Planning a Business Executive Team “Executive Team” is a business game in which we have been involved over six weeks; the business game consisted of 4 teams who formed 4 companies to compete in 5 separate trading areas. The game is an interactive game in which the decisions of 1 company have an impact on the other teams positioning as well as their own. Each team has a home trading area, these are areas 1 to 4 and there is a common area, area 5. All of the companies are free to trade in all of the areas. The advantage of trade in the home area is that transport prices are lower. We participated in the game for 6 weeks and had 7 periods in which we made decisions. The team in which I played …show more content…
The effect of our changes in period 1 where that sales in area 2 rose whereas in areas 1 and 5 sales dropped and in area 3 and 4 sales remained the same. In period 0 we had produced 817 however had only sold 775 and due to opening stock we closed with 232 units in stock, this was going to cost us in storage, if we could accurately predict a sales number we would save this unnecessary cost so we decided to produce 600 units which in turn gave us 832 units in total to sell and with any luck we wouldn’t be left with as many in storage. As for transport and distribution policy we decided that as we were in loss we shouldn’t yet invest in vehicles so we hired vehicles as this would save us maintenance costs. Our decisions for period 1 resulted in a dip in cumulative retained earnings (see appendix 6) whilst retained earnings rose (see appendix 5), we had made considerable profit however we were still in loss. From the results of periods 0 and 1 we then were slightly more informed of our markets so in period 2 we dropped
As a Professional Tennis Coach I want my students to be the best they can be in tennis, i use that mentality to try their hardest in everything they do. I also want to create future tennis pro’s, by training them everyday they can develop their game to get at least a college scholarship.
After seeing what choices my assistant, Sarah, would have made I continued the simulation when I encountered my first obstacle. Harvey, my choice for Assessor and Advisor was running into a conflict with the other team members because he was not available to them as much as they would have liked. I met with the team members and explained that Harvey had been given the technological tools necessary so that web conferencing would be able to take place whenever
For example, Able could have sold an additional 0.2% of the market segment units of 14,937 and Acre an additional 1.9% of the market of 21,715 units. Doing that math for each product and applying the sales price and contribution margin shows a potential increase in sales of $74,484 (a 32% increase) and a margin increase of $26,286 (126% increase). This would have increase our ROS from 9.0% to 15.5%, which would have been tops in the industry.
Q1: What are "make-to-order" (MTO) and "make-to-stock" (MTS)? Why did EA cakes want MTS over MTO? Do you agree with such a decision? Why or why not?
(b) How many units will Yabba have to sell next year in order for it to achieve the same profit that it did this year?
We celebrate the special way we treat and relate to our customers. We think retailing is all about customer experience, and that is what really differentiates us.
Number of operations per year = 6850 (considering the same as for the year, 1982)
In this paper I will discuss how a team/group can become a high-performance team/group, examine the demographic characteristics and culture diversity and the impact on the team/group behavior. I will also describe how demographic characteristics and cultural diversity contribute to or detract from high-performance groups or teams.
Many organizations today believe that the use of work teams will allow them to produce better products and provide better services, faster, and at lower costs. Using a work team approach can reinvigorate productivity and service provider motivation, and better position an organization to deal with a rapidly changing environment. However establishing effective work teams is not something that comes easy. Though, the benefits of effective work teams within an organization are very substantial, it takes alot of hard work and dedication on the part of management and team members to develop, implement and maintain effective work teams.
The area of team leadership attracts a lot of attention in the modern world because of the need to assemble and deploy diverse teams for the completion of projects. The future of many corporations relies more and more on the kind of team leadership they have for their projects. This paper explores a number of facets that constitute effective team leadership.
Business Administration The idea of studying business administration has appealed to me greatly and has encouraged me to further develop my education following this path. I have a keen enthusiasm to pursue a degree in Business Administration as I enjoy the challenges it sets and find the many different areas of business you are able to branch out into, very exciting! From research about the subject I'm expecting to greatly further my learning of how businesses operate and be able to then put my knowledge into practice. I am confident within myself and find communication with others easy.
A team leader’s role is to instruct a group of people, providing directions and guidance to the team in order to ensure the completion of tasks. A good team leader will motivate and inspire his team, solving problems and empowering others to do the same. A team leader should lead by example and be able to ensure the group work well together in order to promote team spirit. They should ensure that each member of the team receives the correct training in order to perform their duties. Each individual in the team brings their own skills and specialisms to the group. A good team
In corporate America the term used to describe a person in a position of power is “Manager”. A leader can be a manager, but a manager is not necessarily a leader. Leaders motivate, challenge, and influence others to achieve goals. Great leaders have the necessary skills and attributes which allow them to connect with the team and organization. Being a leader is not the same as managing an organization. Leader’s posses the interpersonal skills needed to influence others to achieve a goal willingly. Leading is a major part of a manager’s job. Leaders do not need to be a manager to lead people, but managers must know how to lead as well as manage.
A business plan is a road map for a team or business and it can be used, as an eternal tool for potential customers and partners. The business plan should describe in details the entire business venture, technology behind it, the size of the target market, customers, competition, business model, team, financial needs and exit strategy. The business plan gives a company insight and allows them to think things through early enough in the process to ensure they have a well defined venture goals and objectives. It also gives the business direction to a clear path for the team to follow and implement on their venture.
In this paper, I will select an organization and prepare a strategic plan to grow the business over the next three years. This strategic plan will include certain criteria. That criteria includes: