Evaluation Of The Simulation Weekend Essay

“When the simulation began, we felt confident in our team’s vision, goals, and strategic plan. After the first rollover, we quickly became aware that the success of a company relies heavily on the dynamics of the market. The strategic decisions of competitors weigh heavily on the overall direction of a company. Our original plan quickly became obsolete in the tumultuous bike industry, and we were forced to re-evaluate our competitive positioning. To this end, we learned

The Supply and Demand simulation was reviewed on the student website demonstrated the concepts of the concepts of microeconomics and macroeconomics. The principles of microeconomics and macroeconomics were explained and applied throughout the simulation demonstrate the rationale for the shifts in the supply and demand curve. Each shift is analyzed showing the effects of the equilibrium price, quantity, and decision making process for the simulated company represented. The concepts encountered in the simulation provide an opportunity to better understand how each can be applied to my current workplace. The Scenario provides an

We adjusted focus to our niche market, sold off capacity in the low end and traditional markets, and proceeded to decrease our production going into the next round. While selling capacity was the correct financial decision to combat our emergency loan, we were then left with stock outs in all of our product lines. As a result, we continued to struggle with overproduction and avoiding stock outs, but made improvements resulting in less drastic inventory swings in the later

* Forecasting is an impartial strategic ingredient that will ensure apt base for reputable planning. Our forecast is always the first step in developing plans in running the business along with our future plans of growth strategies. With this tool, we are able to anticipate our sales within reason that then can allow for us to control our costs in conjunction with inventory which will then help us to enhance our customer service. Sales forecasting is a vital strategic tactic in our company’s methodology.

If was to make a tradeoff between being on schedule or under budget, I would choose to be on schedule even though I would be under budget. I came to this realization with the circumstances of the simulation. Which made me think I wouldn’t want to meet a happy medium between the two and be behind in both aspects so I would chose to stay on schedule and continue production and be able to come back from being under budget by selling the desired product on time with the possibility of out selling my competitors and possibly having a positive budget compared to have a budget and being behind schedule and losing my chances of out doing my competitors and being in a profitable situation.

Since quarter one was the first quarter of this simulation, I was unaware of how difficult it was going to be to make all the different decisions. Firstly, I had to choose a Company name. Because I was selling computers, I thought that the name “Dev-Tech” was a perfect fit being that this simulation was about development and technology. Next, I had to choose a target segment. I knew going into this simulation that it would be better to invest in the more expensive goods as it would benefit me in the end. The segment that didn’t care about price was Mercedes, so that is the segment that I made my first priority.

We were four in our group and we were given a scenario of a patient who was having an anaphylactic reaction from bee sting venom. The group agreed that I will be the primary nurse. As the primary nurse, I knew that I had to lead and supervised our group in responding to the emergency situation at hand. Having played the role of a primary nurse in this simulation, I have gained meaningful experience, which I can use in my future nursing practice.

The strategy I chose for the simulation is “Niche Cost Leader." First, with the key focus being value, this strategy will challenge me to keep costs at a minimum and force me to streamline overall costs to produce a valuable commodity that, in turn, will generate financial success that can be shared with internal and external stakeholders. Second, as the success of this strategy primarily relies on the existing product line being prosperous, I will be able to practice and hone my forecasting skills based on one product. Though I eventually will produce more than one product, most of the simulation will be conducting under making the primary product as successful as it can be, and reliable forecasts are

Initially, our firm’s business position was at a healthy position. In the beginning of the simulation, our overall market share for the automobile industry was 28.2%; the highest in the market. We realized that our primary strength from product contribution came from our economy car Alec with 63.5% market share for economy cars, and from our utility car, awesome with a 48.5% market share for its vehicle class. Thus, it was evident what we needed to do; maintain high market share of our leading cars while conforming our least profitable vehicle class sustainably to coordinate to customer demand.

Despite the age and immensity of the Universe, we have not been visited nor been contacted by extraterrestrial beings because we are a part of a computer simulation. According to the Simulation Hypothesis, theory provided by Nick Bostrom, humans are unaware of being part of this computer generated simulation. The most compelling piece of evidence that supports this hypothesis is the fact to one can consider a sequence of possible situations which an increasing fraction of all people live in simulations becomes more accurate. (Bostrom 1)

Hospitals are working towards a more team-based training. The last couple years most of my training has been in a simulation lab. I feel it improves communication, teamwork, reinforces skills and new practices. Hands-on simulation experience allows healthcare workers to get messy, make mistakes and sharpen problem-solving skills — with no risk to patients. As nurses, we collaborate with each other on a daily basis but we are trained and tested individually on our skills, theory, and practical situations. As healthcare evolves, stimulation labs should be part of all healthcare works training and testing, that way everyone is better prepared to handle real time events.

 Use the Confidential Information with the financial data and valuation tools in the Simulation to

As I get further and further along in this simulation, I have noticed that I am beginning to understand what it takes as a marketing manager in order to be successful. Careful considerations must be made to be sure that the right decisions benefit both Minnesota Micromotors, Inc., and our customers. Our success comes from our customers’ success and loyalty that they have with this company. In finding ways to incorporate the important factors that matter most to our customers is what will bring in new customers and keep our existing ones around for the long hall.

This paper explains the use of economics in managerial decision making based on the simulation. It describes decision making process of management in different market structures. The main objective of an organization is to maximize the profits in each type of market structure. Quasar Computers has done extensive research for the development of optical notebook. In the Year 2003, the company launched the first all-optical notebook

Simulation modelling is the procedure of developing and analysing a prototype of a physical model to predict its behaviour and performance in real-world or over time. A model represents the system itself and the simulation represents the operation of the system over a specified time period. It can be used to show the effects of possible conditions and the sequence of action. Modelling and simulation helps obtaining information about how a system will perform without testing it in real life. It shows any flaws in the design and reduces potential errors with the system itself, as well the operation of it. Also, validates the safety and durability of a physical prototype. This reduces the costs and increases the quality of products and systems.