SG7003 Business Simulation Report: Evaluation and Development

This report provides a comprehensive analysis of a business simulation, focusing on the performance of Super Iconic. The report is divided into two parts: Part A evaluates the simulation, including the company's vision, strategy, performance reviews, competitive analysis using Porter's Five Forces, and financial data. It assesses the internal capabilities through a SWOT analysis and evaluates the company's actual performance against targets. Part B is a professional development reflection report, reviewing relevant theories, industry concepts, and providing recommendations. The report covers HR practices, organizational culture, and strategic decisions, offering insights into the company's market share, competitor analysis, and future plans. It also includes a reflection on personal development within the simulation context, connecting theory with practical application and providing recommendations for future practice and research. The report aims to provide a thorough evaluation of the simulation experience and its impact on professional development.

SG7003 Business Simulation with
Professional Development

Table of Contents
Part A: Simulation Evaluation.........................................................................................................4
INTRODUCTION...........................................................................................................................4
Vision and Strategy .........................................................................................................................4
Performance review.........................................................................................................................6
Competitive analysis...................................................................................................................6
Simulation Performance Results.................................................................................................8
Performance Analysis...............................................................................................................10
Future Plans and recommendations..........................................................................................10
Part B – Professional development reflection report ....................................................................11
Executive summary ..................................................................................................................11
Introduction ..............................................................................................................................11
Identified events .......................................................................................................................12
Reflection theories ...................................................................................................................13
Review of industrial practices...................................................................................................14
Application of theory as well as practice .................................................................................15
Recommendations for practice and research ...........................................................................16
CONCLUSION .............................................................................................................................17
REFERENCES..............................................................................................................................18

Part A: Simulation Evaluation
INTRODUCTION
Business simulation can be defined as a simulation that is generally used for training and
education purposes. It can help in learning theoretical concepts in an enhanced way. Also, there
is an increase in the student engagement and they are able to retain their knowledge for a longer
period of time. There are many benefits of business simulation like, the decision making and
teamwork skills of the students are improved. Business simulation not only helps in increasing
the overall knowledge about a particular theoretical topic (Bindon, 2017). Not only this, business
simulation can also enable an organisation in improving its overall productivity as well as
performance in the industry. This leads to more informed and structured decisions taking place
along with an increase in the overall profitability. The respective report is based on business
simulation and will help in enhancing overall knowledge about the same.
Organisation chosen for this report is Super Iconic and the report provides a brief
description of vision and strategy. It also includes an explanation of the performance review as
well as future plans. Recommendations are also included in the report in order to provide a better
understanding. The report includes an analysis of the competition with the help of Porter's Five
forces Model. An explanation of the market share, competitors as well as internal capabilities of
the company are also included to provide a better understanding about the company's
performance. Apart from this, the performance analysis includes an evaluation of the strategy,
decisions as well as the different departments of the company (Bosch-Sijtsema, Gluch and Sezer,
2019). These departments include marketing, product development, finance and human
resources. The future plans of the company based on the performance analysis is also included in
the report. This will help the company in growing its business operations across different
geographic locations. A professional development reflection report is also included in the report.
There is a review of different relevant theories and industry concepts. A discussion on the same
along with recommendations is a part of the respective report to facilitate better understanding.
Vision and Strategy
Vision can be defined as a statement that informs the customers about how a company
views a future. It explains what a company wants to achieve in order to enhance its growth in the

