University of Bedfordshire
University of Bedfordshire
Faculty of Business
MBA
Unit Title: Management Practice
Unit Code: BSS063-6
Simulation Report
BY
MODUPE ODUNARO
STUDENT ID:2115507
Table of Contents
1.0 Introduction3Analysis and implementation of theories4The formulation of strategy and key performance indicators 4Functional area analysis of Green Spokes8The organization9The operations11The marketing and Sales13The development and research154.0 Conclusion of the report155.0 Recommendations for the report166.0 References161.0 Introduction
The company - Green Spokes makes bicycles and has produced both commute bicycles and recreational bicycles for a wide variety of riders. For three years the company consistently produced these bicycles. The founders of the company carried out a management handover in order to take control of the operations of the company and recover it over the next two years. (Alhawamdeh and Alsmairat, 2019) noted that the goals of a business are to meet the anticipated demand by reviewing and implementing strategic decisions that will enable market penetration, market share increase, profit maximization, minimization of cost and attain predicted demand.
The companys (Ride On) vision is to be the leading manufacturer in the bicycle industry, and a mission to have lasting relationships with our customers and will be more innovative and stand apart with our product designs, efficiency and affordability. These helps to understand why the company is so driven to offer competitive pricing and to sustainably expand its product line in order to increase and preserve both its value and its profitability for all its stakeholders (Whittington et al., 2020). The objectives are increase sales by at least 40% in 2years (this was achieved) increase the company efficiency by at least 5%in 2years, improve the efficiency of our operations by 5% in 2 years.
This report covers the first two years of new management (Ride On) at the bicycle manufacturing company Green Spokes and details the company's significant business, strategic, tactical, and operational decisions and their subsequent performance. This would be achieved by using appropriate theoretical frameworks to describe and account for corporate, business, and operational strategies, sales and marketing methods, R&D initiatives, leadership, and HRM practices. The strategic strategy would be used to develop a business model canvas, which would catalogue crucial company data and resources. In addition, the study will use the Ansoff matrix to talk about the corporate level strategy and the Porters Generic strategy framework to talk about the company level strategy.
Analysis and Implementation of Theories
According to Thompson et al. (2014), development and earnings of a company depend on strategic planning. It's the cornerstone of company operations, delivering corporate objectives and strategy. Strategic planning is debated in organizational planning because its success might be altered by unforeseen occurrences (Lynch, 2012). It's generally acknowledged that it boosts competition and organizational goal setting. Ride On company strategy and performance relied heavily on strategic planning, which will be analyzed using relevant theoretical frameworks.
The Formulation of Strategy and Key Performance Indicators
A Business Model Canvass (BMC) helps illustrate key elements and increases the team's ability to analyze business activities and effects (Osterwalder et al., 2014). Hence, the BMC provides a holistic view for value development, delivery, and capture through nine basic blocks. Ride On business model canvas was built using the company's results when Y3Q4 was sold. This information was used as a foundation to build off in order to redefine the company's objectives in order to meet the targets for the next eight quarters. The company and target markets, manufacturing capability, personnel and material resources, expanding demand, product design, and overall value offer were all beneficial in the trading position that was inherited. This data was utilized in the development of the BMC, which can be seen in figure 1 below:
Business Model Canvas Designed for: Designed by: Date: Version
Ride On Modupe 10/10/2022 N/A
Key Partners Key Activities Value Propositions Customer Relations Customer Segments
Investors Manufacturing products
and selling through Bicycles of the highest technological caliber At the point of sale,
registration Young professionals, student and families
Providers of material direct sales through retail outlets manufactured by a
reputable for after-sales support
is available Staffing firms Online sales. brand, and
able to perform to new
and Retailers dependably.
old customers Suppliers
Finance Providers Customer assistance through phone, internet and on-site product sale Toll-free phone lines Regulators High priority on maintaining good customer care. Key Resources Channels Workers are skilled Online customer center In terms of production equipment, they are advanced. Offline customer center Established Retailers.
