Free Essay

Impact of Social Media

In: Business and Management

Submitted By mrpalashsaha
Words 1313
Pages 6
5.2.2 Business Simulation Game (Individual Report)
The Business Simulation Game (Developing Winning Competitive Strategies) is an online, PC-based exercise where you run (in groups) an already established company in head-to-head competition against companies run by other groups from your class. Company operations are made as realistic as possible and the functioning of the marketplace in this Business Strategy Game closely mirrors the competitive functioning of the real-world business arena, thus allowing you and your co-managers to proceed rationally and logically in making strategic based decisions. As strategic managers you will need to satisfy your board members and shareholders/investors on five set performance objectives for the company. These will be explained in full detail in the Participant's Guide which you can download once you register for the game. While the objective of the game itself is to end up leading the competition, through these performance objectives, your assessment mark will be based on an individual report.

This simulation game will commence from the tenth week (eleventh for cohort 2) of term. There will be: two practice sessions in the first two weeks where the simulation game will be presented in full detail; followed by five full decision making sessions over the next five weeks. At the end of the Business Simulation Game you will be required to prepare an Individual Reflective Strategic Report. This report will be borne out of your strategic analysis, rationalisations and decisions made together with reflections on your awareness of the environment and actual experiences internal to your group and relative to the other groups during the running of the whole of the simulation game. A set format for this report is contained in the Assignment Format section below. The word count for this report is 3,500 words and you would be expected to post your report on Moodle in keeping with the set deadline date. You may include appendices (not more than 5 pages please) at the end of your report to provide supporting data/evidence. Reference to these must be included in the body of the work.Please note that there are penalties for exceeding the word count. Your tutor will provide you with feedback and a grade within three working weeks after the posting date.

5.3 Assignment Format

5.3.1 Assignment Format for Business Simulation Game (Individual Report)

Each student is expected to prepare an independent report of his/her experience of strategically managing the company (as part of a group) for the five-year period. The suggested format and structure for this report is set out below.

CONTENTS PAGE The report should be clearly structured and follow a logical format. A contents page should be included which should adequately set out the structure of the report in a systematic way.

INTRODUCTION State concisely but clearly what the report is about and the sequence of key tasks/events to follow.


Describe how your company entered the industry (in each of the four markets in which you operated, and for all product types) and why? As a Global Cost Leader; as a Global Differentiator; other.

EXTERNAL OVERVIEW/ANALYSES Awareness of the external environment and how it impacts on a company is a key strategic consideration. It is important then to describe: the state of the industry when you took over at the end of year 5; its competitive nature; and the opportunities and threats that existed for your company. You should support your answer with relevant strategic models/frameworks. You would need to carry out additional relevant (online) research to inform/support your analysis of the external environment.


Provide a clear but concise overview of the company you were about to take over at the end of year 5. What were its strengths and weaknesses?


You should set out YEAR-BY-YEAR descriptions of and reasons for your decisions.

For each year describe:

- What key decisions were made;

- The strategic thinking behind the decisions making process;

- The outcome/results of these decisions;

- How you performed in relation to your competitors.

Repeat this process 5 times to reflect on each year of running the company.

FINAL RESULTS Describe the final results/outcomes of the simulation exercise for your firm relative to the competition. In retrospect, comment on whether this was indeed a good/bad result for your company and whether your actions/decisions should have been different.


Describe how closely your firm's decisions matched the initial strategic direction selected? Discuss any caveats and complications relating to the Strategy chosen.

Discuss how feasible it was to adhere to the initial strategic direction chosen and if at any time you altered this or considered doing so.

UNDERLYING STRATEGIC PRINCIPLES Bring to light any underlying strategic principles in relation to your company and the decisions made. How do these relate to the results achieved and processes of the simulation exercise (i.e. decisions actually taken and strategic implications and outcomes arising from these for your company)?

Discuss to what degree your decisions were informed (or could have been informed) by clear analysis and sound reasoning in line with these underlying strategic principles.

KEY LEARNING OUTCOMES Provide some discussion and reasoning for the strategic learning that has emerged. For example:

- Having a clear/agreed focus for the company

- The importance of external/internal analyses.

- The complexities of running a company

- Awareness of different stakeholder expectations

REFLECTIONS AND CONCLUSIONS What did the simulation reveal about:

- Competitive positioning?
- 'Beating' the competition?
- Changing Strategies?
- Working as a cohesive team to run the company?