market. A good vision statement is always short and easy to understand. The vision of the
respective company is - “To build a sustainable future and secure the personal data of
customers.” On the other hand, strategy plays an important role and helps a business in achieving
its goals and objectives in an effective way. Super Iconic can adopt any of the four strategies,
which can include diversification, product, development, market penetration and market
development.
The company has decided to adopt the strategy of product development, wherein it will
develop new products for its existing markets (Gatti, Ulrich and Seele, 2019). The company
determines that how can it serve its existing customers in a better way and how can the products
be enhanced so that they stand out from competitors. Adopting this strategy will help the
company in gaining new customers as well as satisfying the needs of existing customers. The
company will also adopt the strategy of cost leadership, wherein it will offer best quality
products at affordable rates in the market. Here, the min aim of the company will be reduce any
unnecessary costs and only focus on the necessities. As a result, the profitability of the company
will increase and it will be able to survive in a highly competitive market.
Human Resources
As far as Human Resources is concerned, the maximum work load of each employee is
110%. The company also provides rewards to the employees in the form of increased
remuneration and bonuses. The recruitment is done globally and once the new hires join the
company, they undergo an on boarding program. The HR department of an organisation is
responsible for building a positive working environment within the workplace so that the
employees are able perform in an effective manner and produce desired results. The HR
department of respective company has decided to buy a human capital management support
system. It will help in managing all the different HR processes (George and Sanders, 2017).
Currently, nearly 10% of the company's staff is performing effectively, while 80% is performing
on target. The HR department of the company has decided to develop a program that will mainly
aim towards developing high potentials among the employees. Apart from this, mandatory
internal courses as well as coaching programs will also be developed.
Culture
The organisational culture of is such that the employees are always supportive of each
other. There are different divisions and each division has different responsibilities. The

employees have an expertise in their respective areas and the company also focuses on practising
corporate social responsibilities. This is because the company is aimed towards reducing its
overall carbon footprint in the environment. It will not only be beneficial for the company, but
also for the environment. Apart from this, the managers are always open to meeting different
clients in order to build networks. Also, the employees are encouraged to share their inputs
during the decision making process. As a result, they have a sense of belonging and perform
more efficiently.
Performance review
Competitive analysis
It refers to an analysis of the strengths, weakness and overall performance of the
competitors. This helps in identifying any new opportunities as well as potential threats that can
have an impact on the overall productivity and performance of the company.
Porter's five Forces Model
It is referred to as an analysis model that explains different threats which can have a
potential impact on the business operations of the company (Harper and Bindon, 2020). The
model is described below for Super Iconic.
Threat of New Entrants – This is a weak force because the company has been
previously ranked at number 4. So, if any new entrant enters the market with similar products, it
will have to invest a large amount.
Bargaining Power of Suppliers – This is a weak force because there are many suppliers
available from whom the company can get its raw material supplied. So, suppliers have a less
negotiating power.
Bargaining Power of Buyers – The buyers possess a high bargaining power because
their preferences keep on changing and there are other brands in the market that offer similar
products (Hernández-Lara, Perera-Lluna and Serradell-López, 2019). To retain its existing
customers, the company should focus on implementing advanced technology in its products.
Threat of Substitute Products – This is relatively strong force because a competitor of
the company can offer substitute products that are better in quality and are affordable. In order to
reduce this particular force, it is important for Super Iconic to hire staff that is highly skilled and
has relevant experience.

Rivalry Among Existing Competitors – If the rivalry among existing competitors will
continue to exist, both the company as well as its competitors will not be able to serve the
customers in an effective way. In order to reduce this force, the company can partner up with an
existing competitors or conduct a market research.
Market Choice/Share
The market choice of Super Iconic is to offer products of lowest prices within the market.
The position of the company based on the market share as well as marke6t segments that are
quality oriented is average.
Internal Capabilities and Industry Trends
Internal Capabilities of a company can be referred to as the ability of a company to
transform the inputs into useful outputs. The company is basically into manufacturing high
quality smartphones (Lee, Longhurst and Campbell, 2017). Currently, the Research and
Development department of Super Iconic has 55 employees. They are responsible for
researching different improved processes so that the overall features can be enhanced. As of
now, the company has a budget of 41,250,000 euros and if there is any reduction in the same, the
effectiveness of the products will drop to 85%. The demand for smartphones is high in the
industry and the company can increase its production in order to enhance its sales. The internal
capabilities of the company can be better understood through a SWOT analysis.
SWOT Analysis
It is a strategic tool that is used by organisations as well as individuals to understand their
strengths, weaknesses, various opportunities as well as potential threats that can have an impact
on the overall performance. It can helps in developing effective strategies and making informed
decisions. The SWOT analysis of Super Iconic is as follows -
Strengths – One of the strengths of Super Iconic is that its smartphones use advanced
technology (Lin, Yen and Wang, 2018). Also, all the products are based on innovative ideas as
the research development department is always looking for processes that can help it in
developing products that attract customers. Lastly, the overall management of the production
process is done effectively.
Weaknesses – Weaknesses of the respective company include the managing skills of the
team leaders. They are not able to manage different tasks that are assigned to them. Although,

