around 319334.4 units. While the total demand in market for the Belgian sector fell to
around 432000 by year 2020, it fell to approx. 359251.2 in year 2029. France is now expected to
have a demand of around 1,500,000 by 2020 and around 2, 47400 by year 2029. The corporation
now focuses on the Dutch market. Over almost every continent in coming years, the demand
for company's items will decrease drastically, now here, in certain segments, company sales are
relatively small, showing that it does not fulfill long-term demands. In attempt to increase its
market-area or market sharing, the company can focus on increasing the customer's accessibility
of phones. In improving economies where rivalry is lesser,
changes/shift in market share percentage will have an even greater impact on the profitability of
firms. Changes in the market share percentage in these economies, by contrast, have no impact
on business. The whole trick tends to grow in business sector, so, even if it loses market position,
it will continue to increase sales. Throughout this instance, sales average productivity affects the
financials performance of companies more than other attributes.
Product/ price analysis -
The study/analysis of the products includes determining the specifications, prices,
standard quality, cost, look as well as other aspects of the brand. Potential buyers, sales staff and
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verification portals for 3rd parties organise product testing/analysis or product research. The
bargaining of prices is way to decide that the negotiated price for products is fair and rational,
without considering the seller 's real estimates of costs and benefits. It is primarily a price
approach that fits the rationality metrics that are created. As with product / price analysis in
context of V-Connect, demands for Netherland retail prices in year 2020 is around 1800 000 as
well while demands for quality aspects is 240000, which reached in 2029, at around 1590435
and 199584 respectively. In the Belgium demand is around 1500 000, whereas the price
linked demands is about 600 000 for 2020, which is around 1325362.5 and 498960
simultaneously for 2029. That volume of demand is approx 600000 in the Belgium. Through its
third as well as biggest area, which is to say France's output demands are 1080000, while the
price linked demand is around 2040000 in year-2020, which in 2029 was met respectively by
around 898128 and 1802493 and through a downward trend. The cumulative results demonstrate
that business demand size has deteriorated over the timeframe throughout all major markets.
Enterprise will aim to establish successful pricing policy and product consistency. In certain
cases, the exact structure of the demanding rows is nearly impossible to determine. Also there
several ways of quantifying the exposure of customers to alternatives. Of this function, it could
be utilized of evaluating relations. It could be appropriate to examine prices and
quantities historical records. The company will thus focus solely on improved productivity of its
devices and on reducing the prices of its items through exhaustive examination in an attempt to
increase profits and sales.
Competitors -
It is important for the an business firm to gather or collect information as well as data
related to competitors which are inside the concerned business in order to making and executing
viable systems according to the requirement. In relation of V-connect, competitors are the other
team member in group of company. There are several major or important steps are taken by
administration of V-connect Company so they will be able to gain competitive advantages within
market are in effective manner. Such practices will provide assistance to business firm in
building positive image within the eyes of clients as well as adjust as per the prerequisites of
market.
Competencies and capabilities -
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When an corporate entity conduct their activities within marketplace then for them it is
important for them to implement suitable competencies as well as capabilities for growth and
development of business firm. With the help and utilization of these an association will ensure
that it will ready to adapt up to all the complexities which may develop inside the limits of
commercial centre in future course of time. Also, with detail of V-connect, it has been
distinguished that particular enterprise have a few abilities and skills. Since these assume
significant job in compelling execution of tasks as indicated by the necessity. Description of
these in detailed manner are mention below :-
 High share of market – At current it has been determined that V Connect is conducting
their business operations within range of country. This goes about as one of the most
unmistakable skills helping the element in blowing up its scope among the individuals.
Subsequently, the firm will have the option to give its contributions as far as cell phones
to bigger base of crowd over the globe. By serving an enormous territory of commercial
centre, this mobile company trying to enhance their incomes as well as revenue over the
long run, for gaining competitive advantages within market place in which company
conducting their operations.