What did the simulation mean for you in terms of: interdependent decision making; experiential learning of running a business; and independent reflections and thinking?

We are as much concerned about your personal development through the exercise as with your strategic analysis and conclusions.

5.4 Criteria that will be used for marking your coursework

5.4.1 Criteria for Marking Business Simulation Game (Individual Report)


10% Introduction and Rationale for Competitive Strategies Selected
Does this section provide a clear focus and overview of the objectives for the report? Are the competitive strategies chosen (for each of the four markets in which the company operated, and for all product types) clearly stated and described? Are good supporting reasons provided as to why the respective strategies were chosen?

25% Industry and Company Overview
Is there a comprehensive understanding of the theories/models used to analyse the external environment and to derive clear opportunities and threats for the company? Is there evidence of additional well researched material to support these analyses? Does the student provide a clear and concise overview of the company and its relative strengths and weaknesses?

25% Decisions Taken and Final Results
For each of the five years of operation, are the following clearly identified and described: key decisions made; strategic thinking behind the decision making process; results achieved; and company's performance relative to the competition? Is the overall performance of the company at the end of the simulation exercise clearly captured and explained in terms of each of the four geographic markets and relative to the different product types?

25% General Reflections and Key Learning Outcomes
Does the student provide meaningful reflections on: underlying strategic principles; models and frameworks selected and analysed; key decision making processes; and decisions or actions he/she might have done differently? Is there a clear link implied between decisions made and the strategic learning identified. Does this reflect a good overall understanding of the complexities of running a business?

10% Conclusions
Does the report bring together well: information contained in the participant's guide; experiential learning of running a company; relevant theories/models; and additional researched evidence, to arrive at meaningful and insightful conclusions?

5% Structure and Soundness
Is the report well organised, clearly written, spell checked, grammatically sound and referenced appropriately?

Similar Documents

Premium Essay

Impact Of Social Media

...the social media and its impact on society became even more apparent after the Arab Spring that spread through North Africa and most parts of the Middle East. The fact that the social media played an active role in mobilizing the people to fight perceived injustice has brought to the fore the need to assess the impact public reliance on the social media has on traditional news media, that is the thrust of this study. This chapter of the research will provide a background into the study, vis-à-vis its aim, objectives, problem statement, significance, limitations and delimitation. 1.2 Background to the study The Arab Spring that rocked most of North Africa and the Middle East was a wake-up call to...

Words: 1112 - Pages: 5

Premium Essay

Media Impact On Social Media

...Teenagers are the most profuse users of social media. 21st century teens have grown up with a large component of their culture influenced by social media regardless of their surrounding. “ Social media can make teens more informed citizens of the country. An example is for intellectual benefits – children can develop problem-solving and critical thinking skills by playing computer games designed to develop these skills, or they can develop ethical thinking by comparing family values with values in fiction or documentaries”.(Homayoun) This is important because by hearing from all parties about the problems the world or what the country is facing, they’ll learn how to form their own opinions at an early age. This is more than most members of previous generations can say for themselves.(Chell)Information is more democratic and available than ever before, yet the dangers associated to it are very real. Some adolescents have been...

Words: 1494 - Pages: 6

Premium Essay

Impact of Social Media

...communication and social media is a common word to all of us and it is really almost impossible to think a single day without these. From the personal use to corporate, social media has a vital role. Young generation highly attached with the mobile communication and social media and as a result they are looking the same service from the work place. However, the fact is there are many organizations who do not allow these types of social media within their organization. Infarct, organization should make such a work environment where employees get all the important social media facilities as if they can become more efficient and effective. The main motive of the organization is making profit whereas, by providing social media facilities, organization can reach to their main motive. Table of Contents Executive Summary2 1. Introduction4 2. Findings 5 3. First experience of mobile communication and social media6 4. Impact of mobile communication and social media…………………………………6-7 5. Expected Information System of the organization…………………………………..7-8 6. Conclusion …………………….........................................................................................8 Reference…………………………………………………………………………………............9 Introduction Social media is a common word for young generation as well as for the work place. Social media is such a platform where friends and family members stay connected through internet. Mostly, people use social media as a way of......

