Course: Master of Business Administration

Assessment task: Reflective Essay on Business Simulation and Professional Development

Executive Summary
This study has focused on evaluating the outcomes from business simulation by using the performance outcomes of Two Plus Company along with the decisions that have led the business to the outcome. To be specific, the company started with an effective vision, which could have helped it establish itself in the competitive market. On the other hand, its initial strategy of using a cost-leadership approach to maintain the affordability of the products alongside the efficiency of the business to stand out among its competitors with its quality and affordability. However, while working on achieving this vision. The leaders of Two Plus have failed to manage their decisions to ensure success. To be specific, the leaders of Two Plus have chosen a logistic partner that requires higher financial investment to sustain the flow of products. At the same time, it did not focus on product development by strengthening its R&D. On the other hand, Two Plus's marketing strategies are also not as efficient as it is supposed to be as it does not promote brand exposure. Therefore, the leaders of Two Plus must improve their practice in terms of product development and financing along with the HR and logistic decisions to enhance its scope for gaining competitiveness in the market.

Table of Contents

  • Part A: Individual simulation evaluation
  • Executive Summary
  • Vision and strategy of the simulation business
  • Performance review
  • Outcome
  • Future strategy
  • Explain areas for potential growth
  • Part B: Individual reflective report
  • Report Summary
  • Introduction and Identified events
  • Application of the theories of new launches of the items
  • Discussion and recommendations
  • Conclusion
  • Reference list
  • Appendices
  • Appendix 1: Reflective log

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Task: You are required to prepare an essay that covers what you have learnt from your research and analysis while investigating the selected company for the summative 1/ Simulation Evaluation Report.

Part A: Individual simulation evaluation

Vision and strategy of the simulation business

This study focuses on evaluating the simulation business' performance and capacity using the results of the simulation task. In the case of this study, the business being evaluated is named Two Plus, a smartphone company operating in multiple countries such as Germany, Netherlands, France, the United Kingdom and more.

Vision

The company's vision is to meet the customers' quality needs at an affordable price range. The following can be highlighted as the vision of Two Plus.

Shaping the future of technology: The use of technology is significantly growing globally. According to Oke and Fernandes (2020), the fourth industrial revolution has marked the phase for the growth of digital technology in every sector, which has been one of the major factors for people's increasing inclination towards smartphones. With this vision, Two Plus also focuses on utilising digital technology to satisfy their customer's experience, along with shaping digital technology for future generations with their smartphones.
Creating great products: Product quality is one of the keys to the success of an organisation in the competitive market by satisfying the customers (Mulyani, Ridwan and Ali, 2020). Two Plus seeks to acheive the same by developing products of great quality to satisfy customer needs.

Affordable phones for everyone: Affordability is one of the factors that are not generally available with the quality, especially in the market of digital devices like Smartphones (Cugmas and Štruc, 2020). Therefore, it can be said that Two Plus's focus on providing quality and affordability to its customers is a rare approach which will help the company stand out among its competitors.
Strategy

Cost-leadership strategy: Two Plus relies on cost-leadership strategies for developing its products within a low budget and maintaining the products' affordability compared to its customers. The term "cost leadership" is used when a company promotes itself as the sector's lowest-cost manufacturer or provider of a certain item or service during a competition (Suryanto and Anggraini, 2020). It is one of the business's most effective techniques for achieving its goal of dominating the UK market for low-cost smartphones with quality. Therefore, it can be said that the strategy of Two Plus is quite effective in ensuring it achieves its prospected vision.

Performance review

Week 1

Competition analysis

In terms of competition, Two Plus has been in an efficient position in the first few rounds. Two Plus was in the second position in the competitive market in this particular round. Surpassing competitors is fundamental to businesses' competitiveness and sustainability (Hermundsdottir and Aspelund, 2021).
Market choice and share
In the first round, Two Plus started with the domestic market of the United Kingdom. According to Upsala's model of internationalisation, invading global markets gradually starts from one country and capturing others, followed by following, is an efficient strategy for business expansion (Igwe, Rugara and Rahman, 2021). Starting from one market and proceeding to another shows the efficiency of Two Plus's strategy.
Internal capabilities
The company was formed with distinctive leaders for different functional departments, such as human resources, marketing, finance and more. A leader's capacity and skills are the major determinants of organisational performance, which makes it beneficial for the company to have effective internal capacity (Mihardjo et al., 2019).

