Fundamental of Business: Thanos Corp Simulation Report

This report analyzes a business simulation activity conducted within Thanos Corp, a UK-based company. The simulation involved dividing the team into groups to analyze various aspects of the company, including business management, financial juggling, and customer understanding. The report utilizes the Gibbs reflection model to describe the team's experiences, from initial nervousness to increased comfort and, finally, uncertainty about the project's outcomes. The evaluation highlights the company's strong financial position, effective teamwork, and the importance of customer awareness. Challenges included issues with information technology adoption and entrepreneurial skills. The analysis suggests improvements in decision-making processes and the need for enhanced understanding of information technology and maintaining a positive attitude. The report concludes with a summary of the lessons learned and a proposed action plan for future simulations.

FUNDAMENTAL OF
BUSINESS
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
REFERENCES................................................................................................................................9
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INTRODUCTION
Gibbs reflection model is the framework which generally defines the experience gained by
the individual for taking part in any event. This report is based upon the business simulation
activity perform in the Thanos Corp. Company.
MAIN BODY
Description
We as a team was asked to analyze business simulation process of organization. Main
objective of the business is to help different customers in achieving the technological excellence
in the market. Thanos corp is a UK based company which was started by the Gentlemen called
Early Shaw in the year 2000. To complete the following task for Thanos Crop we were divided
into different groups and all groups were allotted with the different task to perform so that
different aspects of company’s life can be understand in the better way. There were variety of
different aspects was analyzed by the team member. Some of the examples of the aspects are
business management, juggling money, time, skills, stress and tiredness.
Feeling
Looking at the feeling possessed by the team members throughout the lifecycle of
business simulation model, it has been find out that we were asked to perform variety of
different activity which has taken us through variety of different feeling at the time of
conducting the project. Starting from the initial stage first, it has been identified that in the initial
stage all the team member was very nervous in general. Reason behind the same is that all the
team member were carrying out the different activities for the very first time, as no one in the
team was having any experience of carrying out such activities in past.
After the initial stage as the project progressed and we have reached the position of
analysing and sourcing the variety of the data to conduct the project we have find out that we
were more comfortable and satisfied in the project. Reason behind the same is that we have
started taking help of different tutor as well as senior in the project to understand the variety of
the different aspects of the task which need to be performed by us. At the same time in the
process of carrying out different activity there were variety of the situations has occurred in
which we were finding it really hard to find out \solution of the issue faced by team members but
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with the help of good team work we were finding solution in better way in the project. Hence we
were very comfortable with the project process.
At the time of finishing and we were at the last stage of the project it has been analysed
that we were very much unclear about the uncertainties which has to be faced by us project. It
has been find out that all the student was not clear in regards of outcome which has been derived
is efficient enough or not. There was confusion among individuals related to the outcome of the
project. As a result all individuals in the project have started panicking on some or the other
issue in the project. This is the time when all individuals in the project has taken help of
different senior in the organization which has eventually helped us in finishing the project of the
company in the better way, also it has assisted us in seeing better outcome of the project as well.
Evaluation
Looking and evaluating the varieties of the tasks which have been conducted in the
project it has been analysed that financial position of the business is very well in the market. Our
team has worked well in the team environment and all the individual has shown a good sort of
team working skills in the project. As a group it has been understood that there was good
juggling of money and salary as after initial 3 month organization has brought the varieties of
the changes in operation of business. At the same time another team in the project has identified
that Marketing function of company was not that proficient in the organization. Company was
having clear vision that understanding the customer is the only way through which company can
improve their performance. Reason behind the same is that customer understanding is the basis
on which different activities can be planned in the organization. For the same reason it was also
understood that they have decided to outsource marketing activity so that they can understand
the customer in the better way. Another thing which went well and help us in getting good sort
of the learning in regards of understanding the importance of problem solving and decision
making in the organization. This was understand with the help of problem solving skill as it has
helped the team in understanding that there are variety of the different decision which has been
taken by the management in the organization. This decision has ultimately helped the company
in seeing good result in the market as well. Looking at the main decision which has been taken
in the organization, it has been identified that organization has taken decision to retain the
Human resource management of the company. For managing the human resources of the
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company organization has decided to provide positive and convenient working environment in
the organization. Also, organization has enhanced the pay of all staff member in the
organization.
This project has also helped the project team in understanding the important of business
and customer awareness as well as helped in providing understanding in regards of Application
of numeracy in the organization. As it has been identified that with the help of customer research
in the market only the company has find it very easy in understanding the need of the customer
in the market and on the basis of the same organization is able to increased the customer order as
well. It has also helped us in getting the information in regards of significance of numerical data
in the organization. As it has been identified that company was easily able to find out the
different data of the competitor in the market and these has ultimately helped the company in
comparing the same. On the basis of the same different decision were taken in the organization
which has helped the company in improving efficiency of variety of activity carried on at
workplace.
There were many things which were evaluated in a way that it is not working that great
for the company. It has eventually offered good sort of challenges for me in managing the same
as company is not doing that great in the market as well. One is importance of adopting the
information technology, it has been analysed that there was a some sort of the confusion and
conflict at the time of outsourcing the customer research service of the company, as there are
member who have suggested that information technology can be used in the organization but
organization has not shown that keen efforts to do the same. These clearly identify that there is
lack of knowledge in regards of information technology adoption in the organization. Another
difficulty which was seen in the process of establishment of the business was in regards of
understanding and implementing the entrepreneur skill set and positive attitude, these has
impacted the operation of the business in long run. As it was find out that whenever the thing in
the organization was going as per the expectation all the team member are very positive in
organization, these has helped the company in improving the operational activity of the
company. At the same time when there is any sort of activity which were not going at their way
all the individual were not that positive in their approaches, these has created the variety of
different sort of the issue for them in the long run. These has created the situation in the market
in which there were good sort of conflicts which has impacted operation of the firm as well.
