Keywords: bsg lessons learned, bsg game lessons
About Management Techniques (Planning, Organizing, Directing, Managing)
The most effective lesson I learn, Management operations is vital key for better of procedure efficiency which is important things for outcompeting with competitors companies, before we do company activities there should have plan what kind product would be produced, what customer segmented our targeted, what market should be joined, how many marketing aim for would be achieved, and how is produced in efficient way to minimize the price of production.
In order to accomplish above, there are numerous option which could we do in the Business game exercise that give me valuable decision-making practice and develop my power of business wisdom. To make the strategic and operation decision that arise in the business game, I and my CAN Group will encounter a range of reasonably typical business issues. We'll face a need to examine changing industry and competitive conditions, detect the strategies of competitors and predict their next steps, pursue ways to secure a competitive gain, evaluate different training of actions, graph a tactical course for our company to adopt, and adjust strategic programs in response to changing conditions.
I have discovered what it means to "think strategically" about a company's competitive market position and the kinds of actions it will take to improve it. As my skills in "market-watching" and "competitors-watching" get sharper, my sense of business common sense about how exactly to strengthen a company's competitive position and financial performance will improve.
About Management Functions (Strategy, Marketing, Operations, Finance, Human Tool, etc. )
As a business goal is to maximize profitable and going concern, we have learned in the business video games that before performed tactical plan, the main thing is I will gain a more robust understand of how different useful pieces of business (production, marketing, finance and so on) fit alongside one another, thus integrating the data from business training I have used. The business strategy game draws upon many of the standard topics I have studied inside our production, marketing, financing, accounting, human resources, and economics classes.
The business strategy game, this can be a "big picture" experience that will require taking a look at decisions from a complete company perspective and unifying decisions in a variety of functional areas to make a cohesive strategic action plan. I learn why and how decisions made in one area affect effects in other areas of the company.
The business strategy game offered me more understanding into the ins and outs of the global competition, the different strategies companies can follow in world market segments, and the problems of fighting in a worldwide market environment. The overall game brings into play lots of the business issues and competitive conditions quality of today's global market.
The business strategy game boosted my knowledge of basic revenue-cost-profit interactions. I get valuable practice in looking at operating statistics, discovering costs that are out-of-line, looking at the profitability of different market segments, examining financial condition, and choosing what remedial and proactive methods to take.
Finally, playing the business strategy game built my assurance in inspecting the revenue-cost-profit economics of business, help me understand how the functional pieces of an enterprise fit collectively, and develop my powers of managerial view.
I have gained an event and practice in assessing business risk, examining industry and competitive conditions, making decisions from a companywide perspective, thinking strategically about a company's situation and future potential clients, developing strategies and revising them in light of changing conditions.
About Employed in Teams (as head and/or follower)
The most valuable lesson I learned about working in teams, we discuss mutually for keeping the company profitable, gaining an adequate come back on equity investment, protecting the company's bond score, endeavoring to maximize shareholder riches via increased dividend obligations and stock price understanding, and developing an efficient business technique for making company profitable and going concern.
We as a team have to reside in with this decisions for better or even for worse, we must manage the company after the decision already taken for having best performance, doing planning for the next year strategy with the condition given such as exchange rate fluctuations, tariff barriers, production cost distinctions, and we as a team must decide whether to locate plants where wages rates are low or whether to avoid import tariffs by having a production platform in each principal geographic market.
Another concern if we have to closed one crops brought on of not profitable and invest to another world market for instance in Asia, the reason should make sense or logic thinking for having acceptance from other customers in a clubs.
What do I intend to do to take good thing about this experience and lessons back at my work place?
A. As the first choice of my device.
As the first choice in my unit, first I must create strategic arrange for my unit as a whole, and identify those strategic intend to most of my subordinates for having understanding and commitment from them. From then on analyze the chance and threat that would impact our strategy.
In the way of accomplishment of the strategy I'd review if there are some alternative to eliminate or lessen the failing of my product goal, or any serious menace that I should anticipate soon. Your choice should take for those situation whether the decision good or bad, as a leader should take responsibility foundation on account of my member and another reasoning reasons.
Finally, as a leader I must gain a better understand of how the several of my subordinate could have an impact on better in decision making triggered of the insight came from various kind of thinking, and at the end of day will have the organization outcompete and give the value put into the other function.
As a leader should have to adopt and assess any changes in my own firm and environment as well, take the opportunity that could be happened or address and mitigate when there is any risk.
B. As a member of my management team.
As a member of my management team, I have to release that a teamwork is a needed for having better bring about the management team, I've discovered which is every person in CAN group could supply the opinion in order to get the good wisdom either in the marketing policy or operation success. If we value to other thoughts and opinions of an associate, we will enrich our means to fix outcompete with the competitors in the true business.
Besides that, I have practiced that to control the business in the globalization time is not as simple such as the words, it is rather complex situation and economical condition, so many parameter we have to think much which is every company on the market will give almost all their effort to gain the competition, once the decision is consuming our unit, we as a member should have to provide our best work to accomplish our company goals.
Finally, as an associate I have discovered much about how exactly to influence the other member with sharing with the fact conclusions and logic argument for winning the competition in the bad situation in particular when we've different thoughts and opinions and discussion to each others, so maybe in having agreeing with other member we will have strong commitment to achieve the business concentrate on.
I would because of have learning the business strategy game.
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