Words: 1294 - Pages: 6

Premium Essay

Social Media Impact

...Social Networking Sites(SNSs) nowadays have taken part in evolution of human community as an important medium to interact among people. There are several SNSs with different technology background and these sites have been integrated into daily life practises of the users. Currently the most commonly used social networking sites are Facebook, Twitter, Youtube, LinkedIn, Pinterest, Google Plus, Tumblr and Instagram and so on. By the enhancement of the technology, social media has change the way information delivering, from the role of consumer as a passive recipient to transforming individual as an active broadcaster of content. Social media convey the “long tail” concept and it apparently helps to disseminate the information to reach a worldwide...

Words: 1068 - Pages: 5

Premium Essay

Impact of Social Media

... UNIV 111 Williams 02 Dec 2015 Negative Impacts of Social Media It is not an uncommon sight to see someone having meal with their friends or family on the dinner table, completely absorbed by the display of their smart phone. The way we choose to connect with people has become largely mediated by social networking. Most of us, perhaps not surprisingly, have accepted this transition without question. Whether you are dating someone, interviewing someone, or just meeting someone for the first time, there is a special quality about face-to-face interactions. You can catch the subtle tone in their voice, see their expression as it changes from sad to outraged, and you can look them in the eye to see if you trust them. So it’s unfortunate that real-life interactions are on the outs as cell phone conversations, texting, instant messaging and Facebook emails start to take up more of our time. For young people especially, having a cell phone or iPod in hand and ready has become the default mode while walking the streets. That means much less chance of conversation with the people who populate their real lives. Years ago, before social networking existed, friends would go out and have a good time, and popularity in high school would be something of importance to a lot of people. Today, popularity is the equivalent to having a......

Words: 1152 - Pages: 5

Free Essay

The Impacts of Social Media

...Social Medias Impact on Consumer Behavior With today’s technology the use of social media has taken the world by storm, with millions of people able to rate, review and share opinions on products at the palm of their hands. The high usage of social media sites is creating a new medium for companies to communicate with consumers on a personal level they were not able to years ago. With the usage of smartphones sky rocketing consumers are now able give their “two cents” about products or services the second they experience them. This is an essential element for companies and consumers because social media allows them to view reactions about new products, whether they are negative or positive. Where would you like to eat tonight? Be daring and try the new bistro that just opened down the street or play it safe and go to Applebee’s? This could be one of the most daunting decisions someone may have to make throughout their day. When it comes to where one would like to spend their hard earned dollar on a meal 45% of consumers turn to leading social media sites like Yelp for recommendations (Pann). 57% of consumers rely on the reviews from these sites on restaurants to determine where they will dine that night (Pann). But how reliable are these reviews that consumers are putting such high importance when it comes to their dining experiences? When it comes to the reviews on websites such as Yelp, a recent study by Gartner a tech research company has determined by 2014 that......

Words: 1472 - Pages: 6

Free Essay

Social Media and Its Impact

...Careers • Membership SEARCH Top of Form [pic]IN Bottom of Form • E-MAIL • PRINT Home » News & Events » Press Room » Press Releases August 6, 2011 Social Networking’s Good and Bad Impacts on Kids Psychologists explore myths, realities and offer guidance for parents WASHINGTON—Social media present risks and benefits to children but parents who try to secretly monitor their kids’ activities online are wasting their time, according to a presentation at the 119th Annual Convention of the American Psychological Association. “While nobody can deny that Facebook has altered the landscape of social interaction, particularly among young people, we are just now starting to see solid psychological research demonstrating both the positives and the negatives,” said Larry D. Rosen, PhD, professor of psychology at California State University, Dominguez Hills. In a plenary talk entitled, “Poke Me: How Social Networks Can Both Help and Harm Our Kids,” Rosen discussed potential adverse effects, including:  • Teens who use Facebook more often show more narcissistic tendencies while young adults who have a strong Facebook presence show more signs of other psychological disorders, including antisocial behaviors, mania and aggressive tendencies.   • Daily overuse of media and technology has a negative effect on the health of all children, preteens and teenagers by making them more prone to anxiety, depression, and other psychological disorders, as......

