Individual Reflection On Business Simulation Commerce
- 2.0 Operations Management
- 3.0 Product Life Cycle
- 3.1 Critical Analysis of the Product Life Cycle with Experience in Simulation
- 4.0 Automation
- 4.1 Critical Comparison Of Theoretical Automation With Personal Contemplation
- 5.0 Productiveness
- 6.0 Analysis of the Importance of the Production Decisions to Marketing in Simulation with Theory
- 7.0 Evaluation of Quality Management
- 8.0 Critical Analysis of Individual Reflection Sing Working in The Business Simulation
- 9.0 Decision
An apprehension that a individual develops from any sort of work is categorized under an experience that is reflected by an person in varied signifiers. Individual contemplation in simple is a personal experience working in a squad. Individual contemplation is one of import manner to portray sing 1s experience in working in the groups and gives thoughts for a better result and ways with which troubles can be overcome.
Many administrations, particularly academic establishments pay particular attending to garner contemplation from their pupils for assorted undertakings to better the system and criterion of instruction. Likewise, I have besides been given the chance to compose my ain sentiment and ideas related to the concern simulation plan that we pupils were engaged in after the completion of the taught faculties of Masters in Management. Surely, this simulation undertaking has been a good method of appraisal and application of most of the relevant theories learnt in the class.
The concern simulation undertaking provided the pupils with an chance to larn, see professional direction pattern and implement the theories and concern models that were learnt during the taught class and are practised in a existent and existent administration. Kleinrichert ( 2005 ) outlines the importance and signifies the apprehension of theories for the integrating of preparation of concern professionals is an of import step for the survey of the instruction of professionals as determination shapers. However simulations can be expensive ( Chun-Hung, et.al. , 2010 ) .
I was an operational manager in this undertaking. Most of my determinations were based on study and research provided by the selling section. However, its was non an easy undertaking as all the other managers, such as finance and human resource, were strongly connected with the determinations that operations had to take. It was learnt through out the undertaking that marketing research plays a critical function in doing most of the production determinations as fluctuations in the anticipations as estimated by the selling research had shown a great influence on my determinations.
Discussed below are some theoretical models that I used as an operational manager in the concern simulation undertaking in planning and implementing my determinations. Prior to analysis of my experience working as an operational executive, it is every bit of import to understand the term: operations direction.
2.0 Operations Management
Operations direction manages the procedures involved in the production and distribution of goods and services. In every administration operations direction is a cardinal public presentation in bring forthing and administering goods and services. Surely this has been acknowledged during the concern simulation undertaking.
“ Harmonizing to the APICS dictionary.. , operations direction is defined as ‘the planning, programming, and control of the activities that transform inputs into finished goods and services ‘ ( Cox and Blackstone 1998, p.62 cited in Foster and Ogden, 2008, p.6946 ) .
Working in the concern simulation helped to a great extent in understanding that the function of the operational manager is non limited to merely production of goods and services, and arguably there are assorted other countries that needs to be kept in head when doing determinations. For case, finance, human resource and selling determinations can non be taken into least importance when doing operational determinations. This simulation helped in understanding the strong relationship that exists between these sections.
3.0 Product Life Cycle
The merchandise life rhythm is by and large a gross revenues volume go throughing through four phases, i.e. , debut, growing, adulthood and diminution. Harmonizing to assorted writers the net income of the merchandise can be increased by measuring where the merchandise stands in the life rhythm.
3.1 Critical Analysis of the Product Life Cycle with Experience in Simulation
This theory played a great function in doing production determinations in respect to the PLC severally. There was a point when as an operational executive in the squad I decided to bring forth autos disregarding the merchandise life rhythm of that auto and found out that this ignorance truly left our squad with immense stock list and finally a load on the finance.
However, merchandise life rhythm of every auto in the simulation was noticed to be different. Therefore, it was non easy to foretell right every clip where the merchandise stands in the life rhythm. One thing that helped in make up one’s minding was figure of old twelvemonth gross revenues.
However, the selling anticipations and stock degrees helped me to a great extent in make up one’s minding where the merchandise stands in the merchandise life rhythm and therefore helped in doing determinations about production degrees for following twelvemonth.