technology is one of the strengths of the company, some of its products still have issues with the
same.
Opportunities – There is an opportunity of increasing overall sales by increasing the
production of the products. This can help the company in growing its business and attracting a
greater number of customers.
Threats – One of the major threats that can impact the overall performance of the
company in the market can include the misuse of data. If the data is used in an illegal way, the
company will have to deal with the negative consequences. Also, there is a potential threat of
scams.
Therefore, this was an analysis of the internal capabilities of the respective company as to
how can it avail different business opportunities and increase overall profitability.
Actual performance against targets
The current performance of the company is good as it has implemented advanced
technology in to its products. Not only this, the research and development department has
included different innovative ideas in order to attract the customers (Qian and et. al., 2018).
Lastly, the product management of Super Iconic is also very good as compared to the
competitors. One of the targets of the respective company is to enhance its profitability as well as
generate a high revenue. This is important for the company in order to run its business properly.
Also, since the company is targets to offer lowest possible prices for its products, it is currently
performing fairly good. But still, the overall current performance of Super Iconic against its
target is average and it needs to work on the same.
Simulation Performance Results
Financial Data Analysis
Analysis of the financial data involves studying the different items that are involved in a
business. The analysis helps in determining if the company has been making profits or is running
into loss. By analysing the financial data, useful insights have been drawn which can help in
understanding the current performance of the company.
Balance sheet- This is defined as a type of statement that consists information about company’s
total assets and liabilities at the end of a financial year. By help of it, managers of companies
take suitable actions in regards to financial aspects. In regards to Super Iconic company, this can
be find out that in year 2019, there is no current assets because it is an initial year though, there

was current liabilities in the form of loan of 1000 Euros. In year 2020, their current assets raised
in the form of stock and accounts receivables whose value was around 643700 and 30003600
Euro respectively. While in this year, their current liabilities were of 1188040 and 19314818
Euro in form of loan and accounts payable. From year 2019 to 2022, overall total assets of
company were raised year by year such as from year 2019-22 it was of € 521.187.000,00,
€ 572.861.360,94, € 577.094.517,25, € 552.170.948,81 respectively. But after year 2022, the
value of total assets starts to decrease and became of € 431.586.385,86 in year 2025. One notable
thing in all years is that their current assets were higher as compared to current liabilities that is
good sign of liquidity position. Below a graph is presented that consists information about
current assets and liabilities from year 2020 to 2025 in such manner:
Income statement- It is defined as a type of statement that is prepared in order to find out amount
of net profit and loss at the end of a financial year. In the context of above Super Iconic
company, this can be find out that they are not able to generate profits after year 2021. Like in
year 2020, their net profit was of € 32.536.939,84 that reduced and became of € 20.998.125,90 in
year 2021. It was the last year when company generated profit and after this year their income
statement was producing following outcome from year 2022 to 2025: € -19.986.357,75, € -
34.762.450,05, € -40.328.169,20, € -45.402.647,90. These all figures are showing a trend that
value of net loss is increasing year by year from huge margin. The reason behind this poor
performance is that their cost of sales is too higher as compared to total revenues in above

mentioned years. Below a chart is presented that shows company’s net loss and profit in different
years:
Cash flow statement- It is a type of statement that shows company’s cash position in a particular
accounting year. This provides detailed information about total expenses and cash receipts whose
difference is considered as net surplus. Herein, a detailed summary of total income is mentioned
from 2020-25 that is as: € 293.372.800,00, € 144.051.545,00, € 95.652.553,00, € 65.706.690,00,
€ 89.272.127,00, € 93.611.723,00. Along with their total expenses are as for similar time period:
€ 292.264.539,06, € 155.262.421,78, € 145.129.120,34, € 122.473.174,62, € 144.858.635,46,
€ 146.615.839,90. From these data, this can be stated that company had negative outcome
almost in each year. Their net surplus or deficit as from year 2020-25: €110826094, €-
1121087678, €-4947656734, €-5676648462, €-5558650846 and €-5300411690. These figures
are showing that company is unable to perform well in all years except year 2020 because there
is net deficit in all years. The reason behind this poor performance is lack of control over
expenses. Below a chart is presented that shows company’s net surplus and deficit in different
years:

