Applied Business Simulation Analysis

McGraw-Hill Education has designed a series of learning games specifically targeting students to improve their experience in a virtual like work scenario. One of them namely Practice Operations would be discussed in this essay. Practice is a sequences of games which are planned to incorporate immersive learning encounters and rich evaluation capacities. In this practice operations simulation, there are 6 modules. To begin with, first module namely The Production Process, I have learned how to prioritise decisions based on the client requirements. I aced how to organize the production tasks as per the client’s necessities, how to manufacture and ship products based on the deadline and also by maintaining the maximum production percentage in the production process. The Second module which is called managing suppliers includes ordering for raw materials like for instance cotton, denim and silk. It helped me understand how to optimize our order based on the factors like quality and lead time. The third module is known as forecasting and contracts, which showed the significance of the understanding the idea of forecasting the demand of the up-coming seasons. This module entirely was based on the procurement process. In this module, you will decide on which contracts to pursue, and enhance their receiving, production, and shipment departments likewise. Therefore,

In Singapore Exchange and Australian Securities Exchange, there are various characteristics in them. We will now take a look at the Trading System which they use. For Singapore Exchange, they launched SGX Quest (SGX Quotation and Execution System) in August 2004 and it is being used for derivatives and securities trading. As for Australian Securities Exchange, ASX Group has two trading platforms – ASX Trade, which facilitates the trading of ASX equity securities and ASX Trade24 for derivative securities trading.

Because Tim is without a business degree, he is not well-equipped to operate a business properly. Research online and in other places has provided him with a good deal of knowledge, but it has not given him enough of an advantage to compete with his degreed counterparts. Since that is the case, Tim needs two things: a business degree (or at least all of the information he would learn in acquiring said degree), and someone who already knows the needed information to partner with him for a period of time in order to make sure he is capable of handling his business correctly. Tim must learn more about marketing, since his efforts are not concise and professional enough just yet to really bring in the level of customers he needs and wants. He must address what sets him apart and show that value to everyone who sees his ads or comes into his shop. He must also learn more about financial aspects, because he is not yet clear on the financial statements of his company and how to determine how much money he is actually making. Until he focuses in on those kinds of issues, he will not be successful because he will not see if he is gaining or losing. Once he knows that answer, he can then focus on the SWOT analysis and consider which issues he needs to address first in order to move his business forward successfully.

BIC is a product that has been extremely successful, offering items such as a low-cost disposable razor, and pens that add value to the user at an affordable price. BIC uses a strategy similar to the Niche Cost Leader Strategy. The Niche Cost Leader Strategy puts the main focus on positioning a product at an affordable price while still presenting value to its customers. My reasoning for using this strategy is that my products will be extremely useful and beneficial to its consumers; products like BIC and McDonalds are in extreme demand with the situation of today’s economy. To maintain this strategy, I will keep the costs that go into the

Performance analysis is an essential aspect to any business due to its evaluate performance. The goal of the performance analysis is to identify problems, understand the cause and make informed decisions. To do that, asking “why” is important. Why is my competitor making more sales? Why are sales slow? Why are my expenses so high? If you know why, you can make calculated decisions and advance the success of your company.

After eight rounds of simulation, we concluded that the introduction of new products across the segments was a necessity that could not be ignored if we were to remain competitive in this particular high tech market. Our competitors introduced products early on and such introduction took their tolls early on; our team was able to capitalized on these activities by making the necessary adjustments to the current product line

The second simulation workshop made me feel nervous and enthusiastic at the same time. I felt nervous in regards to participating and enthusiastic, because I knew the simulation was going to be a effective learning experience. The workshop commenced with an overview briefing similar to last week. The briefing involved an introduction and revision of the developing scenario, introducing additional characters and discussing the content which was ‘Top Down Bottom Up’. Following on, I observed the first simulation, and then played the role of Jane, the community youth worker in the second simulation. However, before the simulation began, a calming/meditation activity took place which I found to be worthwhile.

One great SIEM practice is deployment and infrastructure activation. When achieving SIEM implementation, its best to do this in steps instead of all at once. Those steps are installation, replacement, and expansion. Having a good document and management process will allow for easier implementation and maintenance. “Many SIEMs can automatically know the event log data via syslog SNMP community strings”.

There is a complex legal issue that has the attention of senior management at the Alumina Company. How that issue is handled will affect the way the company does business and its standing in the community. The purpose of the next few paragraphs will be to describe the company and its stakeholders, determine the values of the company, set the current situation, analyze the risk factors in possible solutions and present a best solution for Alumina to follow.

The discussion of the data I have considered and analysis of the impact on organizational objectives of internal and external labor supply predictions are organization’s current and expected organizational and HR policies and changes to the external labor force (general economic conditions, labor market conditions, occupational marker conditions). The external condition is the government policy which is also an impact on organizational objectives. The organizational future demand are trend analysis, ratio analysis, scatterplots and regression analysis and the predictive techniques used are nominal group technique and Delphi technique.

We also considered a simulation setting where the magnitude of differential expression among the set of differentially expressed genes was reduced. Moreover, we simulated a setting where we introduced an effect of a hidden variable which does not act as a confounder. The above-mentioned schemes are described

The marking will be based on your write-up rather than the specific scores or results in the simulation. This is because you may very well make mistakes when playing the simulation and yet learn from those mistakes. When you are done playing the simulation, you may very well be confused or even a bit frustrated by what happened to you, and that’s alright. The real learning comes from seeing the results of your actions or decisions (even if you make mistakes in your simulation

Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, financial analysis, market analysis, operations, teamwork and leadership.

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After the telecommunication in Singapore was fully liberalized in April 2000, SingTel’s performance had slipped in the following years. SingTel had been facing fall in the market share of both mobile and international telephony market from 56% in 2001 to 50% in 2002 and 95% in 2001 to 87% in 2002 respectively (Haracleous & Singh 2005).