 High product demand–As per the data, it has been identified that the interest of the
smart phones offered by V-connect is high inside the limits of the considerable number of
country inside that the company will in general work. By providing better offerings
respective smart phone company will be able to attract large number of customers in
more effective manner without facing any difficulties and make them loyal part of
company.
Performance results
Analysis of financial data -
Income statements: The examination/analysis of the income statements involves reviewing
several elements in statement and even evaluating common trends of some products numerous
times over. This analysis uses account of the cost system of company and its financial
performance. Although the information provided is indeed very limited, a significant amount of
useful insight could be gained from this to help grasp a group's latest business results, thereby
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predicting its opportunities. In this way, it is important for consumers to have a clear sense of
context throughout every income statement.
The review of the income statement involves the study of several line items in the report, as well
as the evaluation of trend trends in individual products that have been observed many times. This
work is used to understand the cost structure of a product, as well as the ability to generate a
profit. Therefore, although the data contained in this assertion is relatively simplistic, a lot of
useful information can be drawn from it to help grasp the organization's recent financial
performance so as to construct an assessment of its future. Throughout this respect, any effort to
include facts on the income statement is important for consumers to provide a clear
understanding of the historical condition. As in the case of the V-Connect income statements, the
group's revenues in year 2020 are € 575.436.732,00 which reached to € 429.043.898,00, €
500.259.518,00, € 313.738.646,00, € 353.312.190,00, € 665.691.868,00, € 955.841.654,00, €
1.113.593.976,00, € 653.326.466,00 and € 483.106.511,00 respectively in 2029, 2028, 2027,
2026, 2025, 2024, 2023, 2022 and 2021.While the group's gross profit amounts to €
101.451.847,00 in year 2020, which amounts to € 240.814.562,99,€ 263.139.325,44, €
50.347.586,84, € 41.717.177,80, € 11.351.150,09, € -4.780.627,83, € 293.130.240,69, €
152.707.681,48 and € 95.478.497,71 in the period 2029, 2028, 2027, 2026, 2025, 2024, 2023,
2022 and 2021 respectively. It shows that gross profit level is rising after
2022.Moreover, company's overall net profits amounts to € -853.186.092,99, € -732.837.617,76,
€ -790.704.092,84, € -703.589.141,71, € -687.461.176,35, € -647.630.906,97, € -222.799.589,96,
€ -257.884.408,59, € -101.990.070,44 and € -70.683.861,25, respectively, for 2029, 2028, 2027,
2026, 2025, 2024, 2023, 2022, 2021 and 2020. After this, an overall review of V-Connect’s
income statement demonstrates that group is constantly incurring deficits over the whole period.
It indicates the financial fitness of the enterprise is not stable.
Balance Sheet -
The balance sheet assessment can be described as a property analysis, total liabilities and
business resources. This analysis / examination usually takes place at a certain time line, like the
annualized basis. In order to determine precise actions of the operating profits, assets and current
debt, analysts are using the balance sheet analytical tool. In the financial statements of V-
Connect in 2019, gross cash-funds are estimated to be approximately in the same year. The gross
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liabilities, however, will be roughly 519487. That same years, the group stated a fixed
assets figure of €1700 000. Due largely to around 2100000 deposits, overall cash increased to
513591660 by 2020.It indicates that the working capital status of the company has rising over the
course of the year. This reflects that perhaps the position of the group's working capital level has
improved year over year. The very same projections for 2021 showed that the profitability
of sector decreased this year, also as cumulative cash of company, which had been more than
45951711, deteriorated. This year, company's combined assets and liabilities sum to somewhere
around €432909556. Towards this year, 12619675 attributed the loan and other long-
terms bonds. Clear evidence shows that these asset and liability rates have decreased steadily
from the 2019 to 2029.The company's equities have not been shifted throughout the period, but
entire liabilities and assets have continued to increase and decline.