Available production station. Supervision of customer care representative to ensure quality care. Access to financial assets. Customers are loyal to the brand name. Cost Structure Revenue Streams The business invests in people, technology, sales, promotion, and operations. This ensures dependable manufacture of standardized bikes at low prices. The sale of bicycles contributes to the company's revenue. Figure 1, Source: Authors Conception
BMC allows team members to analyze diverse business sectors through social interaction, testing hypotheses and polishing business concepts and judgments. The team established a strategy plan to achieve the specified goals and met level two targets of 1m valuation at Y5Q3, a 280% increase. Figure 2 demonstrates the valuation growth as output and sales rose.
Value and sales charts of the company
Figure 2.
In (Figure 3), it depicted by the development plan of the company, which Ansoff Matrix demonstrated the other options of growth strategies with regards to Ride On existing goods and its markets, including the company future products and markets (Pillkahn, 2008). The companyachieved market penetration with a price strategy based on existing Street-smart bicycles. Cost leadership offers modest risks and tremendous possibilities for improved sales and market share. Product enhancement in the present market increases the company's market share through customer contact and production technology investment. This method raised output, sales, revenue, firm value, and profits by 20%.
Ansoff Matrix for Ride On
NEW MARKET NIL NIL
EXISTING MARKET Utilizing Street-smart Bicycles to achieve market share Improved lightweight street-smart Bicycles for product design and improvement
EXISTING PRODUCT NEW PRODUCT
Figure 3, Source: Author Conception
Business level strategy or business advantage, is how companies do business in marketplaces, requiring innovation and adaptation to rivals' positions (Johnson et al., 2017). Porter's Generic Strategy helps companies examine cost- or differentiation-based competitive advantages. Porter (1980) says generic tactics center upon organizations competitive advantages. Ride On Streetmart product gained market dominance through cost leadership, and the new lighter version at low pricing maintained its competitive edge. Increasing production levels increased economies of scale, market share, income, and profitability.
Ride On adoption of Porter's Generic Strategy as the company's overarching business approach.
COST LEADERSHIP STRATEGY DIFFERENTIATION STRATEGY
COST FOCUS STRATEGY DIFFERENCIATION FOCUS STRATEGY
Figure 4, Source: Porter (2004).
The accomplishment of Ride On during the time was favorable, as evidenced by a gain of almost 200% in firm valuation, production, sales, and profits. This may be due to increasing manufacturing as well as product improvements brought about by research and development, which led to a rise in customer demand for the streetsmart product. Around thirty percent of the market share that had been lost to several other competitors was gained by the corporation.
Ride On missed earnings and production expectations in the past quarter. This is partly the result of a lack of available space and the decision made by the team not to invest in relocating because doing so would have a negative impact on their output and cash flow in the short term.
Functional Area Analysis of Green Spokes
The company is organized into four (4) divisions, each of which is responsible for a different facet of the implementation of the strategic plan. These are the organization, sales and marketing, research and development, and operational aspects of the business. The ensuing conversation would Centre on the performance of these departments and their contributions over the period.
Organization
This division oversees the distribution of resources, which includes concerns pertaining to location, finances, equity, and sustainability. Other types of resources include people and equipment resources. These were important factors that determined how well the company did.
Human resources:
The operations were operated with mostly permanent personnel and a few contract staff. This is to save expenses, as external staff hourly rates are more than permanent personnel. It also improves morale and reduces setbacks associated with external workers, such as distractions from unfamiliarity and a lack of belonging (Barojek & Guest, 2019). Well-trained and motivated permanent personnel have helped boost pre-handover production (Ceylan &Yava, 2020). E-Learning training was expensive for the company. At the start of the new management, it was decided to cut costs through on-the-job training, where more experienced personnel would instruct less experienced ones. This strategy has been successful (Konings &Vanormelingen, 2015).