Week 2

Competition analysis

By round 2, the competitive position of Two Plus became weak, and it started to drop. According to Hanaysha et al. (2022), it shows the gap in the competitiveness of the company, which can affect its sustainability.
Market choice and share
In this round, the company has decided to invade the Netherlands and Belgium markets alongside the United Kingdom. It also shows the alignment between Two Plus's strategy and the internationalisation model of Uppsala. It recommends that the internationalisation process be gradual and strategic to ensure the development of trust and brand value (Bauske and Kubilay, 2022).
Internal capabilities
The company have decided to follow a functional human resource organisational structure, which has aided the company in efficiently managing its many activities and achieving its goals associated with internal capabilities. A functional organisation refers to dividing the executives into more manageable divisions with distinct functions that enhance internal robustness (Adamu, 2020).

Week 3

Competition analysis

In round 3, the company was in a fifth position where some of its competitors, such as Hi-Phone, Orab, Toucan and more, had surpassed it. Considering this degradation in performance, it can be said that Two Plus should improve its competitive landscape.
Market choice and share
In this phase, the company have decided to expand its market in France, Germany, and Mexico. It can be said that constant expansion does not show Two Plus' focus on the development of trust and relationships that can strengthen its foothold in a market.
Internal capabilities
Even after focusing on strengthening internal capabilities, Two Plus could not sustain the employees, and by the end of this round, the company did not have any permanent employees. It reflects the internal organisational capabilities gap even after the third round.

Week 4

Competition analysis

The competitiveness was still lower than expected, demonstrating the organisational efficiency gap to sustain its business (Haseeb et al., 2019).
Market choice and share
The company has stopped expanding markets and focused on strengthening its foothold in the existing market. It is one of the positive aspects of its decisional efficiency as it focuses on securing its position in the existing emirate rather than continuing the expansion process (Arvidsson and Arvidsson, 2019).
Internal capabilities
The company did not hire experts to invest in R&D, which is essential for expanding the internal capacity of product quality and innovation management (Santos et al., 2019).

Week 5

Competition analysis

The company has improved its performance yet has not achieved prospected competitiveness to become the cheapest supplier of smartphones in its markets.
Market choice and share
The company is still focusing on its existing market, which is beneficial for companies to expand successfully in future.
Internal capabilities
The company is yet to improve its internal capacities as the leaders' decision-making, and management skills have not been enough for the company to achieve its prospected goals.

Outcome

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Simulation performance results

Position

As illustrated in Figures 1 and 2, the positioning of Two Plus, in terms of pricing and quality, has improved in 2023 (round 3) than the previous round (2022). Yet, the positioning of Two Plus in 2023 does not show effectiveness in the performance of the brand, as it lagged behind other players (Savila, Wathoni and Santoso, 2019). In demonstrates the inefficiency of the company in dealing with fierce competition in the global smartphone industry and the potential difficulties it may face to sustain itself in the competitive markets.

KPIs

KPIs act as performance indicators for a company, and an organisation efficiently achieving it can be regarded as a successful performance (Asih, Purba and Sitorus, 2020). The main KPI of the company is to become the cheapest smartphone supplier and establish its image as an affordable smartphone brand. However, Two Plus is far from achieving its primary KPI as it did not perform well in developing the cheapest mobile phone and is still in the fifth position.

Financial performance

Both good and bad elements of MG Mobile's financial performance are evident. As an example of the company's successful performance, since 2021, its annual long-term debt reduction has been impressive. Reducing debts demonstrates the company's healthy financial situation and efficient use of its resources (Luo et al., 2019). However, the company's assets have also reduced from £1700000 to £1600000, which is a bad reflection on the band's success coupled with the reduction in debts. Additionally, the brand has been found to be having negative profit (refer to the income statement in figure 6). Furthermore, it has been discovered that MG Mobile underinvests in R&D and equipment, which may be viewed as one aspect that jeopardises its performance in the cutthroat industry. In order to increase its asset or asset utilisation methods, MG Mobile must concentrate on investing in these categories.

