Essay Explain the Theory and Practice of Businesses – Business Assignment Help

Assignment Task

 

Learning outcomes in this assessment:
Knowledge
1. Explain the theory and practice of businesses
2. Describe a range of current problems and changes that organizations face in being successful

Thinking skills
3. Critically evaluate research and theory to support decision-making and explain progress
4. Analyse complex issues, make reasoned judgments with incomplete data, and communicate conclusions clearly to specialist and non-specialist audiences

Subject-based practical skills
5. Students will discuss good practice for organization success
6. 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)
7. Developing and communicating critical evaluations of organization progress
8. Working effectively in teams

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.

Part A: Simulation evaluation (Simulation Company – Phone ventures)
You have been managing your company in the business simulation activity for the least 5 years. 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. You should cover:
-Executive summary
-Describe the simulation company Vision and Strategy over the simulation (e.g. vision, values, mission, HR)

-Review the company’s performance each year covering:

• Performance review: competition analysis (Market choice/share; competitors; internal capabilities)
• 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)

-Develop future company plans and recommendations

• Define key decisions for next 5 years, identify any changes to current strategy, how to achieve; set out recommendations – based on your review of company performance, explain areas for potential growth

-Structure and writing (Grammar, argument, executive summary)
-Appendix (incl. Company Business Plan for each year in the simulation)

Part B: Professional Development Reflection Report (individual development)
Your annual Performance Development Review is approaching. You are keen to reflect on how working in this team compares to what you have learnt on your MBA course and your understanding of how companies perform in the mobile phone industry. You are required to prepare a report that covers research into one or two events from your simulation team looking at group dynamics, how decisions were made, leadership analysis, and implications for your individual professional development. This should cover:
-Report summary
-Introduction and Identified events
-Application of theory and practice to identified events

• Use theory to make sense of the two events – what happened, how, why
• Brief review of applied theories / concepts/ industry practices – how relevant and valid are they to your events

-Discussion and recommendations

• Review and explain your individual professional development
• Recommendations to improve your practice and areas for you to research to improve your development

-Structure and writing (Grammar, argument, report summary)
-Appendix (incl. individual reflection logs for each year in the simulation)