Cash Flow statements -
The analysis/evaluation of a Cash Flow report/statement is a measure of cash-funds influxes by
revenues, borrowings and expenditure as well as certain other elements. That is an overall
description of how company gets its money, where it arrives through and whether it does with
the product 's profits. Cash Flow analysis/evaluation is a way that companies evaluate how often
cash those that have produced and determine the cost of particular organizations and local units.
Cash Flow assessment and evaluation generally use cash flows report that reflects the entire
section of cash group receive and spend over period, as well as several other outcomes. As with
V-connect, total cash incomes reported by group are € 1.292.391.095,98 , € 1.228.727.979,19, €
1.114.518.712,43, € 1.096.142.387,23 , € 1.379.725.407,88 , € 1.615.518.857,05 , €
1.329.416.848,72, € 644.570.082,85, € 490.390.271,00 and € 526.772.594,00 respectively
in periods 2029, 2028, 2027, 2026, 2025, 2024, 2023, 2022, 2021 and 2020. The gross cash
expenditures of the Group is EUR € 1.287.391.095,98, € 1.223.727.979,19, € 1.109.518.712,43,
€ 1.091.142.387,23, € 1.374.725.407,88 , € 1.610.518.857,05, € 1.324.416.848,72, €
927.620.980,07, € 608.534.089,53 and € 634.564.878,25 respectively for 2029, 2028, 2027,
2026, 2025, 2024, 2023, 2022, 2021 and 2020. The following analysis shows that overall cash
revenues of the group have continuously increased and also that aggregate cash expenses of the
business too have continuously increased. The cash flow or liquidity condition of group is
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not strong, as income is smaller in proportion to overall cash expenditures, which may contribute
to an unfavorable cash flow condition.
Future plan and recommendation
On the basis of analysis business performance of V-Connect, it can be said that the
business firm from sometime performance of company get weak. In addition to this, for
corporate entities it become essential to implement suitable strategy by that an business firm can
accomplish competitive advantages as well as long term sustainability. In relation of this, future
plans along with the recommendation for next 5 years are discussed below:-
 It has been recommended to V-Connect that they have to conduct market research on
timely basis for analysing as well as gaining opportunities which will provide assistance
to business firm in grabbing huge attention of several customers and fulfilling demand in
required time period.
Recommendation – In relation of conducting research it has been recommended to V-Connect
they should have to hire well trained employees who are having good research skills. So that
they will be able to determined growth prosperity for business firm.
 Also, it is proposed that V-connect in 5 years should have to take initiatives for
enhancing profitability and capacity. So they will be able to do huge production and fulfil
customers demand in effective manner.
 For the increasing production capacity, it has been suggested to V-connect that they have
to utilize sound technologies or product development strategy in order to elevate the
number of units produced through a business firm.
PART B – Professional development Reflection Report
Executive summary
Personal development can be described as the learning process of an individual that is
significant in enhancing various skills and potential. This reflective account information about
the individual learning in a team stimulation business that is V- connect. Information gain true
this will support in academic and professional development as well as help in conducting
required task in better and effective manner. Selected company is a newly developed phone
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venture that is focusing on providing high quality smart phone that will lead to full fill the needs
and requirement of customers. In this reflective report information about professional
development and different aspects which is learned in MBA course is determined and evaluated.
This is significant in enhancing various skills to work in a team and timely completion of
required task.
Introduction
Personal development is refer as the process which is consider by a person in order to
develop and enhance different types of skills and capabilities of a person. This is one of the
significant practice which will support perform to increase their capability and potential to
conduct required task in better and effective manner (Bloom and et.al., 2018). Personal
development start form creation of aims and objective which is significant providing guideline
according to which all task and activities of personal development will be performed. In these
different employability skills, talents potential and consciousness to attain set goals is enhanced.
While working in this team I have learned different things and aspects that is significant in
improving my capability to perform task in better manner. In MBA course I have gain more
theoretical knowledge and information and in this project I was able to apply theoretical
knowledge into practical form. This lead to increase my potential and strength to conduct
required task in better and creative manner (Kolackova, Krejci and Ticha, 2017). Working in
an effective team lead to enhance my team work skills which is essential for my academic and
professional learning capabilities. This experience will provide assistance to my capability as
well as efficiency to perform required task in better manner.