Each quarter, human resource needs were examined and adjusted based on the next quarter's output goals. These modifications kept salary bills in line with input costs and reduced redundancy waste (Ifeoma et al., 2019).
Facility Location:
Due to its significant impact on both costs and accessibility to customers and suppliers, location planning is an essential component of successful business operations. The marketing strategy known as the "4 Ps" places a strong emphasis on selecting an appropriate location for a company's operations, which in the case of Ride on includes the site of its production facilities (Gitman et al., 2018). The place that was passed down to me is in a more rural setting, and it has only the most fundamental conveniences, the least expensive property prices, and an average level of sustainability. However, the location continued to be an opportunity for cost savings for the company as it was discovered over the course of the quarters run.
Production levels attain a stage where the facilities were exploited above their specified peak output, the idea of shifting to some other larger location appeared to be both costly and time-consuming owing to the amount of operating disruption that it would need. Because the production levels remained reasonably within demand and sustainable stock levels, were accessible to both suppliers and distributors, and were constantly profitable throughout the period as was to be expected based on the experience of factories of a similar scale that are cautious of sustainability, the production was kept in the same location as it had been previously (Moellmann & Thomas, 2019).
Borrowing:
There was access to overdraft by financiers regardless, the directors of the company seem not convinced enough that it was imperative to take out a loan because the company's turnover as well as its trade receivables and payables were within acceptable limits and did not adversely affect the working capital (Gowthorpe, 2018 pp. 81). Borrowing was a viable option for financing the move, but the board ultimately decided against it because of the high cost of loans and the potential impact on profitability.
Credit control:
As was said in the section on borrowing, the number of days that the company was in debt was within acceptable parameters and did not place a considerable strain on the working capital. The average number of debtor days for retail outlets, which included both small and big merchants as well as online retailers, was 42, which is within the range of acceptable industry norms (Kaiser and Young, 2009). Follow-ups for payments are done on a constant basis but are limited in order to reduce the expenses associated with more aggressive follow-up methods. However, over this time period, there was not a single instance that needed costly legal choices.
Sustainability of Ride On:
The company is committed to becoming a sustainable manufacturing company by sourcing its raw materials from ethical and environmentally responsible vendors. This strategy is in line with global best practices, which require that management give sustainability the highest priority when choosing a vendor. Ethically obtained raw materials cost more but boost the company's goodwill and consumer base (Zhan et al., 2021). Other business components earned 50% on sustainability, whereas supply got 70%.
Operational Activities
The operational part of the firm was a primary factor, hence the performance or failure of the company, as the quarterly results were highly influenced by operational decisions. of the success or failure of the company. Heizer and Render (2014) identified ten (10) operational domains to aid operational decision making. The implications are described more accordingly.
Goods and Services Design Concept:
Market data of the company
914400199878
Figure 5, Source: Simventure (2022).
It was determined that bicycles with less weight were in high demand considering sustainability concerns as well as data made accessible through R&D, as seen in figure 5 above. As a result, product design was revised to reduce weight to meet customer demand. This contributed to an increase in sales in succeeding quarters, which was consistent with the historical trends of the industry (Mahmoud, 2018).
Quality Management Process:
According to (Oakland, 2014) total quality management (TQM) demands quality for all stakeholders. On-the-job training was also implemented owing to its effectiveness (Konings & Vanormelingen, 2015). Post-production inspection resources were lowered as the workforce's skills and morale remained strong. Returns cost the company 10,000, which is modest compared to earnings. The return-to-sales ratio must be reassessed in the future.
Process and Capacity Design:
This was constantly changed due to present operational requirements to manage expenses. Production facilities and resources were continuously used up to 98%. Effective process and capacity design enhances corporate efficiency and productivity, according to Slack et al. (2016).
