An knowing that a person advances from almost any work is grouped under an event that is mirrored by a person in varied forms. Individual reflection in simple is a personal experience working in a team. Individual representation is one important way to portray regarding ones experience in working in the groups and provides ideas for an improved final result and ways with which complications can be conquer.
Many organisations, especially educational institutions pay special attention to gather reflection using their students for various tasks to enhance the system and standard of education. Moreover, I have been given the opportunity to write my own thoughts and opinions and thoughts related to the business simulation program that people students were involved in after the conclusion of the trained modules of Experts in general management. Certainly, this simulation job is a good method of assessment and program of the majority of the relevant ideas learnt in the course.
The business simulation project provided the students with an opportunity to learn, experience professional management practice and implement the ideas and business frameworks that were learnt during the educated course and are practised in a real and actual company. Kleinrichert (2005) describes the value and signifies the understanding of theories for the integration of training of business experts can be an important strategy for the analysis of the training of professionals as decision makers. However simulations can be costly (Chun-Hung, et. al. , 2010).
I was an operational director in this job. Most of my decisions were based on article and research provided by the marketing team. However, its had not been an easy activity as the rest of the directors, such as money and human source, were strongly connected with the decisions that functions were required to take. It had been learnt through out the project that marketing research performs a essential role to make almost all of the development decisions as fluctuations in the predictions as predicted by the marketing research had shown a great effect on my decisions.
Discussed here are some theoretical frameworks i used as an functional director available simulation project in planning and applying my decisions. Ahead of analysis of my experience working as an functional executive, it is evenly important to understand the word: procedures management.
Operations management handles the processes involved in the production and circulation of goods and services. Atlanta divorce attorneys organisation operations management is an integral performance in producing and distributing goods and services. Certainly it has been acknowledged during the business simulation task.
"Based on the APICS dictionary. . , functions management is defined as 'the planning, arranging, and control of the activities that transform inputs into completed goods and services' (Cox and Blackstone 1998, p. 62 cited in Foster and Ogden, 2008, p. 6946).
Working in the business simulation helped to a great degree in knowing that the role of the operational director is not limited by just production of goods and services, and probably there are many other areas that needs to be considered when coming up with decisions. For example, finance, human resource and marketing decisions can not be considered into least importance when making operational decisions. This simulation helped in understanding the strong marriage that exists between these departments.
The product life routine is normally a sales quantity passing through four levels, i. e. , introduction, expansion, maturity and decline. According to various authors the earnings of the merchandise can be increased by analyzing where the product stands in the life cycle.
This theory performed a great role to make production decisions in regards to the PLC respectively. There was a spot when as an functional exec in the team I decided to produce cars overlooking the merchandise life cycle of that car and found out that this ignorance really left our team with huge inventory and eventually an encumbrance on the money.
However, product life routine of every car in the simulation was observed to be different. Therefore, it was not easy to predict correctly every time where in fact the product stands in the life cycle. A very important factor that helped in deciding was number of previous 12 months sales.
Nonetheless, the marketing predictions and stock levels helped me to a great magnitude in deciding where the product stands in the merchandise life cycle and thus helped in making decisions about creation levels for next calendar year.
Product life cycle did helped in making marketing and creation decisions, but it can more be said that they have different stages which guide us as to what is required to be achieved with the product. For instance whether it needs to be re-launched, increased in creation or promoted.
The maturity phase in the PLC demands cutting down cost and increases gross earnings as the majority of the competition is levelled. However, it was learnt it was not possible to decrease cost as well as increase gross income at the same time as with inflation the cost would automatically rise.
Automation is managing the machines with an increase of automated systems. Where it is said that automation rises production and quality, on a single hand it can't be disregarded that automation cannot make up for poor management (Gaither, Frazier, 2002). Furthermore, a key issue is determining how much automation to get into the creation system.
However, arguably the writer further states it can't be ignored that enhancing product quality and product versatility motivates many companies to make huge investment funds in automation.
Distribution of automation and work force was the most challenging part working as an operational director. I do trust Gaither and Frazier regarding the increase of production with automation, however, on the other palm it cannot be ignored that automated equipment is very expensive and controlling automation is difficult. Automation can reduce labour and related costs, but in many applications the huge investment required by automation jobs cannot be justified on labour savings alone.
It was learnt that automation is an extremely careful investment as it was observed in one of the years that in right expenditure in calculation did let go some workers, which eventually resulted in more hits.
Nevertheless for organisations to achieve the necessary productivity increases requires the efforts of all functions. Maintenance is not a exception. And automation will demand maintenance and a depreciation value.
According to Krajewski and Ritzman (2005, 14) 'Productivity is the worthiness of outputs (products) produced divided by the worth of type resources (wages, cost of equipment, and the like) used. '
Moreover, the task is to boost the value of output relative to the expense of input. If operations can generate more output or end result of better quality using the same amount of suggestions, their productivity rises. If they can keep up with the same level of output while lowering the utilization of resources, their production also boosts (Krajewski and Ritzman, 2005).
However, it is arguable as to how increasing outcome may be accomplished with the same amount of suggestions, as with economical fluctuations it is was experienced in the simulation that it's unlikely that efficiency can be increased without further investment. In addition, rise in inflation increases cost.
According to various researches the most significant decision of the operational department of any company is estimating and determining creation. Numerous authors have emphasized the value of interconnection of development decisions with regards to the sales estimation provided by the marketing.