Identified events
There are wide ranges of events that are being determined by me while delivering my
services in team that have been formulated by leaders and they also furnish guidelines for
accomplishment of success of event as well as ensure that growth is being attained (DiPaola and
Wagner, 2018). The certain events are specified below:
Leadership conference: Leaders from different firms came and demonstrated their
thoughts with respect to peculiar subject matter. In this context, leaders have provided in depth
insight into simulation along with related facts so that better understanding can be developed.
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Apart from this, leaders who belong to simulation environment will be participating in event and
share their experience associated with team management to motivate their audiences.
Furthermore, by attending leadership conference, assistance will be provided to me for
development of confidence levels as well as motivation that will aid me render my
responsibilities in an affirmative manner (Farrell, 2015).
Communication workshop: While working as a team, interaction has crucial role as this
is necessary to have a channel through which two ways communication can be carried out. This
will enable data and information to be communicated or shared with each team member in an
effectual way. Various experts who are from stimulated environment share their opinions as well
as views. Within, communication workshop, it will provide a platform to me as well as entire
team to have an opportunity through which communication can be carried out with experts. In
addition to this, this also leads to enhancement of knowledge as well as understanding in context
of overall concept of simulation.
Review of relevant concepts or theories
Theories can be associated with set of systematic beliefs as well as principles that depicts
and guide within carrying out analysis of relevant subject matter. Some theories which I have
acknowledged while working within team of simulated business that is named Lexo are provided
beneath.
Situational leadership theory: Business environment are vibrant or dynamic within
mature that leads ample of alterations and creates broad influence on the ways in which firm
render their services (Grant, 2016). Situational leadership theory refers to one which illustrates
that as such there exists no ideal style of leadership for each situation. Thus, leader needs to alter
their style as per situations that prevail within. In other words, it can be illustrated that, within
this theory emphasis is laid on decision making that will be implemented via leaders in Lexo.
Theory of reasoned actions: This define links that is liable for underlining certain set of
attitude, beliefs, behavior and many more aspects associated with distinct individuals. Along
with this, theory is dependent on A-B relation in which A illustrates attitude and the other aspect
i.e. B depicts their behavior (Han, Hao and Huang, 2018). With reference to reasoned theory,
individuals behavior is being characterized via intent of peculiar individual with respect to their
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implementation. In addition to this, intent is ascertained via ways of subjective norms, attitude,
skills and various other aspects.
Review of industrial practices
Lexo is a firm which provides their customers with smart phone but they do not
manufacture these by themselves. Phones are being developed in Asia with a license from Lexo
and they are entirely dependent on quality that is demanded as well as features developed by
research and development department of relevant firm (Iyamu, Nehemia-Maletzky and Shaanika,
2016). The organization is building up their generic competitive strategies for attainment of
competitive edge in relevant market area. There exist various strategies that are being opted by
Lexo, they are product leadership, customer focus, cost leadership and many more. These
business organizations utilize efficacious marketing strategies for attainment of attention from
people in marketplace. Furthermore, the firm has opted to make use of recent technologies along
with strategies through which they can ensure timely attainment of demands of market and
customers in more precise manner.
Application of theory as well as practices
There are various theories along with concepts that can be implemented by Lexo
Company in their working structure. They are specified beneath:
Theory of reasoned actions: This theory is being executed by Lexo to determine or
analyze their relationship among attitude as well as behavioral conduct of peculiar individual in
team. The theory of reasoned actions was utilized by me to have relevant knowledge associated
with distinct viewpoints that are being given by group members. Along with this, applications of
this theory will aid team within having concise conclusion through which group members can
have enhanced attitude along with pattern of behavior in same context.
Situational leadership theory: This theory has to be applied within boundary of Lexo.