Performance review

Marketing
The company's marketing leaders did not make effective decisions for promoting the brand. Even though their major focus was on digital marketing, which is beneficial in today's business context, they mainly used SEO and not other available options such as social media or business networks. Additionally, SEO does not assure return on investments (ROI) (Kwangsawad et al., 2019). Moreover, in terms of offline marketing Two Plus has kept its budget for that really low, which might affect its efficiency in developing campaigns. Conversely, this gap can jeopardise the brand's efficiency in reaching a broader customer base. Customer acquisition is a pivotal component for the success of a business and its sustainability, and it is one of the major reasons for dropping business sustainability over the years.

HR
In terms of HR, the company has decided to focus on bonusing their employees to address their target performance (1%) and exceeding target performance (2.5%). According to Skelton, Nattress and Dwyer (2020), rewarding and acknowledging are essential for managing performance and retaining employees within an organisation. Hence, the rewarding decision can be regarded as a major determinant for the sustained satisfaction of the employees. However, the leaders have not successfully sustained the education level and workload of the staff, which can be a major reason that the company is yet to achieve its capacity to hire permanent employees.

Logistics
Even though Two Plus focused on the quality of its logistic service and selected the most expensive supplier who could ensure the quality of logistic service, it created a gap between the organisational focus on affordability by enhancing production cost (Monios and Bergqvist, 2020). Due to this, the company has faced disruptive inventory outcomes and failed to meet customer demands, which is one of the primary factors for the gap in its competitiveness. Therefore, the company must improve its logistic operations and make decisions that are both performance-effective and cost-effective.

Product development
According to Prokop and Stejskal (2019), innovation and R&D are interrelated concepts that influence the process of developing products for every company, irrespective of the products they deal with. Especially for manufacturers working on technical devices, innovation acts as an essential boon to concur with the market and quality expectations of the customers. However, the leaders of Two Plus did not invest in R&D, which is a potential factor that has undermined the efficiency of the company in developing products to meet customer needs and market requirements.

Financial
Obtaining the financial resources necessary to launch a business is typically a big hurdle for startups in terms of money (Haase and Eberl, 2019). As a result, to satisfy the company's financial needs, MG Mobile took out linear loans. In order to lessen the financial responsibilities associated with loans, MG Mobile has developed an effective approach known as a linear loan, which is a straightforward type of mortgage where the lender must return a certain sum yearly (Beatty and Liao, 2020). However, there has been a substantial financial imbalance in the form of a £533,000.00 loss in 2023, which is mostly attributable to the organisation's lack of attention to the effective utilisation of its assets to increase productivity.

Future strategy

Key decisions for the next 5 years

For the next five, two plus can enhance the idea regarding the implementation of the strategy that helps the company to win the high market competition and the strategies also effectively diminish the issues that the company is currently facing. The issue of the company, like asset utilisation, solving the issue of the Logistic partners, etc., can be solved through strategy implementation.
Creating contracts with cheaper logistics partners: The cost of logistics can be reduced with the help of creating contracts with logistics companies that are able to provide low-cost services (Dekhne et al., 2019). The company can also choose the logistics that are able to supply the low-cost service and use electric vehicles that also help the company in sustainability.

Implementation of innovation: The implementation of innovative ideas helps the company reduce the cost of the product, which helps in supplying the goods at a low cost (Esmaeilian et al., 2020). In solving the organisational issues, the promotion of efficiency is effective and helps the company to create its unique position in the market. With the help of the innovations, the company can successfully use the research and development strategy, which is significant for mitigating the multiple challenges faced by the company in the industry.

Employee satisfaction: Employee satisfaction helps in retaining the talent in the organisation, which is the greatest way to engage the best talent in production and selling (Zainee and Puteh, 2020). A good relationship should be created by the leaders with the employees so that they can understand the importance and value of the product and work effectively in enhancing the organisational performance.