Ratio analysis- It can be defined as a type of technique in which various kinds of ratios are used
in order to assess a company’s performance. This depends on companies’ that which types of
ratio they implement to analyze their financial performance. In the context of Super iconic
company, some key ratios are interpreted in such manner:
Return on assets ratio- It is a form of ratio which is computed with an aim of determining value
of return on a particular asset. From year 2019 to 2025, above company’s performance is as
follows in regards to this ratio:
Year 2019 2020 2021 2022 2023 2024 2025
Return
on assets
turnover
ratio
0% 5.95% 3.65% -3.54% -6.51% -8.11% -9.98%

Analysis: The above graph is showing that company has generated return on assets in year 2020
of 5.95% that started to reduce after next year and became of 3.65% in year 2021. While in
following years, company was unable to produce positive return as from year 2022 to 2025, their
ratio was as: -3.54%, -6.51%, -8.11% and -9.98%. The reason behind this poor performance is
lower net sales as compared to higher purchasing of assets.
Return on equity ratio: This ratio is used to find out value of return on each equity so that
investors can determine about whether they should make invest or not. From year 2019 to 2025,
above company’s performance is as follows in regards to this ratio:
Year 2019 2020 2021 2022 2023 2024 2025
Return
on equity
ratio
0% 6.20% 3.82% -3.56% -6.55% -8.19% -10.12%

Analysis- This line chart is an indication of poor performance of Super iconic company. This
company failed to generate positive return since 2022 as their ratio was showing negative return
which is a sign of loss to company on equities. The reason of this ineffective performance can be
volume of higher debts in these years as compared to investment by investors in company.
Performance analysis
From above done analysis of various financial aspect of Super Iconic company, this can
be stated that each statement is showing poor financial performance whether it is balance sheet
or income statement. In the aspect of balance sheet, this can be find out that company’s total
assets were decreasing in each year except from initial years. As well as company was facing net
loss in each year except year 2020. After this year, company’s profit and loss statement was
showing net loss. In addition to this, company’s cash position is also poor due to higher amount
of expenses. As there are less number of activities which are generating cash for company. Due
to this, company faced net deficit. Along with, return on assets and equity ratios were also
negative after two years from start. So overall company’s performance is poor and need to be
improve as soon as possible.
It can be seen that the demand for the company's products is growing constantly, but it not being
able to fulfil the same. Therefore, in order to meet the demands, Super Iconic will have to
develop a business plan and ensure that it is being followed at all times. The plan will help the
company in conducting its business operations effectively (Todd, 2020). Also, the company has

been facing intense competition due to which its overall performance is getting affected. Another
reason why the company's performance against competitors is getting affected is that it is not
able to fulfil the demands of the customers. As far as marketing department is concerned, it has
set a very low budget. It can be said that if the company increases its overall budget, it will be
able to carry out the marketing campaign for its products in an effective way. This is important
because the company will be able to increase the overall brand awareness among customers.
Apart from this, the company has taken a loan of € 1.000.000,00, but there are no current
applications of the same. The interest rate on the current loan is 2%. On analysis, it has also been
found that there is a work load of 110% on all the employees, but rewards offered to them is only
3.2%. So, if the company wants to increase the productivity as well as motivation of its
employees, it will have to increase their remuneration (Xenakis, 2018). Another reason that has
been identified behind this is that the strategies being adopted by the company are ineffective.
Therefore, the company should revise its policies and strategies if it wants to continue its
business smoothly. One of the differences of the respective company from its competitors is that
it is focussed on offering high quality products at low and affordable prices.
Future Plans and recommendations
By analysing the current performance of the company, it can be said that it is not able to
perform effectively. This can lead to a negative impact on the overall business processes as well
as profitability. Therefore, Super Iconic should plan and develop strategies that will help it in
standing out from the competitors. There are some recommendations that the company should
adopt. Like, the marketing department of the company is recommended to undertake take an
extensive market research. It will help the company in understanding the performance of the
competitors. Also, in order to grow and expand its business, Super Iconic is recommended to
acquire an existing company in the market. This will help in increasing its overall profitability as
well as share in the market.