With reference to organization, the pioneer has chosen authoritative style to deal with present
condition related with concerned industry and commercial center (Jang and Lee, 2016). As a
pioneer in the group, I have made use of hypothesis for choosing the initiative style that is
reasonable to deal with particular occasion. With reference to this, I had a wide scope while
working in distinguished environment that lead me act in distinct situations in unlike manners.
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For an instance, administration style will be applied by me in case any kind of emergency
contentions emerges among individuals who are from distinct groups. This can lead to issues
related with coordination and sync among individuals those have gathered. It illustrates that by
making use of hypothesis expert character has been improvised as a pioneer. This also outfit me
with adequate information with respect to administration styles which can be implemented
within altering situational settings.
The application of industrial practices in Lexo company are as follows :-
According to member of Lexo firm execution of these practices, competitive edge is
being utilized by respective smart phone firm. Irrespective of this, I have opted to make use of
market research for acknowledging needs, demands, wants, preferences and various aspects that
customers are looking forward for. Such practice leads within facilitating development of firm in
different manner and have their unique positioning in the competitive marketplace (Marciniak,
and Jarzębowicz, 2017).
Discussion
Smartphone firm Lexo do not furnish their devices by themselves. Phones are being
furnished by Asia by license attained under Lexo and this is dependent on demanded as well as
features that are being formulated by research and development department of particular firm.
United States of America’s Sales income is €29.640.150,00, cost of stock sold €23.661.744,75,
gross margin €5.600.000,00, market expenses €5.600,000,00. Moreover, Lexo in Australia have
Sales income €63.375.840,00, cost of stock sold €68.837.421,70, Gross margin €-5.461.581,70,
Market expenses €19.280.000,00. In Canada Lexo Sales income is €5.449.928,00, cost of stock
sold €5.250.106,04, gross margin €199.821,96, market expenses €15.730,000,00. In addition to
this, in India Sales income is €52.007.400,00, cost of stock sold €93.204.813,59, gross margin €-
41.197.413,59, market expenses €11.380,000,00. In the end in United Kingdom sales income
€113.415.085,00, cost of stock sold €73.760.794,04, Gross margin €39.654,290,96, market
expenses €20.040.000,00.
Recommendation for practice and research
From above analysis wide range of recommendations can be provided to Lexo with
respect to research as well as practices. They are specified beneath:
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 The foremost suggestion for Lexo is that they must execute technologies that will aid
them within enhancement of overall capacity of organization and acknowledge demands
of their probable customers in relevant way in market place. With respect to this, it is
suggested that Lexo can make use of automation software through which processes can
be fasten as well as make sure that marketing demands can be attained in an effectual
manner.
 Lexo needs to focus on networking and carrying out precise market research through
which relevant knowledge associated with emerging market or opportunities can be
attained by them within the boundaries of smartphones industry and have leverage to
attain enhanced profitability.
 Lexo must formulate precise and sound marketing strategies that will enable them to grab
attention of enhanced number of population in an effectual manner. They can opt for
digital marketing campaigns as at present scenario people are open to such kind of
activities.
CONCLUSION
From the above report, it can be concluded that business simulation can be helpful for an
organization in many ways. This is because incorporating business simulation games can help in
developing effective business strategy so that overall performance of the business can be
improved. Also, participants can get a better understanding of theoretical concepts and therefore,
learn at their own pace. Simulation games involve different elements of competition, cooperation
and decision making along with feedback. This leads to an increase in overall performance of not
only the business but participants as well. And they can get a chance to build critical skills within
a realistic environment. Simulations allow learners to work together so that best results can be
achieved. This is because they get a chance to interact and learn different things from each other
which is not possible through reading about a particular technique or fact. Apart from this,
decisions can be made without any kind of risk and this is also because the time available in a
business simulation is limited. Therefore, organizations should include business simulation
games within their system to enhance overall performance as well as productivity and gain
competitive advantage.
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