Changes to the current strategy
It has been highlighted previously that the changes required in the existing organisational strategy regarding the logistic issues and redevelopment of the product. The leaders of the company, two Plus, highly focused on the quality of the logistics so that the customers get the supply of the product within a short time period, but it enhances the total cost of the company, and the impact of this is also fallen in the profitability of the business. The brand should focus on the cost of production in addition to the investment in research and development as it helps the company to know about the market demand and the strategies taken by the competitors to win the high competition in the industry (Björkdahl, 2020). The company can take loans from the banks and invest in research and development so that the management can understand the issues and the scope of the development. Investing in research and development helps the company get a good return on the investment by promoting innovation (Alam et al., 2019). The employees' innovative ideas help develop the existing product and launch a customer-centric product in the market.

Recommendations
The following recommendation helps the management of Two plus company to overcome the issues of the business that the company is currently facing.
• The new investment strategy and development of the old strategy of investment are much more effective for the leaders in overcoming the financial risk of the business (Malnight et al., 2019). If the management and higher authority of the company are able to utilise the assets, it helps in developing performance efficiency.
• The company should reduce the expenses of logistics to get positive financial outcomes (Khan et al., 2020). In order to increase the performance of the employees and get positive outcomes, the strategy's contribution to reducing costs is high.
• The staffs are the essential asset of the company and are the main actions for creating value for the organisation. The HR managers can take the strategy of rewards and motivating the employees so that they can perform effectively. It also helps in retaining the talent in the organisation, and the productivity of the employees is enhanced through which overall productivity is enhanced (Ali and Anwar, 2021).

Explain areas for potential growth
The areas that help the companies to create the potential growth of the business are changing the current practices and adopting some effective practices that help in the product development process. The HR practice of the company can also be improved by adopting the current process of employee satisfaction, by utilising the multiple scopes for doing business like increasing demand for the mobile, the scope for reducing cost and sustainability. The company also get the scope of collecting finance from the market and investing in the business. The company also get the scope to communicate with the customers with the help of digital marketing (Kurdi et al., 2022). The availability of skilled and knowledgeable employees is also increasing, and the impact of this can also be fallen in the company's productivity as the company get the facility for hiring skilled and knowledgeable labours.

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Part B: Individual reflective report

Report Summary

This report is intended to evaluate the business simulation of TwoPlus company, where the company intends to develop a mobile phone that has innovative features and can be available at the cheapest cost. Smartphones in this present time are becoming very costly, and due to offering various innovative features, companies are also taking a huge range of these electronics (Morris, 2020). However, TwoPlus aimed to provide such a smartphone that is less costly and has all the required applications in it. In this present time, the business market of mobile phones is in huge competition, and the organisation also needs to implement some innovative ideas for better business performance. TwoPlus is a small young business sector that aims to lead in the international business market and give high competition to the other smartphone companies. With a strong management team, the organisation intends to traditionally influence the global business market and establish an ambitious plan. Offers in the global business market of the company have a plan for creating a respectable size with more business opportunities (Idris, Din and Tajuddin, 2020). This business simultaneously has different series of rounds that review the result of the previous year of this smartphone company.

Introduction and Identified events
In this study of business simulation with professional development, TwoPlus is one of the new businesses in the market and is known for selling smartphones. The main of this company is to provide an affordable smartphone for consumers so that every customer can buy the phone. Business simulation is the tool that enhances an organisation's learning and development with an aligned strategy (Radovic, Hummel and Vermeulen, 2021). This business simulation also helps the business sectors to implement strategies and improve business financial skills and business acumen from its bottom line. In five weeks, toral five events were conducted, and this section of this report is willing to introduce and identify the events that took place in this performance review. Due to these five weeks of marketing and strategy events, I have focused on the major side of this project, and in this area, I am going to discuss Kolb's reflective theory(Slade et al., 2019).