Supply Chain Management:
Effective supply chain management boosts a company's efficiency, competitiveness, and production (Salehzadeh et al., 2020). The supply chain was managed sustainably, as stated in the sustainability section. Storage, manufacturing, and sales numbers were regularly evaluated. Billings was the 4Q2 supplier.
Large-order incentives and improved human resources and equipment raised demand. This changed storage capacity and placement strategy. Sales and earnings grew, mitigating the change's negative consequences.
Inventory Management:
Inventory management ensures items are available when and when needed (IBM, 2022). To improve inventory management and profitability, product design, labor sources, suppliers, and distribution channels were altered. LEAN inventory management reduced time and resource waste to enhance value (Slack et al., 2016). Hence it was implemented. Both the location and the strategy for the use of human resources have been covered in the preceding section on the organization.
Sales and Marketing
The department of sales and marketing made a significant contribution to the demand for the items as well as the sales that followed. During the period, a review was conducted of the market research, sales channels, and promotion, as will be emphasized below.
Market research of Ride On:
The company established a cost-leadership approach that was continued by the new management. Students and young workers who often commute on the road, with or without families, were the primary focus of this campaign. This decision was made with the assistance of market research, which ultimately resulted in the redesign of the product in order to lessen its overall weight, appeal to a bigger audience (including early retirees) and keep its price competitive. These things kept revenues flowing as expected when a company does market research (Hague, 2021), but they did not increase market share.
Sales Channels:
Gitman et al. (2018) used the 4Ps of marketing to emphasize the importance of business points of contact and sales channels. We sold the goods through four channels. Direct sales, online platforms, and small stores were also important. Online presence and purchasing might help organizations influence client buying behaviour (Kim et al., 2022). Figure 6 shows a steady increase in internet sales. Product design and price competition drove sales, reducing sales and marketing expenditures.
Online sales and value of retail market graph.
914400202195
Figure 6, Source: Simventure (2022).
Promotion:
Promotion is one of the 4Ps of marketing, like sales and marketing (Gitman et al., 2018). Promotions included TV, radio, and PR. According to Kim et al., internet presence is crucial to business success (2022). This knowledge led to additional social media and web advertising spending.
R&D Implementation
Technology Applied to Product:
Figure7, Source: Simventure (2022).
The market segment of RideOn relates to daily commuters of young professionals and student produced the need to alter product design to make them lighter for everyday usage and ability to handle by all users, such as retired people. This was accomplished by removing unnecessary components from the product. In terms of comfort, there was some forward movement, but the most success was achieved in terms of reducing the amount of weight. Throughout the course of the time, sales increased, and a close profit trend was seen.
4.0 Conclusion
RideOn market penetration approach has helped it compete in the road commuting sector. The company's strategy plan ensured future business continuity and development. The purpose, vision, and objectives enhanced quality, capacity, sales, revenue, firm valuation, and profitability.Weight-reduction technology increased the product's handling and attracted early retirees. RideOn maintains cost leadership in its present market and can expand to retain it. These indicate an effective company and corporate strategy (Abrams, 2010).
5.0 Recommendations
Even while significant advancement has been achieved over the course of the time, along with the positive outcomes that have accompanied it, there are still certain things that could be done to maintain and increase growth, market share, and profit.
To accommodate a greater production capacity, the companyshould implement a relocation strategy that is efficient in terms of cost (Heizer & Render, 2014).
The company should re-evaluate their approach for product inspection in order to cut down on the rising quantity of returns (Ivan et al., 2017).
Discover various promotion alternatives to improve market share.
The company should Increase their spending on research and development to broaden product offerings and appeal to a more diverse range of consumers (Song et al., 2018).
6.0 References
Abrams, R. (2010). Successful business plan: secrets & strategies. 5th ed. The Planning Shop. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b1465902&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed: 9 October 2022).
Alhawamdeh, H.M. and Alsmairat, M.A., (2019). Strategic decision making and organization performance: A literature review. International Review of Management and Marketing, 9(4), p.95.