Words: 731 - Pages: 3

Free Essay

Social Media Impact

...Drivers of emerging HR practices Introduction A workplace is diverse in many ways. There are people of all age groups, nationalities, education levels and not to forget, both genders working together. These factors and many more, individually or in combinations bring about change in the traditional HR practices. Thus we can call such factors as the drivers of emerging HR practices. It is important to understand the drivers so that one can make pertinent policies that will help integrate them into the workplace without alienating the remaining workforce. With this in mind, I set out to find the harbingers of change. For my literature review, I narrowed down to a few drivers such as expatriates in the workplace, increased women workforce, the advent of internet, the generation gap and the emergence of Gen Y or the millennial as a force to reckon with. I looked up online journals and databases such as HR Quarterly, Personnel Psychology, Emerald Insight, EBSCO and JSTOR. A search for each of the factors mentioned above was carried out in the said journals and databases. The maximum results came for the topic of Gen Y. A lot of people are trying to understand Gen Y and what makes them tick. Another thing that goes along with Gen Y is the fact that they take to internet like fish to water. There is a lot of extant literature on this phenomenon (Bolton 2013). This paper will be focusing on the contribution of Gen Y to emerging HR practices. Generation Y is roughly defined as......

Words: 2996 - Pages: 12

Free Essay

Impacts of Social Media

...INTRODUCTION The media trend that is on the tip of everyone's tongue these days: Social Media. It is the hot topic that has people, organizations and businesses divided on its suitability in their marketing plan. Some businesses are being built by using social media. It has given way to the media darlings who built an immediate territory by having a lump of friends on Facebook, tweeting until their thumbs wore blisters and blogging until their eyes fell out. But what is Social Media? Social media is a new practice of networking that permits any individual to become a source of information via new technologies that do not need any preceding experience. Social media permits the audience to be the authors and vice versa. Not only does it allow the audience to become involved, it is an essential part of the involvement. Social media booms on social exchanges from the audience, i.e. - commenting on someone's Facebook status or blog posting, tweeting a disproof to someone's tweet or rating a YouTube video. The whole experience is broad and this is exactly why the medium has caught fire. Anyone can do it and do it for essentially free, as long as they have an internet connection and computer. Popular sites include Facebook, YouTube. Twitter, LinkedIn and many others. These sites all permit users to post information that can then be commented on, followed or possessed by bigger social individuals and peers. Many businesses are exploiting on its use to target market demographic......

Words: 1770 - Pages: 8

Premium Essay

Social Media Impact

...Shrivastava, H. Roque Has social media socially handicapped the young? As human beings, the only real method of connection is through authentic, face to face communication. Face-to-face interaction allows us to understand each other profoundly and allows us to get to know each other down to the most fundamental levels of who we are (Tardanico, 2012). According to Forbes magazine, less than 10% of communication is based on spoken words. This means that over 90% of communication is based on nonverbal signals such as body language, eye contact, and tone of voice. Therefore, it implies that face to face communication is a very efficient way of communicating and it evidently improves our interpersonal and social skills (Jones, 2013). However, direct interaction is not being seen as the best way to communicate anymore, especially among teens, and people are not putting as much value as they once did on face to face interactions (Suliveres, 2014). Young people nowadays mostly use text messaging and other digital devices to communicate their concerns to their target recipient. Mobile phones and SMS help them to stay connected with their peers especially with those at a distance and thus, making life much more bearable by getting moral support from them. Furthermore, it helps them to fight boredom. This type of communication makes it easier for them to reach out to other people making them more sociable in a sense (Horstmansho, Power, 2005). On the other hand, social......

Words: 1097 - Pages: 5

Premium Essay

Impact of Social Media on the Workplace

...Research Report Impact of Social Media on the Workplace By Abdul Asif 300817244 Rajdeep Kaur 300816572 Divyeshkumar Patel 300823773 Surya Chandu Sanaka 300831648 Sai Sravani Velaga 300829096 Submitted to: Prof. Phillip Alalibo GNED 219-071 Winter 2015 1. Introduction of Topic and Clarification of Research Statement “Our research topic is - The Impact of Social Media on the workplace and our research statement states that Social Media have a significant and positive impact on the workplace.” Social media is turning into an inevitable part of our society. It serves as medium to globally link people together, regardless of their physical location. Generally, people are using social media for various reasons, such as to share information, to get in touch with their loved ones, and to look for business......