Kolb's reflective theory is implemented here so it can provide experience transformation with its four vital states. The first stage is a concrete experience which refers to the feeling for this business project. The second stage defines reflective observation, which indicates the watching of the business process and identifies if the business sector is making a profit or not. The third stage indicates abstract conceptualisation that defines thinking, and the last stage is active experimentation which refers to doing (Taylor, 2019). With the help of this reflective model, I can evaluate my experience from this business simulation. TwoPlus is a mobile company that intends to provide a strong market competition with their innovative mobile phone service, which is very affordable for every people.
Concrete experience: This is the first stage where I could experience the market competition of this product and how TwoPlus is about to use its innovative strategies for business improvement and profitability.

New experience reflective observation: In this second stage, I have gathered new experience about the business sector, where I could reflect on the new experience regarding this project development. This stage also provides inconsistencies between understanding and experience.

Abstract conceptualisation: This is the third stage of this reflective model, where I can implement the new idea for this smartphone business and the idea of getting competitive advantages in business. The present business competition has provided a brief reflection with conceptualisation, and here I can take an abstract from the existing concept.

Active experimentation:
In this fourth stage, active expectation is developed here with the rise of experimentation and here, I can apply my idea as a team leader. Through this last stage, I can also identify the result of new experiences and analysis of the possibility of future situations.

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Application of the theories of new launches of the items

Application of theories for the events

The communications mix theory is one of the marketing theories. This involves the tools for communication with the customers and potential customers as well (Metcalfe, 2019). This theory can help with advertising, product packaging, social media, events, direct marketing, and exhibition for this new business. With a successful campaign, this theory can consider all the elements of a business with better results. Effective use of this area can also create a multi-channel campaign for the smartphone business of TwoPlus (Amin and Priansah, 2019). This marketing communication mix is also different from the marketing mix. The marketing mix involves seven different areas of a business, but the communication mix only refers to the tools that can influence the Customers. This marketing communication tool involves a promotional mix with five different elements: advertising through PPC, press, radio and TV. Digital and direct marketing with gamification, social media and email (Dwityas et al., 2020). On the other hand, public relations is another process of this theory that creates positive views through partnerships with journalists, newspapers and other relevant organisations. Personal selling is B2C selling which is also involved here that encourages customers to buy the organisation's product. In addition, sales promotion offers some specific deals for the products that help the organisations increase customer volume. Though this theory is one of the best approaches for communicating or developing a connection with customers, the strategies taken for this business were not enough for it, making them face a huge loss (Adeola, Hinson and Evans, 2020). TwoPlus has focused only on its product offering and selling strategies but did not do any strategic planning for competing in the business market, which was also risky for the company.

Rational expectation theory is the financial theory that represents the financial events of this smartphone company that also refers to some best available information that involves the marketing and past trends of the organisation. This rational expectation is the concept that people learn from past mistakes (Angeletos, Huo and Sastry, 2021). This theory also forecasts the unbiased, and people use this theory to check the available information for making decisions. In this place, people can understand the work economy, government policies and variables of macroeconomics such as unemployment level, price level, and aggregate output. This theory is implemented in both weak and strong versions of an organisation for collecting available information and drawing rational decisions on the basis of the information (Assenza et al., 2021). The majority of macroeconomics in this present time use rational expectations to analyse the organisation's policies. This policy is also applicable for accessing relevant information and sometimes provides less knowledge. This rational expectation knowledge is also used to test inflation forecasts' accuracy (Bordalo et al., 2020). The adaptive expectation of this theory is used in rational decision-making, and its best available information can help in making market-related decisions for past trends and also the prediction of future outcomes. However, this theory has some limitations that do not allow the company to measure expected variables. In this financial stage also, TwoPlus did not apply any improved financial strategy for their company which made them get into financial issues for the company business (Bordalo et al., 2020).