Part B – Professional development reflection report
Executive summary
Reflection is associated with an activity which includes writing own experience for a
particular situation. In the present report, the simulation business is of smartphone and the
company name is super iconic which is involved in selling of new technology smartphones
within market. The main reason for this business is to manage the needs and demands of
customers by providing them latest technology smartphones. This is a reflection report which
provides discussion about experience of an individual while working upon a business of
smartphone company. There are different topics covered for managing the business activities.
These are explained in terms of reflection in this report (Jung, and “Alison” 2017). There is
discussion about professional development of an individual. There is dealing of difference
among MBA setting and working within groups. Moreover, there is discussion about various
leadership styles and theories used for managing the business simulation activities. There is
explanation of industrial practices which are involved in properly positioning the business
simulation. There are recommendations provided at last of this report for professional
development of an individual.
Introduction
Professional development is defined as training, certification, education which an individual has
to posses for having a successful career. Every job has different type of skill and ability and this
can only be controlled by building professional development. This is very important for the
students conducting business simulation as it will provide help in analysing the activities which
have to be conducted when doing actual business in market. Professional development is
continuous learning process which is done by an individual for managing the purpose of having a
good brand value and reputation. There are different credentials of managing professional
development including degree, webinars, conferences, etc. While conducting the business
simulation, I have enhanced my knowledge in various theories and concepts. Business simulation
was a part of my MBS course ad I did my best to complete the project activities in given time
and budget. When I worked within group of five members for conducting the business
simulation, I have developed various skills and abilities. When I was working in the group
activity, I got to know more about using concepts in a practical manner. By using this degree and

applying practical use in different activities, I am able to do successful projects. I have grabbed
knowledge regarding various things while conducting the business simulation. The group activity
was related with the conduction of business simulation. This has helped in managing the
activities effectively and attaining assigned targets and goals (Jung, Chilton, and Valero, 2017).
While working in the group activity, I realised that it is effective to apply learning and
knowledge effectively and using it is practical life. I have experienced exposure to the business
simulation effectively and worked properly for attaining targets and goals in specified time.
Identified events
There are different factors which I have to face while working within groups. There are
various events and plans organised for managing success of projects. There are different
activities that I can conduct for managing the completion of business simulation effectively.
Some of these are described below -
Leadership conferences – There are different leadership conferences planned and
organised by the top executives in order to manage the functioning. This occurs when several
senior executives are collaboratively working and providing effective ideas and thoughts issues
related to the business simulation. There re various activities in which I have to indulge for
managing the activities and tasks of business simulation. There is need to have proper analysis
about topic of the project before working upon it. There are several events related with the
managing of views about the business simulation project. There is need for me to manage several
activities and tasks related to the simulation. There are various events that are involved in the
managing of skills and developing knowledge and skills. I have build confidence while working
effectively and managing the efficiency of work. I have presented my work properly in several
aspects of activities. The simulation activities are involved in enhancing competitive advantage
and conducting the project activities properly. This is concluded that there is development of
effective strategies used for developing vision, mission and corporate culture. This consists of
managing the business simulation activities in an effective manner so that business is conducted
in rightful manner.
Communication workshop – This provides me the support for attending various
stimulated business condition in which the company has to work for managing insights and
perspectives of the subject matter. The communication workshop is attended by me an this
helped me to develop skills and abilities of conducting a successful business project. I have