Product life rhythm did helped in doing selling and production determinations, but it can more be said that it has different stages which guide us as to what is needed to be done with the merchandise. For case whether it needs to be re-launched, increased in production or advertised.
The adulthood stage in the PLC demands cutting down cost and increases gross net incomes as most of the competition is levelled. However, it was learnt that it was non possible to cut down cost every bit good as addition gross net income borders at the same clip as with rising prices the cost would automatically travel up.
Automation is commanding the machines with more automatic systems. Where it is said that mechanization additions productiveness and quality, on the same manus it can non be ignored that mechanization can non do up for hapless direction ( Gaither, Frazier, 2002 ) . Furthermore, a cardinal issue is finding how much mechanization to put into the production system.
However, arguably the writer farther provinces that it can non be ignored that bettering merchandise quality and merchandise flexibleness motivates many companies to do immense investings in mechanization.
4.1 Critical Comparison Of Theoretical Automation With Personal Contemplation
Distribution of mechanization and work force was the most hard portion working as an operational manager. I do agree with Gaither and Frazier sing the addition of productiveness with mechanization, nevertheless, on the other manus it can non be ignored that machine-controlled equipment is really expensive and pull offing mechanization is hard. Automation can cut down labors and related costs, but in many applications the immense investing required by mechanization undertakings can non be justified on labour nest eggs entirely.
It was learnt that mechanization is a really careful investing as it was seen in one of the old ages that in right outgo in computation did laid off some workers, which finally led to more work stoppages.
However for administrations to accomplish the necessary productiveness increases requires the attempts of all maps. Maintenance is no exclusion. And mechanization does demand care and a depreciation value.
Harmonizing to Krajewski and Ritzman ( 2005, 14 ) ‘Productivity is the value of end products ( services and merchandises ) produced divided by the values of input resources ( rewards, cost of equipment, and the similar ) used. ‘
Furthermore, the challenge is to increase the value of end product relation to the cost of input. If procedures can bring forth more end product or end product of better quality utilizing the same sum of input, their productiveness additions. If they can keep the same degree of end product while cut downing the usage of resources, their productiveness besides increases ( Krajewski and Ritzman, 2005 ) .
However, it is arguable as to how increasing end product can be achieved with the same sum of input, as with economic fluctuations it is was experienced in the simulation that it is improbable that productiveness can be increased without farther investing. Furthermore, rise in rising prices additions cost.
6.0 Analysis of the Importance of the Production Decisions to Marketing in Simulation with Theory
Harmonizing to assorted researches the most important determination of the operational section of any company is gauging and ciphering production. Numerous writers have emphasized the importance of connexion of production determinations in relation to the gross revenues appraisal provided by the selling.
Harmonizing to Muhlemann, Oakland & A ; Lockyer ( 1994, p.5 ) , “ The relationship between selling and production maps is critical to the success-that is, the survival- of the whole administration. The closer together they approach, the greater the likeliness of the success, and it is interesting to recognize that at the beginning of any administration the marketing/production maps are normally carried out by one and the same individual. Separation of these two maps or a decrease of their inter-connections increases the likeliness of catastrophe. ”
This interconnectedness between the selling and production maps has been experienced to a great extent in the simulation. However, where on one manus it was seen that with proper gross revenues appraisal provided by the marketing the production determinations were appropriate and a proper stock degree was achieved, on the other manus at several points with wrong anticipations of marketing gauging or research has led to misreckoning in the figure of autos produced, finally taking to either over production or underproduction.
However, selling was found to be strongly interconnected with operations and it was learnt that if selling maps are carefully estimated with in-depth research, there is a high opportunity of truth of the operations to be efficient.
7.0 Evaluation of Quality Management
Research workers in operations direction have shown great involvement in theories related to quality direction ( Benson et al. , 1991 ) . In today ‘s dynamic and extremely advanced environment quality can be one of import cardinal factor in finding a company ‘s endurance. However, it can non be ignored that with the extremely disruptive economic state of affairs people demand merchandises with low monetary value. And it can be argued that quality can non be achieved without excess cost. And this is what was experienced in simulation that the more attending to quality was given, the more load on finance was generated.