Strategic contingency theory is an HR theory that can be implemented in this study that suggests two major concepts with strategic and contingency of contingency aspects. This theory has different tasks that create subunit effects. This contingency theory also becomes strategic while strat controlling the contingencies and making a powerful decision for the organisation. In the event of TwoPlus, this contingency theory can make the leaders a central part of the organisation with unique skills. The biggest HR challenges also become unable to solve where major indigency lies on the organisation's leaders. The major factor that takes part in this event is strategic contingency management. With the advantage of this theory, the organisation can focus on the problem-solving process rather than being stuck in the problem. As the main motive of TwoPlus is to introduce the cheapest smartphone to consumers, the organisation must emphasise the personality of human resource management. This theory is also recognised as the problem-solving theory, which can be effective for team leaders as well. However, the lack of relevant strategic application in the section has caused the company to get into strategic issues for this smartphone manufacturing company. Without developing strategic planning, TwoPlus started its business in the global market, and as a result, the business strategy failed the company. Though the company aimed to meet the quality need of this business still, shaping this future technology was not much satisfied for the customers.

Relevancy of these theories to my events

With the help of this communication mix theory, I could majorly connect with my consumers, which would provide me with the benefits of an effective com unification strategy for influencing the customers. This implemented theory of this study is an option for developing a positive marketing strategy for a business. As a leader, it is important for me to have strong communication skills in my efficiency (Buhalis and Volchek, 2021). However, my lack of communication skills in my leadership role also needs to be improved. Being a leader of this management team, I also need to prepare myself to influence my team members, which can help me complete my job role in the sector. On the other hand, with traditional explanation theory, I can keep track of the financial freeport of the organisation. This low-cost smartphone manufacturing system of the organisation is one of the beneficial approaches. Still, it is also important for me to use this financial technique to evaluate the organisation's financial report (Wilhelm, 2022). Application of this theory also made me understand the need for this financial report tracking of a business sector, as practising this theory could align me with target organisational events and their profitability from the present business market.

In terms of contingency theory of human resource management, it can be defined as leadership that depends on the circumstances (Sullivan, White and Hanemann, 2019). In the case of Two Plus's business simulation activities, the business has had multiple negative outcomes in managing its operations effectively in the competitive market. The leaders have failed to make effective decisions that can promote the financial, operational as well as promotional performance of the company. On the other hand, human resources and internal organisational capability have also been affected by the decisions and situational hostility. Therefore, the application of the contingency model of leadership can be an effective strategy for the leaders to address the issue in the context as it is majorly used as a problem-based leadership style, which addresses specific situational issues.

However, the contingency leadership style requires individuals to be adaptable and flexible enough to change their approach by understanding the situation needs of a company (Nwachukwu and Vu, 2020). In my case, I have noticed that I am not much flexible, as my ability to adapt to different conditions is really low, along with my ability to communicate with others. Collaboration is also essential for addressing specific problematic situations in different organisations, and I do not have that either (Benmira and Agboola, 2021). Therefore, I have decided to work on my core competencies and build readiness in me to develop the capacity for addressing issues in my professional field, which I failed to do in this simulation task.

Discussion and recommendations

Professional development
In terms of professional development, this experience has helped me in many ways to enhance my skills and knowledge regarding the field of business management. By profession, I aspire to become a marketing manager in future, which asks for some explicit skills and knowledge regarding business, the market and more (Tien, Phu and Chi, 2019). Moreover, marketing is one of the most crucial pillars of the organisational management system as it allows the leaders to overcome and enhance brand familiarity, communicate with customers, convey the brand's message and more (Nguyen, 2020). Even though I had some basic knowledge regarding marketing communications, this task has helped me broaden the area of my knowledge and competence regarding the field.

Being specific about my professional competence development through this task, I have found that my communication skills while working in a professional team has improved. Previously, I had no professional experience that could lead my way through working in a professional team with experts from different departments such as HR, finance, operations, supply chain, risk management and more (Wang et al., 2019). This lack of experience has been one of the primary triggers for the gap in my skillsets to communicate and collaborate with different members of my team. However, this experience has somewhat helped me improve these skills.