According to Muhlemann, Oakland & Lockyer (1994, p. 5), "The relationship between marketing and development functions is crucial to the success-that is, the survival- of the complete organisation. The nearer together they address, the greater the likelihood of the success, which is interesting to understand that at the start of any organisation the marketing/production functions are usually completed by one and the same person. Parting of these two functions or a reduction of their inter-connections escalates the likelihood of disaster. "
This interconnection between your marketing and development functions has been experienced to a great amount in the simulation. However, where on one hand it was seen that with proper sales estimation provided by the marketing the creation decisions were appropriate and an effective stock level was achieved, on the other palm at several things with incorrect predictions of marketing estimating or research has led to miscalculation in the number of autos produced, eventually resulting in either over development or underproduction.
Nonetheless, marketing was found to be strongly interconnected with procedures and it was learnt that if marketing functions are carefully approximated with in-depth research, there's a high potential for correctness of the procedures to be successful.
Researchers in functions management show great interest in ideas related to quality management (Benson et al. , 1991). In the current dynamic and highly ground breaking environment quality can be one important key factor in identifying a company's survival. However, it can't be ignored that with the highly turbulent monetary situation people demand products with low price. And it could be argued that quality can't be achieved without extra cost. And this is that which was experienced in simulation that the greater attention to quality was presented with, the more burden on finance was made.
Yet, on the other hand numerous writers like Muhlemann, Oakland & Lockyer (1994) is convinced that the reputation fixed and identified by external environment to any company for the grade of its products is acknowledged as a mean to its success. Additionally, to achieve any possible way, an company must be specialized in constant development, leaving the consumer without longer choice between price and quality. Additionally the publisher outlines that quality isn't only limited to success, but essential to business survival.
I do consent to a great extent with the writer regarding the importance of quality running a business operations; nonetheless it is arguable that quality is straight linked with upsurge in expenditure thereby increasing cost. Alternatively, it was seen in simulation that with rough competition, prices were forced to be place with low gross profit margins, eventually leading to compromised quality. And with intense competition it was not easy to focus on quality scheduled to low prices. It was much complicated to work through quality in the simulation than it is said in the idea. Lot of factors were needed to be taken in mind when it emerged to enhancing quality, for instance, investment in training, automation or research and development, proper labor force allocation. There was not a one factor which could have improved the quality alone.
Nonetheless it cannot be overlooked that total quality management is a path to advance the worthiness, efficiency, success and competitiveness of a business all together (Muhlemann, Oakland & Lockyer, 1994, p. 108). Yet to some extent it was seen in simulation that in powerful competition it's the prices that determined the survival of any organisation and not the product quality. As despite having average quality our company was able to sell cars as a consequence to low prices as compared to competitors.
8. 0 Critical Analysis of Individual Reflection Regarding Working in THE BUSINESS ENTERPRISE Simulation
Initially on day one it seemed quite boring the complete strategy about simulation. However, when the simulation began it actually received really interesting and determined so that as an operational director I possibly could really apply and learn in a practical sense the majority of the relevant theories that apply in genuine real business. Simulation made almost all of the concepts learned in theory clear.
Working in a team was a great experience as different views were exchanged, however, because even as were five participants in a team I couldn't apply few decisions. At this time I would argue to certain extent that I was not in a position to apply my full capacities as I was compelled onto be sure decisions which my team mates required and I had not been fully in favour. Nevertheless, as an functional executive I put command on procedure decisions which simulation actually did give a feeling of employed in real business
Initially there was a strong conflict in deciding who is going to manage which department. No-one was willing to take the responsibility to control the funding decisions, therefore it was decided that we would help one another out and work collectively to make all decisions. Despite of issue at certain times, however, a few of the problems that originated during simulation were eventually handled smartly and most of the decisions were manufactured in a well-timed manner that afflicted the outcome of the company favorably.
This simulation helped to comprehend and learn the business strategies that are used for the management of an competitive business project. This simulation gave sound knowledge associated with management decisions in the financial, operational, marketing and real human resource areas. Furthermore, a acoustics understanding in the integrations of functional decisions in marketing, financing, quality, production, real human learning resource management and product development was gained through this simulation.
Nonetheless, it was a great way in learning as a continuous opinions was provided on the results and results. The tutor used to provide us with quick but useful information, ideas and knowledge about the progress and final results of the business.
The business simulation task helped to a great scope in developing an understanding of the ideas, learnt in the taught modules, with regards to its execution in the genuine business world. This simulation actually helped as the organizations that just used the amounts and did not put into relevant theories while making their decisions they actually flunked and their companies failed. So, overall it was a good experience. Though our group did experience difficult time when coming up with certain decisions as every member got a different idea, but generally our decisions in relation with the idea supervised us to endure till the finish with decent income.
However many areas and theories of business cannot be properly explored in the simulation. For example there have been decisions associated with allocating the work force, inventory management and automation that could have been better experienced if the school could arrange and provide us with the opportunity to get experience by doing an internship in a real company. Furthermore, issues related to ongoing improvement in quality with regards to increase in assets in R&D and automation was not clear. Furthermore, as quality demands investment therefore in intense competition and increasing inflation the idea of increasing quality without increasing cost could not be properly recognized.
Nonetheless employed in the simulation was a great experience to learn and there have been generally lots of things which were learnt that cannot have been learned only with learning theory. Moreover, thankfully this business simulation provided me a good and valuable experience working as an functional executive that could positively accomplish me in my profession and would increase my future job prospects.