Simulation Reflection What

Simulation Reflection

1. What

The simulation was a fantastic exercise with many positive outcomes. In the starting, it was confusing a bit. If it was a single-player game could have been easy but companies don’t operate that way we have to work as a team. For practice round 1 and 2 I was unable to complete them because of technical issues. Later on, the issue got resolved with the help of Cesim support. Till then I have observed only team performance and have lost the initial part of learning. It was critical to do well in the following rounds. In the

simulation, my responsibility was to put the tactics we learned in the module study into action and make our firm profitable. For rounds one and two I focused on Tech one’s price and the volume. We had the highest sales in the ASIA (Table 3.1.2) and the price was high. Ultimately, we made good money in rounds one and two. At the look at the competitive market our price was too high, In the next two rounds which is year 3 and 4, we gave a lot of discounts and set low price. With the right production and demand, we managed to sell off our inventory and from new production. (Table 3.1.1) The second priority was to invest in R&D and develop features. We added a total of 3 features with the tech 2 product. Again, likewise the previous year, we had low inventory. For the coming year, our focus was to build a competitive advantage and we focused on ESG strategy where we had an above-average score in environmental, social, and governance which was nearly 3.4 out of 5. (Table 3.1.3) with the rounds 6 to 8 we tried to maximize the sale and make profits but due to system error (team error with past rounds) again we were in losses. (Table 3.1.4) I feel if I have played the practice round 1 and 2, The result could have been better. I wanted to implement a few strategies but was unable to do because of a lack of knowledge.

3.2 So What

The key success factors are operational and financial key indicators. (Twin, 2021) If we see the overview of the company, the factors that need to be looked after are the environmental (External factors) and the resources (Internal factors) companies have. For rounds 1 and 2, we attempted to use the Pestel technique, (CFI, 2021) which identifies a few gaps in the sector and what measures need to be addressed. The main result was an environmental element in which mobile manufacturing produced a lot of CO2. (Team, 2021) From the start, we attempted to utilize at least 40% renewable energy. (Table 3.2.1) If we see from the cost perspective the expenses were high and we tried to cover up in terms of working on our inventory which helps to reduce the production cost to 5%. (Walts, 2020). Overall, we attempted to utilize a hybrid method where the cost was reasonable and the features were desirable. (Table 3.2.2)