...Achieving Project Goals Simulation Businesses use projects to focus on the way strategies can be put into action to meet the objectives of a business. Through project management, businesses can establish stated objectives and perform the tasks on the project with the knowledge in completing the strategies that aligned with goals of leadership. Project management is designed to make better use of existing resources by getting work to flow horizontally as well as vertically within the company (Kerzner, 2006, pg. ). As part of project management I had the chance to understand how to apply the proper decision-making techniques by completing this simulation. The simulation provided a variety of different situations that I had to make as the Project Manager for this project. By completing this simulation it allow for me to understand the different methods that are involved in proper decision to perform a task in a project. How did completing this simulation change your perspective of project management? After completing this simulation, it has changed my perspective of project management. Initially I was under the impression a project manager primary job was to manage the process that was established through the job scope and a statement of work. Completing the simulation has proven that even if everyone understands the objectives it takes effective planning, execution, monitoring, and controlling methods to complete a project successfully (University...
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...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...
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...Supply and Demand Simulation Stephanie Barnett Week 2 Individual Assignment ECO/365 Instructor Monday, December 02, 2013 Supply and Demand Simulation The simulation was extremely informative, effective, and a valuable learning experience. I feel it has enabled me to evaluate management options and connect through visual stimuli. The scenarios presented real-world situations and decisions and dealt with quantity demanded, quantity supplied, demand curves, supply curves, equilibrium prices, and the factors that affect them all. I also found the price ceiling scenario most interesting and familiar as many apartments where I live are city or government mandated. Most of the concepts in this simulation were relative to microeconomics, the theories, practices, and management in an organization. However, the government mandated price ceiling reflects macroeconomic theories, practices, and management of a states, regions, or countries. Scenario I In the first scenario the objective was to decrease the vacancy rate while maximizing profits. My decision to decrease the vacancy rate to 5 percent by reducing the rental rate to $950 enabled GoodLife to increase occupancy/demand on their two-bedroom apartments; fully maximizing their profits. My decision would also leave GoodLife with a surplus of product/apartments, which is not so good in regards to maximizing profits. In order to rent these surplus of apartments GoodLife...
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...cause and effects can have on a company through the use of the improving organizational performance simulation. In the following the concepts of choices made during the simulation will be discussed; as well, what motivational theories to use and what are the affects to reduce workplace stressors. In the first part of the simulation the student is introduced to the organization as an organizational psychologist for hire. The psychologist is hired to improve the failing company before it is too late to recover. Upon introduction to the company the first search for information done was to implement an JDI (job descriptive index), along with profiling the personal, and viewing a blog that was available (Apollo Group Simulation, 2005). With the information that was available, the members of the company were not happy because that the organization is not living up to his or her expectations prior to joining, and his or her suggestions are not taken seriously. This was the correct choice according to the simulation. As the simulation did demonstrate through the survey, and blog that the employees were dissatisfied with the build-up that this company once had. This is available by paying attention to the underlying comments, and ignoring the pay issues, as noted in the simulation there will always be pay complaints (Apollo Group Simulation, 2005). The second part of the simulation is concerned with that the employees consider the organization an inflexible and rigid boulder....
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...implications of the growing role of private military companies (PMCs) for governing global politics Introduction The focus of the investigation, the findings of which are presented in this essay, was on the implications for the governance of global politics of the growing role of private military companies (PMCs). PMCs are different from traditional military contractors, which more often than not are referred to as defense contractors. Traditional military (or defense) contractors manufacture the weapons of war, provide the supplies that are required by armed forces, or perform other services that do not directly involve their personnel in combatant roles. Private military companies, in contrast to traditional military contractors provide both direct military services and security services. PMC personnel are directly involved in combatant roles when the contract provides for the delivery of military capacities. PMC personnel may be directly involved in combatant roles when the contract provides for the delivery of security services. PMC personnel providing security services must be prepared to engage in combatant roles; however, much of their duties will be as guards to prevent breeches of security. In the investigation, the results of which are presented in this study, the implications of the growing role of PMCs on the governance of global politics considers the effects of PMCs in both their military roles and their security roles. While the direct combatant roles...
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...This research also implies that the connection between social and physical threats could be utilized to counteract people’s responses used to compensate for being excluded. Studies 2 and 3 highlight how physical invulnerability can reduce the desire of the participants to reconnect with desirable partners. The similar findings between all three studies suggest that physical invulnerability does not only boost positive feelings in the face of exclusion, but it actually disrupts the responses produced in order to compensate for social exclusion. These studies bring to light the fact that being excluded is a psychologically painful event that can cause obvious damage to social relationships. Today, social exclusion does not contain the same threats as it did in the past, however the human reaction to social exclusion is still indicative of the perception that a physical threat will result from the exclusion. The author’s hypothesis is fully supported by the evidence collected from all three studies that were...