Yet, on the other manus legion writers like Muhlemann, Oakland & A ; Lockyer ( 1994 ) believes that the repute fixed and perceived by external environment to any house for the quality of its merchandises is acknowledged as a mean to its success. Furthermore, to win in any possible manner, an administration must be devoted to constant development, go forthing the consumer with no longer pick between monetary value and quality. Additionally the writer outlines that quality is non merely limited to profitableness, but critical to concern endurance.
I do hold to a great extent with the writer sing the importance of quality in concern operations ; nevertheless it is arguable that quality is straight linked with addition in outgo thereby increasing cost. On the other manus, it was seen in simulation that with tough competition, monetary values were forced to be set with low gross net income borders, finally taking to compromised quality. And with intense competition it was non easy to concentrate on quality due to low monetary values. It was much complicated to work out quality in the simulation than it is said in the theory. Lot of factors were needed to be taken under consideration when it came to bettering quality, for case, investing in preparation, mechanization or research and development, proper work force allotment. There was non a individual factor that could hold improved the quality entirely.
However it can non be ignored that entire quality direction is a path to progress the value, effectivity, success and fight of a concern as a whole ( Muhlemann, Oakland & A ; Lockyer, 1994, p.108 ) . Yet to some extent it was seen in simulation that in intense competition it ‘s the monetary values that decided the endurance of an administration and non the quality. As even with mean quality our company was able to sell autos due to low monetary values as compared to rivals.
8.0 Critical Analysis of Individual Reflection Sing Working in The Business Simulation
Initially on twenty-four hours one it seemed rather tiring the whole construct about simulation. However, when the simulation started it really got truly interesting and motivated and as an operational manager I could truly use and larn in a practical sense most of the relevant theories that apply in existent existent concern. Simulation made most of the constructs learnt in theory clear.
Working in a squad was a great experience as different sentiments were exchanged, nevertheless, because as we were five members in a squad I could n’t use few determinations. At this point I would reason to certain extent that I was non able to use my full capablenesss as I was forced onto brand certain determinations which my squad couples wanted and I was non to the full in favor. However, as an operational executive I had bid on operation determinations and this simulation really did give a feeling of working in existent concern
Initially there was a strong struggle in make up one’s minding who is traveling to pull off which section. No 1 was willing to take the duty to command the finance determinations, therefore it was decided that we would assist each other out and work jointly in doing all determinations. Despite of struggle at certain times, nevertheless, some of the issues that originated during simulation were finally handled cleverly and most of the determinations were made in a timely mode that affected the result of our company positively.
This simulation helped to understand and larn the concern programs that are taken for the direction of a competitory concern undertaking. This simulation gave sound cognition associating to direction determinations in the fiscal, operational, selling and human resource countries. Furthermore, a sound apprehension in the integratings of operational determinations in selling, finance, quality, production, human resource direction and merchandise development was gained through this simulation.
However, it was a great manner in larning as a uninterrupted feedback was provided on the effects and consequences. The coach used to supply us with brief but utile information, constructs and cognition sing the advancement and results of the company.
The concern simulation undertaking helped to a great extent in developing an apprehension of the theories, learnt in the taught faculties, in relation to its execution in the existent concern universe. This simulation really helped as the groups that merely played with the Numberss and did non set into relevant theories while doing their determinations they really flunked and their companies failed. So, overall it was a good experience. Though our group did see hard clip when doing certain determinations as every member had a different thought, but by and large our determinations in relation with the theory managed us to last till the terminal with nice net incomes.
However many countries and theories of concern could non be decently explored in the simulation. For case there were determinations linked with apportioning the work force, stock list direction and mechanization that could hold been better experient if the university could set up and supply us with the chance to acquire experience by making an internship in a existent company. Furthermore, issues related to uninterrupted betterment in quality in relation to increase in investings in R & A ; D and mechanization was non clear. Furthermore, as quality demands investing therefore in intense competition and increasing rising prices the construct of increasing quality without increasing cost could non be decently understood.
However working in the simulation was a great experience to larn and there were by and large tonss of things that were learnt that could non hold been learnt merely with analyzing theory. Furthermore, fortuitously this concern simulation gave me a good and valuable experience working as an operational executive that would positively ease me in my calling and would increase my future occupation chances.