Ceylan, C. and Yava, H.G. (2020) What Affects Employee Motivation at IT Projects in Turkey? The Impact of Leader Communication, Wage Satisfaction, and Job Opportunities at It Projects Employees, Balikesir University Journal of Social Sciences Institute, 23(44), pp. 10411067. doi:10.31795/baunsobed.693187.
Gitman, L.J., McDaniel. C, Shah. A, Reece. M, Koffel. L, Talsma. B and Hyatt, J.C. (2018) Introduction to Business. OpenStax. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=edsopx&A N=edsopx.introduction. business&authtype=sso&custid=s5099118&site=eds- live&scope=site (Accessed: 7 October 2022).
Gowthorpe, C. (2018). Business accounting and finance [electronic resource]. Fourth edition. Cengage. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b2157322&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed: 5 October 2022).
Hague, P., (2021). Market research in practice: an introduction to gaining greater market insight. Kogan Page Publishers.
IBM (2022). What is inventory management and how does it work? | IBM. [online] Available at: <https://www.ibm.com/uk-en/topics/inventory-management> [Accessed 7 October 2022].
Ifeoma, A.R., Mukhtaruddin, M. and Prihanto, J.N., (2019) Effects of downsizing on employee performance of selected Manufacturing Firms in Anambra State, Nigeria. Research in World Economy, 10(3), pp.391-407.
Ivan, R.,Ilenia, C., David M. G, and Nicola, C. (2017) The combined effect of product returns experience and switching costs on B2B customer re-purchase intent, Journal of Business & Industrial Marketing, 32(5), pp. 664676. doi:10.1108/JBIM-06-2016- 0129.
Johnson, G., Whittington, R., Regner, P., Scholes, K., & Angwin, D. (2017) Exploring strategy [electronic resource]: text and cases. Eleventh edition. Pearson. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b1805110&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed 7 October 2022).
Kaiser, K. and Young, D., (2009). Need Cash? Look Inside Your Company. [online] Harvard Business Review. Available at: <https://hbr.org/2009/05/need-cash-look- inside-your-company> [Accessed 9 October 2022].
Kim, C., Kim, W. and Nakami, S., (2022). Do online sales channels save brands of global companies from consumer boycotts? A geographical analysis. Journal of Retailing and Consumer Services, 68, p.103069.
Konings, J. and Vanormelingen, S., (2015). The impact of training on productivity and wages: firm-level evidence. Review of Economics and Statistics, 97(2), pp.485-497.
Lynch, R.L. (2012) Strategic management [electronic resource]. 6th ed. Pearson. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b1608471&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed 7 October 2022).
Mahar, S., Salzarulo, P.A., and Wright, P.D. (2018) Simultaneous use of customer, product and inventory information in dynamic product promotion, International Journal of Production Research, 56(12), pp. 42834299. doi:10.1080/00207543.2017.1412529.
Mahmoud, T.O., (2018). Impact of green marketing mix on purchase intention. International Journal of Advanced and applied sciences, 5(2), pp.127-135.
Moellmann, J. and Thomas, V.M. (2019) Social enterprise factory location and
allocation model: small scale manufacturing for East Africa, Socio-Economic Planning Sciences, 68. doi: 10.1016/j.seps.2019.02.009.
Oakland, J.S. (2014) Total quality management and operational excellence [electronic resource]: text with cases. Fourth Edition. Routledge. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b1684573&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed 7 October 2022).
Osterwalder, A. Pigneur, Y., Bernarda, G., Smith, A. (2014) Value proposition design [electronic resource]. Wiley (Strategized series). Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b1738700&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed 6 October 2022).
Pillkahn, U. (2008) Using trends and scenarios as tools for strategy development
[electronic resource]: shaping the future of your enterprise. Publicis. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b1738595&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed 7 October 2022).
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. In: New York: free press.