On the other hand, decision-making is another crucial part of business management, as the efficiency of decisions regulates the efficiency of business performance. In my case, I have identified my gap in knowledge of marketing has been one of the major factors contributing to the gap in my ability to make effective decisions. For instance, I have chosen SEO to be the primary marketing activity. Even though SEO is broadly used by businesses, it does not guarantee customer acquisition (Bahri and Purba, 2021). Additionally, there are many other online and offline marketing tools that Two Plus can use to enhance its brand familiarity and customer acquisition. However, I have failed to think critically to make proper decisions to boost marketing outcomes for the company.
Taking feedback is another essential skill of individuals that can help them understand the gap in their practice and eventually promote them. According to Ramani et al. (2019), efficiency in taking feedback is a key activity that promotes individuals' capacity to go through continuous improvement. Additionally, continuous improvement is an essential part of the professional success of individuals. However, it requires professionals to be effective in communication, which is not one of my areas of expertise. Therefore, along with communication skills, I will also work on developing skills in getting people's feedback.

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Recommendations

Skills

Required actions

Resources

Time-bound

Effective communication

•     In this process, I must focus on communication with the team members (Zakirova et al., 2019).

•     Conducting several meetings and conversations with the members can fulfil my skill improvement.

•     Establishing an effective communication strategy among the team members can provide a positive movement in my marketing manager job role (Jurabaevich and Bulturbayevich, 2020).

•     Arranging several meetings for a project is also very important.

Within the next 3 months

Decision-making

•     In the project, decision-making is one of the crucial stages, where I must take an effective decision with the members (Al-Ababneh and Alrhaimi, 2020).

•     In this place, I also need to use some strategies by implementing critical thinking for my workforce.

•     In this place, I will think about the project from a different angle and try to focus on the lacking area of the project, which will help me in decision-making.

Within the next 5 months

Team collaboration

•     Involving each member in a project improves team collaboration, and I can make smooth cooperation with each member.

•     On the other hand, in this place, I can motivate the team members for good team collaboration.

•     As per the resource of this team collaboration, I must identify the strength and weaknesses of my team members and take action for this (Tadjer et al., 2020).

Within the next 4 months

Collecting and providing feedback to the team members

•     Feedback is the process of making me aware of the present business strategy, and this process also led me to understand the team member's expectations as well (Tinh, Thuy and Ngoc Huy, 2021).

•     On the other hand, providing feedback from my side can also help them to improve their lacking areas of skills.

•     This feedback collection and providing the process can help me to improve my own and my team member's skills.

Within the next 5 months, 6

Knowledge acquiring and gaining

•     In this stage, I need to keep track of the information regarding my job sector, which will enhance my knowledge.

•     On the other hand, here, I can acquire my knowledge and use it for future improvement.

•     Documentation is the process of keeping track of all important information about the workplace and workforce, and this is one of the best resources for gaining and acquiring knowledge. 

Within the next 12 months

Conclusion

This paper was created to examine the business model of the TwoPlus firm, which aims to provide mobile devices with cutting-edge capabilities that are still affordable. The commercial mobile phone industry is currently quite competitive, and the organisation must also put some creative ideas into practice to improve corporate success. TwoPlus is a small, emerging business sector that wants to dominate the global market and fiercely compete with other smartphone manufacturers. The organisation aspires to typically affect the international business market and build an ambitious strategy with a strong management team. The company's offers in the international business market have a strategy for growing to a respectable size with additional business chances. The results of the previous year of this smartphone firm are being reviewed in many rounds of this business at the same time. As found from the evaluation, the company has significant gaps in their decision-making process, which has created a significant gap in organisational performance. Many of the gaps were induced by my own skillsets. As identified, I have significant gaps in my communication, decision-making, team collaboration, and feedback-seeking skills. These skills can help me remote my professional efficiency. Hence, I will work on promoting my skills to promote my professional competency as a marketing manager in future.

FAQ - Business Simulation with Professional Development

  • Q: What is a business simulation?
  • Q: What are the benefits of participating in a business simulation with professional development?
  • Q: Who can benefit from a business simulation?
  • Q: What format will the simulation take?
  • Q: How much time will the simulation take?
  • Q: What kind of professional development will be offered alongside the simulation?

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