Table of Contents
Results of MikesBikes, NGUYEN, Thi Ngoc Dieu Inc.
Team Work Theory.
Simulation game has been established as holding outstanding value within the diverse societal segmentation. Research by a different scholar has also proven the importance of simulation within society. Apart from researchers of varying field, specialist of information technology (IT) has also provided proper attention within the particular area. Considering the recent reports, the aspects of simulation have been proven to be playing a significant role in the learning and teaching within the educational industry. However, certain studies also reflected the importance of simulation technology within the field of business. It is because, as per Jalali, Siegel and Madnick (2019), through simulation technology, entrepreneurs alongside managers gain the benefit of projecting different aspects of the business. It also enhances the level of performance in the domain. However, Bloechl and Schneider (2016) outlined that the mentioned technology is effective in bringing the desired success level within the business. Hence, it deals with innovative techniques further executing the objectives of a business.
In addition to this, the concept of business stimulation is further determined through the engagement of people through different entrepreneurship activities. As estimated by Wen, Lin, Chen and Andersen (2019), innovation within the operations of entrepreneurship increases the productivity further bringing benefit to the business. This concept determines the interests of the company through the attainment of the targeted goals. Conversely, as argued by Salmon, Stanton and Jenkins (2017), development of the business software took place in the past years due to the enormous attention in the event of IT. Smartism, on the other hand, is considered standard software for the stimulation of business. It is useful in projecting proper outcomes for the development of smart bikes. The company that study current deals with is called NGUYEN, Thi Ngoc Dieu Inc and is involved in the production of intelligent motorcycles. Hence, the study will be dealing with a reflective report based on the stimulation business of MikesBikes in terms of NGUYEN, Thi Ngoc Dieu Inc in the development of smart bikes.
Running a stimulation business technology includes the implementation of a possible outcome based on business ideas. As per the illustration of Robert (2018), it is focusing on the issue that helps in determining the proper actions and increases the success rate within the business. However, the aspects of running the stimulation have assisted me in reflecting the monetary requirements of the industry alongside its desired standard. Previously, it has been depicted that the element of stimulation helps in confiding within the entrepreneurs. This is analyzed as compelling aspects as it helps in building the success criteria. Nonetheless, I have learnt several skills apart from the expertise of decision-making, communication and analysis. The powers that I have been capable of capturing include projecting the possible outcomes within a business and analyzing the rat of success and failure determining the inputs within the market. This has further helped me in analyzing the strengths and weakness of the company. It also created an opportunity for me of using the opportunity and derived the desired results.
In the first instance, it can be observed that my team members and I handled the project. It includes the production of different types of bikes, including sports bikes, mountain bikes, road bike and youth bikes. The mentioned projects are the main components of the company. However, the company is channelizing different products differently. Considering the figure 1, it can be analyzed that the TV, magazine and internet are considered as the primary source of advertisement, and the majority of the aspects contributes to magazine and internet.
Alternatively, from the figure below it can be analyzed that the retail price of road bikes are more than that of the mountain and youth bikes. This also helps in determining the products specs and distribution and delivery of the bikes.
The simulation, in other words, helps in the projection of the income in the future. This, in turn, helps in the establishment of the possible facts and analyzes the different criteria related to the business. Through the illustration of the various aspects, the company is liable to gain the desired profitability within the domain. The following figure depicts the financial analysis of the current business plan.
From the above figure, the financial planning of the current company can be analyzed. Comparing the existing company with the Mountain Top Cycles, it can be observed that the value of shareholders is lower depicting $20.8 than the Mountain Top Cycles reflecting a cost of $24.91. The changes in the number of shareholders of the current company are also observed to be lower than the other companies within the market. Besides, the share price also reflects the same value as shareholders value and is lower than the other company is. However, considering the fact that the company is new in the market, the value depicting the share price and the shareholders are not wrong. The presented instances also represent the fact the company is capable of increasing its share value in the future and provide the other companies with fierce competition. Hence, this fact also implements motivational factors for all the entrepreneurs related to the current business.
In another instance from the figure above it can be analyzed that the wholesale rate, brand advertisement brand awareness PR and others of the current company is lower than that of the other company reflected in the table. However, considering the fact of new development, the indicated prices are deemed having a positive impact on the future operations of the company. I think that in the next instances, the current company is likely to be topping the reflected company in the figure. It is also being estimated by me that the company that the study current deals with is having the highest possibility of acquisition of the targeted goals within the domain.
Besides, from the Smartism software, it can further be established that my team and I have put or consistent effort that focuses on the development of the project. It is because, considering the current instances and development of the criteria by my team, the company is going to be having a competitive edge. Besides, the internal analysis calculated by my team also depicts that the company is having the chances of proliferating within the marketplace. Overall, it can be concluded that Thi Ngoc Dieu Inc in the future is probable of deriving a competitive edge and is likely of acquiring a rapidly growing environment. Hence, considering the domains of the plan, it is regarded as a promising plan, thereby all our efforts are appreciated in bringing the desired worth to it.
