Reflection On Business Simulation Course 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

SIMULATION DESCRIPTION: As the manager of TriState Dairies market research department, you need to determine what to do with the Dairies' surplus milk.

Critical thinking is essential in business and in every aspect of life. The more time spent thinking critically about an issue or problem allows the thinker time to generate a response and a course of action. A person that thinks critically about a decision before acting has the best chance of getting optimal results. Team-A has completed the Thinking Critically simulation and has reviewed the results as a group determining that in business, thinking critically can make the difference between success and failure. In the following critique, we will discuss the problem evaluation tools and techniques from the simulation and compare those to the tools and techniques that we would have used in this scenario. Team-A will describe the

Companies are continually coming out with new products; most new products are improvements of past products. However, the way a company markets a product and to whom they market the product can make a drastic difference in regards to the sales performance. Two products can be nearly identical and marketed very differently, while two products can be polar opposites and marketed almost identically. Two products that are similar but marketed differently are the iPad and the Amazon Fire tablet, and two that are different, but marketed similarly are Nike tennis shoes and Oakley sunglasses. It is important to understand how a company markets a product, but it is just as important to know why a company is marketing a product a certain way. The

For this final posting for the informatics class I will be sharing and then commenting on an article discussing the effectiveness of simulation to help medical surgical nurses to recognise then respond to clinical emergencies. I will then be sharing my reflective thoughts and opinions on my personal experiences in the blending leaning classes here at Framingham State University thus far.

The μ will be the population average mean annual income, x ̅ be the sample mean average income, and σ be the population standard deviation of income.

This simulation definitely helped me learn all about finances and how to manage my money when I grow up and am living on my own. I learned very quickly to pay bills in advance and to not wait until the last minute because only bad things can happen. I went to pay my first bill the day it was due, and to my surprise it would only let me pay it two days after it was due. Where if I just set it up to pay it in advance it would have been fine and I would not have acquired any late fees. I also did not know that there are grace periods, and that if you get a fee you can put in a request to get it taken away, and if it is legitimate they will dismiss it. That was really helpful because I had a twentyfive dollar fee that was waved completely because

Alumina Inc. is $4 billion manufacturing company operating in eight different countries around the world with the United States accounting for nearly 70% of their sales. Based in Erehwon near Lake Dira they manufacture packaging materials for the automotive industry, bauxite mining, alumina refining and aluminum smelting. The key players of the organization are Roger Lloyd Chairman, Chris Blake COO, Diane Richards Head of Public Relations and Arthur Todd Legal Council. Like many companies, Alumina is regulated by the National Environmental Policy Act (EPA) organization and fall under the jurisdiction of region six, the Clean Water Act.

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)

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.

Every company has their own theory and goals behind what they overall want to see or become. This paper is written with intent to help better understand a real life situation that took place at Guitarras Dominquez. When a company first opens their doors for business, they use high end material to show the essence of quality in their product which will allow for growth in their customer base. Do you ever wonder how a company gets far in doing so? Intention from the start of a business does not include cutting corners and saving money, but eventually with budget cuts and business plans they tend to become necessary.

"What I hear, I forget; what I see, I remember; what I do, I understand."

Maintenance of the brand image is always the fore most important factor for the luxury brands in order to sustain in the market. is very critical. Therefore, of all the criteria mentioned above, we have determined the brand image is the most important criterion on which we will base our recommendation.

Differentiation requires a constantly changing product line and is more successful when the company is able to offer a portfolio of products that complement each other, which enriches the experience for customers and satisfies a variety of consumer needs. And when differentiated products truly satisfy customers’ unique needs, the company is able to charge premium prices. For customers to be willing to pay a premium price, however, Ford's products must truly be perceived as unique in some way. The ability to sell goods or services at prices that substantially exceed the cost of creating the differentiated features will allow Ford to outperform its rivals and earn above-average returns.

The feature of luxury is base on the fact that it is a brand, which is a basic discrepancy of luxury and craftsmanship. According to Keller (2003, p.60), “brand equity is the differential effect that brand knowledge has on consumer response to the marketing of the brand”. It is related to the added value of goods provided by the make as well (Farquhar, 1989). Therefore, companies having strong brands could sustain their differentiation (Aaker, 1996) and reach better “financial leverage” (Ind, 1997) than those do not have (Nyadzayo et al., 2011). Thus organizations, which produce luxury objects, need to create and maintain their brand equity.