Salehzadeh, R., Tabaeeian, R.A. and Esteki, F. (2020), Exploring the consequences of judgmental and quantitative forecasting on firms' competitive performance in supply chains, Benchmarking: An International Journal, Vol. 27 No. 5, pp. 1717-
1737, available at: https://0-doi-org.brum.beds.ac.uk/10.1108/BIJ-08-2019-0382
Slack, N., Brandon-Jones, A. and Johnston, R. (2016) Operations management. [electronic resource] Nigel Slack, Alistair Brandon-Jones, Robert Johnston. 8th ed. Pearson. Available at:
https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b1789535&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed 8 October 2022).
Song, M., Pan, X., Pan, X. and Jiao, Z., (2018). Influence of basic research investment on corporate performance: Exploring the moderating effect of human capital structure. Management Decision.
Thompson, J.L., Scott, J.M. and Martin, F. (2014) Strategic management [electronic resource]: awareness and change. Seventh edition. Cengage Learning EMEA. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b1685708&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed 7 October 2022).
Whittington, R. Regnr, P, Angwin, D, Johnson, G, Scholes, K, Whittington, R, Regnr, P, Angwin, D, Johnson, G, & Scholes, K (2020). Exploring strategy [electronic resource] text and cases. Twelfth edition / Richard Whittington, Patrick Regner, Duncan Angwin, Gerry Johnson, Kevan Scholes with the assistance of Jason Evans, Clive Kerridge. Pearson. Available at: https://search.ebscohost.com/login.aspx?direct=true&AuthType=sso&db=cat01212a &AN=ubed.b2184061&authtype=sso&custid=s5099118&site=eds-live&scope=site (Accessed 7 October 2022).
Zhan, Y., Chung, L., Lim, M.K., Ye, F., Kumar, A. and Tan, K.H., (2021). The impact of sustainability on supplier selection: A behavioral study. International Journal of Production Economics, 236, p.108118.
Zofia Bajorek and David Guest (2019) The impact of temporary staff on permanent staff in accident and emergency departments, Journal of Organizational Effectiveness: People and Performance, 6(1), pp. 218. doi:10.1108/JOEPP-09-2018- 0074.
Word Count: 2973
-38100-550545
Submission Deadline Marks and Feedback
Before 10am on:
9th of December 2022 20 working days after deadline (L4, 5 and 7)15 working days after deadline (L6)10 working days after deadline (block delivery)
422853026300452880085040
Unit title & code Management Practice BSS063-6
Assignment number and title 1. Report on Simulation
Assignment type Written Report
Weighting of assignment 100%
Size or length of assessment
3,000 words (+/- 10%, max 3,300 words)
Unit learning outcomes Demonstrate a systematic understanding and critical appreciation of theories in the MBA toolkit to challenge existing preconceptions and develop positive and enquiring approaches to management and enterprise
Demonstrate intelligent practice by imaginatively and critically integrating theory and practice, stipulating areas of excellence and reflecting on areas for development to improve performance in a dynamic competitive environment
-819152292905
What am I required to do in this assignment?
The assessment strategy supports the emphasis on experiential and enquiry-based learning in progressively supporting the effective integration of theory and practice to facilitate your transition into the professional work environment. You will participate in a competitive business game designed to simulate a realistic management situation. You will engage in the simulation as part of a group and as team of Directors, over successive periods you will monitor the performance of your own business and the competition, adjusting your strategic and tactical decisions accordingly.
The performance of your team and the final outcome will depend on how effectively you apply theory in practice to support critical analysis and evaluation in context. Your aim is to enact informed problem solving and identify opportunities as a result of your clear decision making. You will need to draw extensively on theories and techniques from your MBA toolkit through taught units, including specific questions regarding your vision, mission, objectives, strategic planning, decision making and key take-always, such as:
Strategic Management
Marketing
Human Resource Management
Performance management
Operations Management and Finance
will need to be addressed as a minimum and you will also have the opportunity to highlight other areas of your own choice
You will be assessed on an individual report. This demands in-depth critical analysis and evaluation of theory in practice leading to clear conclusions and feasible recommendations. Your individual report should be 3,000 (+/- 10%) words and cover:
On the effectiveness of your individual performance in making team decisions
Consider, how theory which you have learnt on the course was demonstrated both in your decisions and how as a team your final recommendations emerged.
Your report must be fully supported by directly relevant quality academic sources in demonstrating the integration between the theoretical academic frameworks and your strategy, planning, decision making and overall performance of your organisation during the simulation. A key aspect of the assignment is that you evidence a clear link between the strategy you adopt during the simulation and the various academic frameworks you have been studying throughout your MBA units to this point in time.
What do I need to do to pass? (Threshold Expectations from UIF)
There are three things you must do to pass:
Show adequate independence of thought in evaluating the usefulness of theory in practice applied to a live consultancy project or a simulated task of running a business, monitoring performance and adjusting decisions in the light of the success or failure in a competitive environment
Demonstrate adequate appraisal of the complexity of management in the implementation of strategic decisions
Research, select and use creatively appropriate business and management theory to manage and complete a project in the context of a new situation
These three expectations are reflected in the marking criteria grid below (see the Marks and Feedback section). All three expectations are embedded in and linked to the various areas of marking but especially the application of theory and analysis sections. The selection of relevant key academic material (theories and frameworks) from the MBA Toolkit to the task set by the simulation is essential.
How do I produce high quality work that merits a good grade?
We will be filling this section in together in class on (date to be arranged with tutor) make sure you have downloaded/printed out the Assignment Brief and bring it to the session with you.
Produce a professional and compelling report that draws on the theories and frameworks from the MBA toolkit to evaluate the performance of your organisation during the business simulation. Assignments attracting the highest marks will be focused, analytical, will include critical analysis that explores in depth the implications of the issues under discussion and this will be supported and evidenced thoroughly by using robust and valid academic material and frameworks from the MBA Toolkit. You must provide a clear introduction that provides a structure for your report and will highlight the main topics and areas for discussion; a main body that includes a critique and analysis of your decision making and strategy during the simulation in relation to your organisations performance; conclusions that are clearly derived from this analysis and recommendations that are clear and realistic to the demands of the task and nature of the business.
Presented as a professional report, make sure your submission is discursive, and analytical throughout, use appropriate frameworks to focus the narrative and draw on a good range of quality academic sources especially up to date academic journals - not spurious web-based sources. You should reference properly throughout your work using the Harvard Referencing style only.
How does this assignment relate to what we are doing in scheduled sessions?
The scheduled sessions begin with an introduction to the business simulation and the role you will play in it, it will also help to get you familiar with the layout and how it operates. Over a three-week period, you and your group will work through the business simulation creating, using and implanting various strategies you have been taught during the MBA course. During the scheduled sessions you will work with your tutor to discuss strategies, theories and academic frameworks that you may use to create a positive outcome for your business. The scheduled sessions will also address the requirements of the assignment.
You will need to outline the mission and vision of your business when you first began the simulation. You need to be clear regarding the strategies and theories (frameworks) you utilised during the simulation and link these to the outcomes and results and finally you need to make some clear recommendations regarding the business for its future success.
You will attract marks for good, critical analysis that links theory to practice, this is a key aspect of your assignment. During your MBA course you will have studied various units on Strategy, Finance, Marketing, Operations, etc. This unit and its assessment requires you to now utilise the various frameworks, models and theories you have studied in previous units and apply them to a real life business i.e. the simulation. These should link to the strategy you are proposing to use in order to achieve your mission, vision and ultimately your performance objectives. The scheduled sessions will allow you to discuss the many possible ways this can be done and help you with your final decision making. The success of your business will be reflected in the performance of your organisation during the simulation, this is determined by your decision making and strategic choices in relation to aspects of Marketing, Financial Control, Planning and Human Resources in line with Operations. The simulation will react to the decisions you make and will set challenges every organisation faces in the delivery of its mission. Use the limited scheduled sessions wisely to discuss and debate options and possibilities with your team and your tutor.