Working in teams is considered to be effective in acquiring the desired worth within a project. As reflected by Casper (2017), teamwork helps in completion of a task within a less amount of time and without any extra hazards. The concept of teamwork is mainly valued for the ability to work together while executing the targeted goals. However, implementing theories of cooperation can be useful in bringing success to the current project. It is because, as per Wen, Lin, Chen and Andersen (2019), proper management of communication can implement effective ways of bringing success to the current business stimulation. Being the leader of the current business stimulation team, I possess the responsibility of ensuring better production within the business. Hence, the concept of teamwork can be implemented in our project for ensuring proper productivity. Through this, I will be useful in maximizing the profit margin of the company.
Conversely, the theory of teamwork is considered a popular method utilized by different business entities. In addition to this, this theory has also helped me in managing my team effectively. It also assisted me in the implementation of proper strategy in bringing the desired worth. Besides the Teamwork theory by Tuckmen reflects certain stages including storming, forming, performing and norming (Tomizawa, Shigeta & Reeves, 2017). Based on this theory, our team will be following the mentioned steps. This will provide my team with the proper idea of executing the targeted goals and will be useful in creating a bonding among the team members. It will also help in determining the focus of my team members and set goals that will maximize the project value and benefit. Hence, the above-discussed section depicts the fact that the implementation of teamwork theory will maximize the profit of the current plan. It will also help me in controlling the different variations of the team and will execute the targeted value.
Summaries of the project value help in the analysis of the project success criteria along with its operational value. Focusing on the performance data can provide us with the desired knowledge regarding the current plan. The figure presented below deals with the analysis of the production planer and efficiency of the capacity of the current production.
Considering the production planner in the above figure, it can be analyzed that, the value of production of the current plan varies within the marketplace. Performance of the products available in the market also changes in the same way. As the performance of the products varies in the market, therefore, we should focus on a single product that comprises of the maximum ability to increase the market share. This will also contribute to the increase in expenditure and add to the overall performance level of the organization. Hence, focusing on the single aspects of production will help our team in bringing the desired profitability and success in the market.
The above figure depicts the efficiency of capacity regarding the production of the company. However, it is being determined by me that a plan’s efficiency dependents on team expenditure. This reflects the fact that a team needs to comply with the best methods for finalizing the spending and dealing with all the aspects of production effectively. It can also influence the outcome of the project. Henceforth, it can be established that the level of expenditure increases the level of efficiency.
Business stimulation is considered essential aspects of the business domain through several researchers. However, the usage of Smartism simulation gains the majority of importance in terms of strategic planning. This is also effective in the establishment of the goals and performs as desired within the market. Based on the business simulation, it can be observed that Thi Ngoc Dieu Inc is involved in the production of various types of bikes within the market. However, it has also been established that through the application of teamwork, I can be useful in bringing the desired success in it. It will provide the project with the immense benefit of improving the performance level and the production as well. Nonetheless, the simulation helped in analyzing the data of different companies available in the market. Based on the analysis, it can be reflected that Thi Ngoc Dieu Inc is having a low shareholders value, market share and others.
However, analyzing the market condition of the company, it can further be reflected that the company is likely to hold a significant market place in the future. It also is useful in gaining the desired market position alongside the desired profitability within the market. Hence, with the desired market share and profitability, the company is probable of functioning within the market. Keeping the circumstances in mind, my team and I came with different modes in terms of operations. We calculated the available data of the different while comparing without company. It can further be reflected from the services that the implementation of proper organization aspects can be helpful in the improvement of the performance of our team. Hence, through the simulation game and application of the theory of teamwork, I have been useful in calculating the beneficial factors of the organization.
Bloechl, S. J., & Schneider, M. (2016). Simulation game for intelligent production logistics–the PuLL learning factory. Procedia Cirp, 54, 130-135.
Casper, W. C. (2017). Teaching beyond the topic teaching teamwork skills in higher education. Journal of Higher Education Theory and Practice, 17(6).
Jalali, M. S., Siegel, M., & Madnick, S. (2019). Decision-making and biases in cybersecurity capability development: Evidence from a simulation game experiment. The Journal of Strategic Information Systems, 28(1), 66-82.
Robert, L. (2018). Motivational theory of human robot teamwork. Robert, LP (2018). Motivational Theory of Human Robot Teamwork, International Robotics & Automation Journal, 4(4), 248-251.
Salmon, P. M., Stanton, N. A., & Jenkins, D. P. (2017). Distributed situation awareness: Theory, measurement and application to teamwork. CRC Press.
Smartsims. 2020. MikesBikes Intro, Smartsims. Retrieved on 25 July 2020, from: https://course.smartsims.com/student/course-page/mikesbikes-intro#0
Tomizawa, R., Shigeta, M., & Reeves, S. (2017). Framework development for the assessment of interprofessional teamwork in mental health settings. Journal of Interprofessional Care, 31(1), 43-50.
Wen, Z. A., Lin, Z., Chen, R., & Andersen, E. (2019). What. hack: engaging anti-phishing training through a role-playing phishing simulation game. In Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems (pp. 1-12).
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