attended communication workshop and these helped me to manage the activities of business in
an effective manner. It is of utmost importance that am able to manage all project activities in
proper manner.
I have also developed financial analysis skills while managing the business simulation
group activity (Kumar, Rahman, and Chan, 2017). This helped me to manage the financial
aspect of completing the activities involved in the processing of business simulation. There are
different type of financial analysis involved in managing the work which includes evaluation of
balance sheets, cash flow and income flow chart. It is also concluded that there are various
aspects of conducting successful business such as market conditions, customer base,
competencies, pricing strategy, product quality, etc. This is evaluated and analysed that properly
for conducting proper work. There is also need for managing the project activities associated
with the business simulation. It is analysed that business is conducted effectively and proper
management is done for working in different areas and region of the project. By using the
business performance and activity, it is seen that goals ad objectives are attained in specified
time frame. This is effective in development of effective plan that are used for managing the
future planning of project. I have analysed and evaluated all the activities and tasks that are
included in the achieving of the goals and targets of project in given time frame. This is analysed
by me that I have good knowledge about finance and this has helped me to mange the business
activities. There s need to develop an effective plan for managing the success of project work.
There is need for managing the work and analysing that all activities are properly managed.
Reflection theories
There are different theories of reflection which are considered while managing the
conduction of any business project. Theories are mainly used for managing the project work
properly and analysing a step by step evaluation of the project activities. It is very essential for a
company to manage the functioning of business and meeting the assigned targets and goals.
There are some standards and regulations developed for managing the project activities and
accomplishing them effectively. There are several theories which I have examined in order to
complete different activities of business simulation. I was working with a group of five members
and it is important for me to develop skills that are available for managing the projects in an
effective manner.

Theory of reasoned action: According to this theory, there is general discussion of
reasoned actions which contribute to another factor. These are evaluated by on the basis of
persuasion and behavioural intention. According to this theory, main aspect is to analyse
behaviour of the person in managing different activities. Also, I have seen that while conducting
the business simulation project, I have worked with many team members. There was change in
my behaviour while managing different activities. It is seen that I have handled all activities with
patience and confidence (Le-Khac, And ET. Al. 2018). When there was addition of subjective
norms then I had to thought of various options like strengthening normative belief which
supports persuasive goals and reducing normative belief that complies for managing this goal.
Situational leadership theory: According to this leadership theory, it is concluded that
it is important to attain the targets and goals by managing the hypothesis in an effective manner.
There are different scenarios in which I have to work while managing the business simulation
project. It is very important for me to conduct various projects effectively and meet the
organisational goals. While conducting the business simulation I have analysed my skills
properly for managing the overall project effectively.
Behavioural leadership theory: According to this theory, there are scenarios in which
values and beliefs are considered for managing the work properly and attaining goals. This
theory says that leaders are developed and they are not born. This theory concludes that great
leaders are the ones who are involved in managing the effectiveness of project activities. This
theory says that anybody can become leader by analysing the skills and abilities for conducting
effective work. I have analysed that I have good leadership skills and these can be used for
completing the projects in specified time.
Review of industrial practices
Innovation: It is an industrial practise which is involved in the managing of business
project properly. If there are new innovations used within the business simulation then it is easy
to manage success of project. Customers are bored of same and monotonous products and
services. So, by adding new and creative ideas and concepts to the product, there is opportunity
for managing business projects effectively.
Competition: This is an essential factor which is linked with the strategies of other
company within the smartphone sector. I have analysed the smartphone industry for managing