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...International Legal and Ethical Issues Simulation Analysis Businesses must ensure legal protection from other foreign country companies from adverse actions. There is high risk in international business transactions and CadMex need to protect against them. Steps to protect the business legally is crucial when selecting the choice-of-law, and selecting clause in the simulation. Establishing terms in a contract is important factor in a business partnership between foreign countries to protect interests for each party. After completing the first section of the simulation identifying the choose-of-law in the United States regarding specific contracts is Contract of International Sale of Goods (CISG) for domestic business transactions that cover marketing ProPez. CISG laws cover the use of technology in this case with Gentura; however, does not cover licensing or patents. International Arbitration non-binding contract provides variety of dispute resolution organizations to resolve contract disputes may take a year instead of awaiting court availability in this case, it is less expensive, and recognize contract internationally. This option safeguards CadMex’s interest with certain contingencies under contract law applicable in this case. After Candore gained World Trade Organization (WTO) the best choice remains CISG fits terms in the contract cover marketing ProPez and technical training, but does not cover patents and licensing. In March 2007 an unidentifiable...
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...my experiences during the Everest team simulation in the contexts of ‘attitudes, personalities & perceptions’, ‘power & conflict’ and ‘groups & teams’. Executive Summary The Everest simulation is a team simulation designed to emulate real life group processes and the diverse range of intergroup interactions this entails. Developed by Harvard Business School, participants are grouped into teams of 5 (with an optional sixth member, the observer) that make a virtual climb up Mount Everest. Performance is assessed through both individual and team goals that are provided throughout the simulation. Members were allocated into groups randomly within tutorial groups and assigned roles within the simulation. I was assigned the role of environmentalist, but assumed the informal role as one of the team’s leaders. Our group as a whole managed to achieve a satisfactory 67% of team goals, and I managed to achieve 57% of my individual goals. The objective of this report is to critically analyse and reflect upon the intergroup interactions that lead to the successes and failings of our team. These successes and failings will be viewed through the lens of the theories and concepts developed in the course in order to gain insight into group processes and human behaviour. The report starts with analysing and breaking down human cognitive processes and social interactions through the tripartite attitudes model, cognitive dissonance theory and human perception biases. This gives...
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...contemporary approaches to management relate to every organizational environment directly, but can have an overall impact. Sociotechnical systems theory is a contemporary approach to management that says that the right combination of workers along with their knowledge, training and tools leads to organizational effectiveness in satisfying customers. Quantitative management is another contemporary approach that prioritizes mathematical or statistical analysis as basis for decision making. This approach helps a manager make a decision by developing formal mathematical models including linear programming, queuing theory, simulation, forecasting, inventory modeling, network modeling, and breakeven analysis to resolve a problem (Bateman & Snell, 2013). The organizational behavior contemporary approach studies and identifies management activities that promote employee effectiveness by examining the dynamic nature of individual and group behaviors and interactions along with organizational processes. Systems theory shows that the organization’s performance depends on how effective it is providing goods or services using inputs from the external environment. Systems theory also points out that an organization is one system in a series of subsystems and is interdependent with other subsystems (Bateman & Snell, 2013). In the systems theory contemporary approach to management, an open system is a set of components and processes dependent on inputs from the outside word such as raw materials...
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...Ethics Game Simulation University of Phoenix MGT 216 November 7, 2010 G-Bio Sport’s Game Simulation Today I had the opportunity to experience the interactions of ethics and problematic dilemmas facing an organization through a game simulation. The simulation placed the role of quality control manager (QCM) as my title within an organization called “G-Bio Sport’s.” Additionally, I was tasked with two dilemmas involving ethical issues, and the various ethical perspectives that were used in my analysis and decision making to resolve the dilemmas. This journal will reflect the issues, steps, ethical perspective used to base decision on and influence it played, as well as the correlation of various concepts within the simulation with my workplace. Ethical Dilemma Issue (The Case of Fair Warning) In the first dilemma products contaminated with high levels of GBS-Fibranafren, one of G-Bio Sport’s patented ingredients, which over two-thirds of the company’s products contain where found to have slipped through quality control. The dilemma provoked an issue of what the best decision would be to initiate a resolution to the issue. The company concluded that in healthy adults there was extremely low risk, though those with low immune systems would be at a higher risk, this with repeated use. Decision Making Steps In coming to an ethical decision or basis, I first identified the issues (whether or not to recall, disseminate the information, refund or...
