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Description of business model
Description of business model
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For our Global Business module we were tasked to efficiently manage a company throughout a 4 year trading cycle in the Global DNA Capsim Simulation. Managing an organization involves many components and the Capsim simulation provides the utilization of 4 main decision making areas which are Research & Development, Marketing, Production and Finance. Since there were 4 decision making areas, we were required to work in a team and compete against other teams in the class as well as computer simulations.
This summary report will provide an overview of the decisions we made as a team, the strategies we used and an evaluation of the final results. This report will also reflect on the learnings on how to successfully manage an organization.
The
Coulter, M., Decenzo, D. A., & Robbins, S. P. (2013). Fundamentals of Management (8th ed.). Upper Saddle River, New Jersey: Prentice Hall.
Robbins, S., Decenzo, D., & Coulter, M. (2013). Fundamentals of management. Upper Saddle River, NJ: Pearson Education, Inc.
Carpenter, M., Bauer, T., Erodogan, B., & Short, J. (2013). Principles of management. (2nd ed.).
Robbins, S.P., Decenzo, D.A., & Coulter, M. 2013. Fundamentals of Management 8e: Essential Concepts and Applications. Upper Saddle River, NJ. Pearson Education, Inc.
The role of the leader in the Everest simulation was to motivate, instruct, resolve conflict and achieve group goals. I, as the team leader, made the point of differentiating myself from a manager, to someone who was extraverted, energetic and driven, within and outside of the simulation. This involved organising location times and communication between members, drawing up the team contract and building relationships between team members beyond the classroom. During the simulation however I chose to adopt a less prominent role to minimise conflict and maximise satisfaction.
The success of a company is often based in great part on company culture and a “people centered” approach that recognizes not only the importance of the customer, but equally the importance of its employees. In order to build a people-centered and ethically managed organization there exist core values and practices that are often associated with success. Success in this context not only refers to profit but employee and customer satisfaction as well. Without these two factors success is unlikely to occur. As such, success is determined by the company, its employees, and its customers. The company is the tool that allows employees to achieve things collectively by working together and garnering viewpoints from several diverse populations including generational types, ethnicity, educational background, location, skill sets, and so on. Working collectively and collaboratively is often the best route to business and/or personal success providing education and experiences that often one could not attain on their own. Successful managers can show employees the benefits of working together, embracing an ever-changing landscape, and provide them with the education, tools, support, and training they need to be successful and in turn make the company successful.
Robbins, S., Decenzo, D., & Coulter, M. (2013). Fundamentals of management. Upper Saddle River, NJ: Pearson Education, Inc.
Robbins, S, DeCenzo, D, Coulter, M & Woods, M 2011, Management: The Essentials, Pearson Australia, NSW, Australia, 1st Edition
Porter-O'Grady, T., & Malloch, K. (2007). Managing for success in healthcare. St. Louis, Missouri: Mosby, Inc.
I am currently serving as Area Chairman of Management and Legal Studies in the College of Business of Loyola University New Orleans. In Addition, I hold the Henry J. Engler Jr., Distinguished Professorship in Management. As such, I have been heavily involved in educating business executive while conducting business researches. My research interest include Quantitative Analysis, Quality Management, Cross-cultural Management, Technology Management, Forecasting and Project Management. I have published numerous articles in leading professional journals worldwide. I also conduct Six Sigma Green Belt Executive Training regularly. I f...
Coulter, M., Decenzo, D. A., & Robbins, S. P. (2013). Fundamentals of Management (8th ed.). Upper Saddle River, New Jersey: Prentice Hall.
Managerial decisions are an important component in achieving the objectives of the organization. The success or failure of a business depend upon the decisions made by managers (Jurina, 2011). Today’s increasing complexity in the world of business brought forth greater challenges for both the firm and its managers. The rapid rate of technological and digital advance as well as greater focus product innovation and processes that influence marketing and sales techniques have contributed to the increasing complexity in the business environment.
PRIMIS MNO 6202: Managing Organizations. 2007. The 'Secondary' of the ' Reprint of the book. McGraw-Hill Education, 2013.
The first section describes the decision story, which narrate my choice and how I went about it. Next, the paper looks into the frames used and missed in my decision-making. Here, I also describe the influence of mental structures in making judgments. The third section reviews the intelligence gathering procedures, where I describe my approaches in information collection and minimizing uncertainties. This section also mentions the negative influence of availability bias, as mention by Schoemake and Russo (2002) and Kahneman (2011). The fourth section looks into the conclusion, where I explain how I concluded that Organization Leadership was the best choice. In ending the research, I will also reflect on my personal growth since I made the decision and its impact on my future, as
The purpose of the presentation is to evaluate another organization that has experienced issues dealing with these two areas. Based on a detailed review of the situation, management can determine based on insights from this case, if any