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Another challenge which is being understood was in regards of usage of entrepreneurial skill, as
all the individuals was not able to use the different entrepreneurial skill in the way it was
expected.
Analysis
After finding out the outcome of the project there are varieties of the thing which is
analysed by the team that if same kinds of activity occur in the future as well project team can
manage them better way. One of such thing was in regards of the decision making as it has been
identified that all the decision which were taken in context of marketing were taken by few
number of team member which has created the situation of the conflict in between the different
employee in organization. Next time the organization will make sure that all the team member
are being involved in the decision making in the organization these will eventually reduce the
amount of the conflicts which has been occur in the past at the time of conducting the task in the
organization. This will also help the company in managing the Human resource of the
organization as Managing Human resource Assists Company in seeing variety of different
benefit in the market as well. Another analysis which was made during the tasks was that all
team member in the project has shown a good sort of problem solving skills. All individual has
used the same at the time when they have individually got affected due to any sort of challenges
in carrying out different activity in the organization. In the future aspect if any such type of thing
will occur we would definitely work in the group to find out the solution of the issue as working
in the group will eventually create the situation in which more than one mind will be invested to
find out the solution of the issue, these will eventually result in seeing that efficiency and
Quality of the outcome which are derived are good to be consider.
There are varieties of different thing which has to be considered by the individual in the
future scenario. First thing which has been identified out of the all was in regards of
understanding information technology in the market, as it has been identified that there is not
that great sort of the understanding about information technology in organization. At the same
time another thing which has to consider by the organization in the future scenario is in regards
of attitude of the team member in varieties of different scenario in the market. As it has been
identified that there are many individuals who has been affected by the extra pressure at the
workplace and they were not able to maintain a good sort of positive attitude at the same time.
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They have to consider in improving the same in the coming future, as attitude used to play a key
role in success of the individual. Another thing which all the individual will look to improve in
coming future is in regards of the entrepreneurial skill which is possess by team members in
real.
Conclusion
After conducting the task for the company it has been concluded from the experience that
there are variety of different type of the experience which was gained by me and my team in the
project. At the same time there are variety of the thing which has not went as per the expectation
these has created the variety of the issue for the organization and created the situation of conflict
in the organization these has impacted the efficiency of variety of the operation which has been
carried out in the organization. By overcoming the variety of the issue which is being faced by
the organization, individual was able to achieve the variety of the different outcome of the task
in the better way.
Action Plan
There are variety of the different decision which will be taken by the team member in the
general to improve variety of the different sort of thing which has not went that well in the
project. To improve the knowledge about the informational technology I will be joining the
variety of the different sort of the conferences and the seminar in the market. These will
eventually helped me in getting the variety of the knowledge in better way in the market as it
will ultimately help the individual in getting practical as well as theoretical knowledge about
varieties of different thing in general. I will be allocating the 3 month period in general to
complete and endure understanding in that prospect. After the period of 3 month I will be
evaluating my performance against the same. In context of learning the positive attitude and
maintaining same in the organization I will try to understand and believe onto my listening skill
it has been analysed by me that believing onto the listening skill will eventually help me in
getting the information about varieties of the different aspect of thing which is creating a some
sort of panicking situation for me. These will eventually helped me in seeing good and positive
response of mine toward the variety of the different activity which is being carried out by me in
the organization. For achieving this sort of the characteristic in the future I will be taking help of
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my colleague review as well. This will eventually helped me in getting understanding in changes
which has been really occur in regards to the development of mine and on the basis of same
variety of the different sort of the decision can be taken by me to improve the same in better
way. I will be investing and trying to adopt the same in 1 year time.
To improve the enterprises skill of mine in the long run I will be taking part into the
variety of different sort of training in the organization this will help me in understanding the
variety of the different aspect of the enterprises skill. Another reason of choosing the same is
that it will provide the on job training to me. As organization is one of the best place to practice
the variety of different sort of the enterprises skill which has been developed by me with the
help of the training. Another thing which will be considered by me was in regards of observing
the senior who are having variety of different enterprises skill in them. To measure the progress
in this action plan I will be taking help of benchmark tool in the organization. In the benchmark
tool quality of variety of the activity will be fixed and on the basis of the same will be measuring
the variance in the benchmarked and actual performance. After that varieties of the activity will
be performed by me to overcome the same as well. For achieving this type of skills I will be
giving 2 year time period.
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REFERENCES
Books and Journals
Ardian, P., Hariyati, R. T. S. and Afifah, E., 2019. Correlation between implementation case
reflection discussion based on the Graham Gibbs Cycle and nurses’ critical thinking
skills. Enfermeria clinica, 29, pp.588-593.
Gibbs, R., 2017. Positive relationships in community youth development organisations: A
reflection on changing organisational relationships in Girl Guides
Australia. Queensland Review, 24(1), pp.34-41.
Lovis, V., Stefaniu, C. and Brezesinski, G., 2019. Modification of Gibbs monolayers by
chromium (III) compounds. Colloids and Surfaces A: Physicochemical and Engineering
Aspects. 576. pp.29-35.
Roósz, B., Visy, C. and Nagypál, I., 2016. On the derivation of the Gibbs–Helmholtz
equation. ChemTexts. 2(2). p.5.
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