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...ECO 372 Entire Course (UOP Course) For more course tutorials visit www.tutorialrank.com ECO 372 Week 1 Discussion Question 1 ECO 372 Week 1 Discussion Question 2 ECO 372 week 1 Individual Assignment Term Definition Paper ECO 372 Week 2 Discussion Question 1 ECO 372 Week 2 Group Discussion Question ECO 372 week 2 Team Assignment Industry Overview Paper ECO 372 Week 3 Discussion Question 1 ECO 372 Week 3 Group Discussion Question ECO 372 week 3 Individual Assignment Fiscal Policy Alternatives Simulation ECO 372 week 3 Team Assignment Economic Indicators Paper ECO 372 Week 4 Discussion Question 1 ECO 372 Week 4 Group Discussion Question ECO 372 week 4 Team Assignment Economic Indicator Forecast Paper ECO 372 week 5 Individual Assignment Applying International Trade Concepts Simulation ECO 372 week 5 Team Assignment Economic Project Paper ECO 372 Final Exam Guide ------------------------------------------------------------------------------------------ ECO 372 Final Exam Guide (UOP Course) For more course tutorials visit www.tutorialrank.com 1) The largest source of household income in the U.S. is obtained from 2) The market where business sell goods and services to households and the government is called the 3) Real gross domestic product is best defined as 4) Underemployment includes people A. who work "off-the-books" to avoid tax liabilities B. who are working part time, or not using all their...
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...Executive Summary The purpose of writing this report is to evaluate and provide sound advices to the company, Venture Simulation Ltd on its business simulation game, Sim Venture. Several recommendations will be given for future improvements based on the main business areas of the company. In recent years, the business simulation industry is growing rapidly. With outstanding product design and feature, more and more educational institutes and commercial organizations demand the business simulation to provide their students and staffs quality business and entrepreneurship learning. Since there is a potential market opportunity for the product, it is necessary to introduce a new product and implement an aggressive marketing strategy in the existing and new market in order to obtain sustainable competitive advantage for larger market shares. For scaling the venture, the owners emphasize the long lasting customer relationships to enhance the customer loyalty to the product. Effective intellectual property protection strategy must also be executed in order to prevent others from copying the simulation. Finally, several innovative strategies including effective marketing strategy, introduction of new product, penetrations of new markets are strongly recommended for better future business growth. Table of Contents Executive Summary Table of Contents 1. Introduction 1 2. Background of the Company 1 3. Market Opportunity 2 4. Product...
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...The Transactional Leadership theory which is also known as Managerial Leadership became famous in the early 1980s. This theory was concerned about a reward and punishment system in leadership whereby the leader has the power to manipulate the followers in exchange of something of value (Bass, 1990; Burns, 1978; Kuhnert & Lewis, 1987; Yukl, 1989). It is based on bureaucratic authority and legitimacy within the organisation (Tracey & Hinkin, 1994). However, the theory works best in several assumptions namely; the highly structural organisation, employees are motivated by rewards, high tendency for guidance and monitoring among the followers. In other words, transactional leaders negotiate to followers what objectives are required to be achieved by the company. They negotiate the conditions either by providing rewards for accomplishing the objectives or threats of punishment for poor performance e.g. cut the bonus and suspension of promotion (Moore & Rudd, 2006; Bass, 1990). Further investigation on Transactional Leadership by Avolio & Bass (2004) described to consist of three factors namely; contingent reward leadership, management by exception (active) and management by exception (passive) which is simplified in Figure 1. Contingent Reward Leadership is a constructive transaction whereby the leaders reward the employees based upon their success and employees punished if they failed to perform. With the agreement made between the leader and employees...
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...development, the supply of labour, political developments in society and other factors relevant for how organizations manage their business. 1 2013 Fall semester To a large extend strategic work is about understanding these factors and reinterpreting them so that they become assets rather than restrictions. Business strategy and marketing management concepts and techniques are studied. The course serves as an opportunity to develop skills for environmental and market analysis, understanding of the major business and marketing strategy issues, formulating business and marketing strategies and tactics. Course aim Students are going to discover knowledge and apply skills enabling them to help organizations to meet and manage significant threats and challenges. Students will learn how to analyse environment and company’s resources, generate strategic alternatives and to select the most appropriate alternative for particular circumstances. Students will learn and apply provide students the fundamental knowledge of strategic and marketing...
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...STRATEGY 2015 Articles | Books & Chapters | Cases | Core Curriculum Course Modules | Simulations | Video Harvard Business Publishing serves the finest learning institutions worldwide with a comprehensive catalog of case studies, journal articles, books, and elearning programs, including online courses and simulations. In addition to material from Harvard Business School and Harvard Business Review, we also offer course material from these renowned institutions and publications: ABCC at Nanyang Tech University Babson College Berrett-Koehler Publishers Business Enterprise Trust Business Expert Press Business Horizons California Management Review Crimson Group USA Darden School of Business Design Management Institute European School of Management and Technology (ESMT) Haas School of Business Harvard Kennedy School of Government Harvard Medical School/Global Health Delivery HEC Montréal Centre for Case Studies IESE Business School Indian Institute of Management Bangalore Indian School of Business INSEAD International Institute for Management Development (IMD) Ivey Publishing Journal of Information Technology Kellogg School of Management McGraw-Hill MIT Sloan Management Review North American Case Research Association (NACRA) Perseus Books Princeton University Press Rotman Magazine Social Enterprise Knowledge Network Stanford...
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