the efficiency of product sold by super iconic company. This is an effective strategy used for
managing the business effectively.
Technology: It is seen that technology is one of the most effective factor for increasing
sales of any product or service. Thus, it is seen that new technology is used within various
products for managing profit of business. The smartphone manufactures adopt latest and smart
technologies for the purpose of fulfilling the required demands of the customer.
Application of theory as well as practice
The theories and practice that are put to force within Super iconic company are explained
beneath:-
Theory of reasoned action: This theory is related with the mindset that an individual is
having while managing any kind of business. In context of super iconic company, new
smartphones are developed for completing the project. The main aim of this theory is to manage
the working in an effective manner so that work is accomplished properly. There is need for
evaluating the success of company for managing the work and analysing various perspective of
business (Painter, and Martins, 2017). I have worked with many team members in order to
manage the functioning of the project activities. The industrial practice of technology is properly
managed and developed for conducting the business simulation properly.
Situational leadership theory: According to this theory, it is seen that there are managed
effectively in order to conduct the managing of resources and achieving organisational goals. I
have analysed that I am having good skills and knowledge that will help me to attain goals and
targets. I am the leader f team and it is my duty to assign targets to all members on the basis of
their capabilities. I have used this leadership style for managing different business situations. It is
important that this leadership style provides me help to manage the work properly and attain
goals. I have concluded that there are different communication ways I have used for completing
the work. There is need for gathering and maintaining proper maintenance of all project
activities as these are helpful to attain organisational goals. This leadership style is used by me in
managing and handling different activities in proper manner. From the above report, it can be
concluded that using business simulation in learning and training can help in enhancing the
ability of the students to be able to illustrate a particular theoretical concept in an effective way.
Not only this, it can also help in increasing the overall engagement of students and their
knowledge about a particular topic. Business simulation is an important part of the learning

process because it places the learner in a situation so that they can learn about important
concepts. The students get an opportunity to learn bout a particular market and the major players
in it. The learners are able to make decisions that are risk-free. They also get an opportunity to
work as part of a team and create a common culture for the participants.
It can also be concluded that a financial analysis can provide useful insights about the
performance of the company in the market. This is done by reviewing and evaluating the balance
sheets, income statements as well as cash flow statements of the company of the last few years.
Apart from this, there care certain other aspects that need to be analysed. This can include
customers, competitors, market share, internal capabilities etc. Analysing these aspects can help
in developing a better understanding of the topic as well as improve the overall business
performance. This contributes to the overall effectiveness of the business plan so that the goals
and objectives can be achieved in an effective manner. It is concluded that practice of
competition is used for managing various activities and tasks related to the market situations.
Behavioural Theory: According to this theory, I have evaluated that there is need of
proper planning and managing of business condition for working effectively. I have
collaboratively worked with my team members for managing the work in effective manner. I
have analysed and observed the behaviour of several great leaders in order to know how to
manage the working on projects. I have developed surrounding in which every individual is
focusing upon innovation so that goals are attained in specified time.
Recommendations for practice and research
It has been analysed from the above report that research has to be conducted effectively
for managing the work. There are following recommendations made for the new smartphone
business -
 The main action is for the business management in which several measures are embraced for
managing several project activities. It provides help in managing effectiveness of fulfilment
of customer's needs and demands. In context of Super iconic company, it is concluded that
there I need for managing the project activities in an effective manner. There is need of
managing the proper activities and tasks effectively so that work I managed properly. The
procedure of manufacturing of smartphones and along these lines guarantee ideal
achievement of requests of customers in the market place.

 It is recommended for the new smartphone business that it should adopt new and strategic
marketing and advertising plan. This will help in evaluating various factors if conducting a
successful business. This will also provide help in managing the effectiveness of smartphone
within market and knowing what are the needs and demands of customers.
 It is advised to the new smartphone company that it should involve in managing good
networking . This will help in conducting effective market surveys. Super Iconic can
expand its income by developing good networking. This will help in managing the work
properly and attaining success.
CONCLUSION
From the above report, it can be concluded that using business simulation in learning and
training can help in enhancing the ability of the students to be able to illustrate a particular
theoretical concept in an effective way. Not only this, it can also help in increasing the overall
engagement of students and their knowledge about a particular topic. Business simulation is an
important part of the learning process because it places the learner in a situation so that they can
learn about important concepts. The students get an opportunity to learn bout a particular market
and the major players in it. The learners are able to make decisions that are risk-free. They also
get an opportunity to work as part of a team and create a common culture for the participants.
It can also be concluded that a financial analysis can provide useful insights about the
performance of the company in the market. This is done by reviewing and evaluating the balance
sheets, income statements as well as cash flow statements of the company of the last few years.
Apart from this, there care certain other aspects that need to be analysed. This can include
customers, competitors, market share, internal capabilities etc. Analysing these aspects can help
in developing a better understanding of the topic as well as improve the overall business
performance. This contributes to the overall effectiveness of the business plan so that the goals
and objectives can be achieved in an effective manner.

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