Words: 2892 - Pages: 12

Free Essay

Social Media Impact on Marketing

...University of World and National Economy Department: Economics in English STUDENT PAPER Topic: Old Spice (Social Media Impact on Marketing) Year 2012 Content 1 What is Social Media 2 2 Classification of social media 3 3 How does social media work 4 4 Why is social media so popular 5 5 Social media and marketing 6 6 Old Spice – the Company 7 7 Marketing Strategy 8 8 The beginning of “Smell like a man, man!” campaign 9 8.1 It’s not about Social 10 8.2 Define the right strategy before defining the digital agenda 11 8.3 Leave room for experimentation, even failure 11 9 The Post-Old-Spice principles of social media marketing 11 9.1 Create a persona that is strong and on point 11 9.2 Seed social networks with invitations to interact 12 9.3 Engage the engaged, the famous and the influencers 12 9.4 Personalize the response and people will compete for inclusion 13 9.5 Make it episodic and easy to share 13 9.6 Keep the videos simple and short 13 9.7 Promote it with tie-ins offline 14 10 Conclusion 14 11 Sources 15 What is Social Media It is a revolutionary way of communicating with the audience. It includes web based and mobile technologies, making communities, organizations and individuals interact. Social media is defined by Michael Haenlein and Andreas Caplan as: "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0 and that allow the creation and exchange......

Words: 6133 - Pages: 25

Premium Essay

The Impact of Social Media on Adolescents

...The Impact of Social Media on Adolescents ILR 260 National University The emergence of social media has forever changed the way users interact with each other. Facebook became public in September of 2006, when it expanded its membership to any user 13 years and older instead of its exclusive University and High School members (History of Facebook, 2014). Twitter was created in 2006, but did not gain popularity until 2012 (Twitter, 2014). Today, there are many social media sites today, such as Facebook, Twitter, YouTube, Instagram, etc. With so many options around the world for social media apps, adolescents are being targeted to join these sites and mobile apps. There are many positive aspects of the social media, but there are many negative aspects from the use of social media. What impact is social media having on adolescents? Is the use of social media affecting their ability to form personal relationships or learn valuable communication skills to use later in life? Is social media affecting adolescent’s fragile mental states, causing more mental health issues? Being a teen is hard enough as it is without adding the additional stress that social media is bringing to the table. “Daily excessive use of media and technology has been linked to negative effects on mental health of teens” (Rosen, 2011). Social media has exploded in recent years and continues to grow. According to a clinical report from the American Academy of Pediatrics (AAP), from 2006 to 2011 there has......

Words: 1650 - Pages: 7

Premium Essay

Cognitive Impact of Social Media

...INTRODUCTION Social Media refers to the means of interactions among people in which they create, share, and/or exchange information and ideas in virtual communities and networks. social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content. Furthermore, social media depends on mobile and web-based technologies to create highly interactive platforms through which individuals and communities share, co-create, discuss, and modify user-generated content. It introduces substantial and pervasive changes to communication between organizations, communities, and individuals. Cognitive Psychology is the branch of psychology that studies mental processes including how people think, perceive, remember, and learn. As part of the larger field of cognitive science, this branch of psychology is related to other disciplines including neuroscience, philosophy, and linguistics. The core focus of cognitive psychology is on how people acquire, process and store information. There are numerous practical applications for cognitive research, such as improving memory, increasing decision-making accuracy, and structuring educational curricula. Youth is the time of life when one is young, but often means the time between childhood and adulthood (maturity). Definitions of the specific age range that constitutes youth vary. An individual's actual maturity may not......

Words: 5694 - Pages: 23

Free Essay

Social Media Impact on Advertising

...------------------------------------------------- Social Media Impact on Advertising Kiron mckenzie Kentucky State University MIS 300 James Obeilodan 5/5/16 Kiron mckenzie Kentucky State University MIS 300 James Obeilodan 5/5/16 Table of Contents Introduction………………………………………………………………………... Page 1 Marketing Facts and Statics in Relation to Social Media………………………. Page 3 Advertising on Social Media is a Steal………………………………………….... Page 5 Benefits of Marketing on Social Media…………………………………………... Page 7 Conclusion………………………………………………………………………..... Page 9 Kiron McKenzie 4/10/16 MIS 300 Social Media Impact on Advertising Introduction: From the earliest starting point, online networking has importantly affected every one of us. Online networking began as a technique for individuals to either interface or reconnect with each other. As of right now, online networking has turned out to be a great deal more. Specialists use showcasing to effectively develop their organizations and to get their pledge out tremendously. The best showcasing methodology is one that utilizations online networking and customary promoting in pair. Entrepreneurs have made sense of that online networking advertising has an exceptionally constructive outcome on the achievement of business and it is a technique that takes next to no cash to finish a strong deciding result. The term advertising alludes to a sort of correspondence through which group of onlookers or purchasers are induced......

Words: 2324 - Pages: 10