Organise your work and communicate professionally. Please ensure your submission is all your own work. Do not rely on internet searches. Do not use essay sites.
-254063500607060190500
How will my assignment be marked?
Your assignment will be marked according to the threshold expectations and the criteria on the following page.
You can use them to evaluate your own work and consider your grade before you submit.
Pass 40-49%
Pass 50-59%
Commendation 60-69%
Distinction 70%+
Introduction Adequate identification of the relevant issues and theories that will be used in the report, although no real framing and minimal signposting Some identification of the relevant issues and theories that will be used in the report although not well framed with some signposting
Clear identification of the relevant issues and theories that will be used in the report and a good attempt to frame and highlight the main issues with signposting Provides a clear introduction that identifies the relevant issues and theories that will be used in the report and clear framing that highlights the main issues through excellent signposting
Application of Theory Adequate evidence of attempting to research, select and use creatively appropriate business and management theory from the MBA toolkit in order to complete the project. Demonstrates limited understanding of key issues and concepts and limited evidence of wider research and independent reading that is relevant to the task
Good evidence of attempting to research, select and use creatively appropriate business and management theory from the MBA toolkit in order to complete the project. Demonstrates good understanding of key issues and concepts but with some evidence of wider research and independent reading that is relevant to the task Very good evidence of attempting to research, select and use creatively appropriate business and management theory from the MBA toolkit in order to complete the project. Demonstrates very good understanding of key issues and concepts and includes clear evidence of wider research and independent reading taking place that is relevant to the task Excellent evidence of attempting to research, select and use creatively appropriate business and management theory from the MBA toolkit in order to complete the project. Demonstrates excellent understanding of key issues and concepts and includes clear evidence of substantial research and independent reading taking place that is relevant to the task
Analysis Shows adequate independence of thought in evaluating the usefulness of theory in practice through monitoring performance of the organisation and provides adequate evidence of strategic decision making. Analysis is overly descriptive, uncritical with minimal academic support Shows good independence of thought in evaluating the usefulness of theory in practice through monitoring performance of the organisation and provides good evidence of strategic decision making. Analysis is descriptive in areas and limited but coherent and supported by some academic evidence Shows very good independence of thought in evaluating the usefulness of theory in practice through monitoring performance of the organisation and provides clear evidence of strategic decision making. Includes a critical analysis that is not descriptive and attempts to explore implications of the issues raised and is supported by appropriate academic evidence. Shows excellent independence of thought in evaluating the usefulness of theory in practice through monitoring performance of the organisation and provides clear evidence of strategic decision making. Includes an in-depth critical analysis that explores, in depth, the implications of the issues raised and is supported by appropriate academic evidence throughout the report evidencing clear independent research
Conclusions Conclusions are relevant to the content of the report however their validity is unconvincing Conclusions are relevant to the content of the report however limited and not entirely convincing Conclusions are derived from the critical analysis, are relevant and convincing Conclusions are valid, convincing and clearly derived from the in-depth critical analysis and provide a clear synthesis of the report
Recommendations Recommendations are vague. Doubtful feasibility for the issues at hand with without detail Recommendations are reasonably clear and mostly realistic but lack detail Clear and appropriate recommendations that are realistic and provide some detail Clear and appropriate recommendations that meet precisely the demands of the task and are detailed and specific
Presentation and ReferencingNot in report format. Few citations and a passable bibliography and reference list Well-structured in report format, sourced throughout and with an adequate bibliography and reference list Clearly and concisely structured in report format, sourced throughout and with a good bibliography and reference list Clearly and concisely structured in report format, sourced throughout and with a comprehensive bibliography and reference list
