Business Simulation Evaluation & Reflective Report
Knowledge
- Explain the theory and practice of businesses
- Describe a range of current problems and changes that organizations face in being successful
Thinking skills
- Critically evaluate research and theory to support decision-making and explain progress
- Analyse complex issues, make reasoned judgments with incomplete data, and communicate conclusions clearly to specialist and non-specialist audiences
Subject-based practical skills
- Students will discuss good practice for organization success
- Undertake a critical audit of skills and capabilities for a professional career and identify areas required for improvement
Skills for life and work (general skills)
- Developing and communicating critical evaluations of organization progress
- Working effectively in teams
Assessment – Coursework
| Part A: Individual simulation evaluation | |
| Part B: Individual reflective report | |
| Submit as 1 report | |
Individual assignment overview
The individual assignment – to be submitted as one report – is comprised of two parts: A and B. Part A is the simulation evaluation. This focuses on evaluating your company in the simulation. Part B is the professional development reflection. This focuses on evaluating your individual performance in working with other students in your team in the simulation. Each part is worth 50%.
Part A: Individual simulation evaluation (Business simulation)
Weighting – 50%
Word Count – 3000
You have been managing your company in the business simulation activity for the least five years (five years = five weeks of the business simulation). You are now reviewing and presenting your future plans for the company based on your annual business plans (for each simulation week) and performance in the simulation. You are required to evaluate the success of your decisions and make recommendations for future company plans.
| Element | Word Count | Value |
| 1. Executive Summary
Remember this is an overview of: the most important decisions you made; the actual results you got; the most important decisions you have made about your future strategy |
250 | 5% |
| 2. Describe the simulation company Vision and Strategy over the simulation
e.g. vision, values, mission, HR This section is to be based on your Group business plan. Please use your own words to describe your company’s Vision and Strategy (do not ‘copy and paste’ your group business plan) |
250 | 5% |
| 3. What you did
Performance review: competition analysis (Market choice/share; competitors; internal capabilities). Also talk about the most important decisions you made each week and the targets you set each week. |
500
(100 words each of the five weeks) |
5% |
| 4. What the outcome was
Explain simulation performance results: Position, KPIs, Financial performance
Performance review: Performance analysis: analyse performance (evaluate decisions taken in each area – Strategy/ Marketing / HR/ Logistics / Finance / Product development / Responses to World events etc linking to simulation results) Marks will be awarded for how well you explain the connection between the decisions you made and the results you achieved (regardless of whether the outcome of your decisions were positive or negative in a business sense) |
1,000
(200 words each of the five weeks) |
15% |
| 5. Future Company Strategy
Develop future company plans and recommendations including: 1. Define key decisions for next 5 years 2. identify any changes to current strategy and how to achieve those changes 3. Set out recommendations – based on your review of company performance, 4. Explain areas for potential growth NB – You must show evidence of research into the real MOBILE PHONE industry in this section to support your proposals as well as evidence from your simulation |
1,000 Words | 15% |
| 5. Additional Criteria
Structure and writing (Grammar, argument, clarity, use of business theory to support arguments) |
n/a | 5% |
| TOTALS | 3,000 words | 50%
(the other 50% comes from Task B) |
Further details:
Performance review:
- Assess the success of the strategy or strategies compared to industry conditions and competitors in the simulation.
- Analyse company performance e.g. comparing actual performance with targets in your Business Plan, financial data analysis, decision analysis and justification of performance measures and strategy, application of business scorecard etc.
Performance analysis further details:
- Explain why business plan achieved/ missed, why performance changed
- Explain differences from competitors/ industry (in simulation)
- Explain any changes made to business plan and company, why, any impact.
