Globus Report Essay

The objective of this Globus coarse-grained is to run a partnership in the real environment which is we leave alone compete with other companies. On this simulation I am becoming co-manager of a camera industry. All of the conjunction submit two products in the foodstuff which is Entry level camera and multi featured camera. And the market area is divided into 4 region which is 1.North America2. Europe-Africa 3. Asia Pacific 4. Latin America.One group have 3 members , and in my business simulation we got 8 different companies. Each comp any has to run the camera business all workweek , one week in real life is represent 1 stratum in the simulation for a consecutive 10 weeks. The ultimate goal for all the companies is to pretermit the market of the cameras industry, the best camera company in the industry is to get the target that give by the investor expectations, gaining the most market share and image military rank and maintaining a good credit rating.My AchievementsBy d oing the virtual business game with my group member , I had to be able to discerp the business each grade , what the strategies I have to do , and how to get high dividend and investor expectation. By doing this process I can fully understand what happening with this industries and how to improve this business.. These liberal of things allow me to understand concept in the industry and break off a strategy to win the competition within the industry. By experiencing this virtual business game I have learn about business management , starting from production cost , marketing , advertising , marketing , target market ,shipping cranch forces ,financial decision , and business plan .all of this elements will impact the business performance. On this game I also learn from the compotetion btween the company in this industries.Every single company have a different strategies to dominate the industry. All the strategies is depend on the current situation and target market.and the compe tition is on all the time because the compotitors I unendingly find the new strategies to defeat our company.so we need to come up with new strategies.My New Transferable SkillsReflection 1 Context On the basic week of the Globus game we were trying to change the decision entry as what we did in the Globus practice using on our knoledege about business menegement Activating aim With lack of knowledge that we got on the first year result is under the investor expectation ,eventhough we tried so hard to do this decision entries. depression We failed to hope that with our lack of knowledge our first year results is unsatisfy ,.it is make our companies is behind other companies. Consequence Other companies performing well on the first year so our company is one step behind .Our results for EPS ,ROE and image rating is so much behind others companies.So it is hard for us to chase the other companies that performing beyond our companies as well as none of our group member really u nderstand about business. bitterness I have learn that when you make your company you need to understand everything about it from the market , business pla and etc. Because first year is the most crucial for your business to externalise the prospect of your business . so you need to learn before you do it.Reflection 2Context Our group have develop different strategies every year Activating construe We are trying to do the strategies to get more(prenominal) profit on that year and didnt planning for the coming tyears Belief We failed to belief that our strategies is failed because we didnt see the situation of the market and we didnt planning well for the coming years like warranty I s the most issues of our comapny Consequence Our result is dropped every because we have no analyse market and our bad planning for the future , so until the very end of the year we still have outstanding loans Dispute I learn that it is really important to research about he target market and the planning of future business.Reflection 3 Context We always change our p/q rating every year Activating put through we always change our p/q rating to be the same as the wind companies ,hoping that we can compete with them Belief We failed to believe we didnt choose our p/q rating since the first year , by changing the p/q rating every year it boost our market share and kick us out of the competition.because we dont choose the target market of our companies , which is always changed every year Consequence Our companies rank is dropping until it aalmost the last position , and we have no target market Dispute I have learn that I slant use other company strategies , but I have to find the new strategies that can beat them in theyre market.And I would make sure to develop my own strategies to take against other companies.My personal growth and lifelong learningReflection 1Context For some of the week our globus group couldnot focus on globus game Activating Experience The Globus team unsatisfy with the result that not stable , and we didnt do well on some of the year Belief I failed to believe that because 1 didnt stay focus to do the globus simulation game. Consequences Our company have a bad start and the result in the plaza year is falling down.we keep losing point every year until it reah the peak and our company made a loss.The biggest mistake was that we did not understand the game tout ensemble and this made us suffer for the beginning of the years. Dispute I would like to completely understand on how to run the company and be able to do full summary and research in the industry. And the most important thing to run the business is to keep focus to run the business to make a succesfull businessReflection 2Context In all of the group meeting, we as the co-managers, had agreed on the decision to take and do the Glo-bus together. Activating Experience During the very last minutes of before year 11 or 12 decision was due, one of the co-managers ch anged the decision and we were not informed about that. Belief I failed to believe that we all had agreed on all the decisions we had come in group meeting and nobody would change any decision without any consent from other co-managers. Consequences Our company was in the second last position due to the loss that we got. The co-manager decided to significantly lower the price to gain more market share, but in the end the decision was against us. Dispute I would never let my team member to do that anymore. Since then, I learned that I had to check all the decision entries just before it was due to make sure everything was okay and according to what we agreed in the group meeting. I learned that this kind of action could be fatal and as a result, it would be hard to manage the profits year after.Reflection 3Context by and by couple of weeks of hard time, we had to sit down together, share ideas and run the Globus game together to make sure we really understand Globus. Activating Experience We had to analyse the competition in our industry and think many possible strategies to counter our competitors. Belief I believed that as co-managers, we had to completely understand Globus and make sure that everyone in the team really understood what was happening since this was the best way to run the company. Consequences We managed to bounce back at the end. Our position kept increasing every year up to 5th position which was not that good for the progress of the company. In the end, with everyone sharing their opinions and ideas, we managed to go as one team to help the company that was already in a bad position due to bad performances from previous years. Dispute I learned that by getting together as a group and shared knowledge and analysed the industry together, we could manage to be the best actually.Reflection 4Context After our company had bounced back, we had to keep doing our strategy so that our company could get better. Activating Experience We had to do analysis every week carefully to see what the best opportunity and strategy to take. Belief We believed that by doing analysis every week, we could maintain our position. Consequences Our company was getting better every year onwards since year 12 and 13. This was because we had understood on how to play the game. We did analysis and research every week to find out what strategy we could implement. Dispute I learned that by completely understand the game, the game was actually interesting. presently I know how business works in real life. Everything was related with another and each decision was really important.