Business Simulation Project, Assessment Example

Introduction

Reflection is a technique for gleaning information from recent events while also underlining their importance. “To ponder” is an informal way of saying “to think about.” Reflective practitioners engage in a continuous loop of reflection to better understand their behaviors and the emotions that those thoughts and responses elicit in learners. Instead of focusing on a single issue or topic, as is the case with practitioner research, the purpose is to evaluate and improve practice as a whole continually. When an event or occurrence is followed by appropriate action, reflective thinking occurs. Using common-sense Reflective thinking is required for problem-solving and evaluation abilities. The integration of theory and practice is required in learning. Thus it’s vital to reflect on your own experiences to become a skilled practitioner. Reflection is an essential professional practice strategy because it helps practitioners and students accomplish learning objectives and criteria.

When it comes to developing one’s teaching practice, Schön (1991, 120) emphasized the significance of both actions- and movement-based reflection. Regardless of the situation, you will learn more by putting what you’ve learned into action. To put it another way, if you want to see good change, you have to take a step back, look at what you’re saying, and figure out what it means. Certain practical forms of reflective practice have arisen from integrating teaching with reflection to understand how we educate and its effects on student learning. These models all have one thing in common: Schön’s “Reflection-on-Action” notion (Conway, 1994, 114).

Literature about Reflection

Understanding one’s characteristics (attributes) and activities via self-reflection is a crucial part of the reflective process. Thinking critically is essential for grasping the material being studied and setting long-term objectives. Reflection may help you improve analytical reasoning, problem-solving, and analytical skills, which are important for learning. Effective learning approaches are at issue (Hatcher et al., 1997, 156). Metacognition demands focusing on a specific topic or need, whereas reflection is supported by experience-based concepts that need experiences as the foundation for learning. Learning and growth of analytical, critical thinking, and problem-solving abilities may both benefit from reflection. This has been shown. As a result, reflection is a crucial part of professional development since it encourages learning and improvement (Hatcher et al., 1997, p.155).

The Reflective Model Used and Reasons Why they were used.

Experiences alone are insufficient to form concepts; feelings and thoughts are also required (Amanda, 2017, p.663). The Gibbs Model helped me improve. Gibbs’ model contains six steps. A final product is improved in Stages 4–8. Begin by summarizing the event. Pre, during, and post-touch emotions are addressed. 2nd: how these feelings influenced events So you can see the event’s benefits and downsides. Next, evaluate the experience’s worth. Step 5: Conclusions, lessons learned, and action plan (Amanda, 2017, p.663).

I appreciate the Gibbs reflecting approach because it helps me learn lifelong (Wilding, 2008, p.720). One of my favorite models is a strategy, plan, or solution. Reputability allows for assessing activities like regular communication with coworkers (Wilding, 2008, p.720). Technology brings challenges and possibilities, which have generated much thought. It’s a hot subject now because of new technology. Companies may disrupt markets by integrating technologies. No amount of R&D can substitute business development. We did our homework for our project simulation. Investing in R&D was the goal. Our company’s 6-year strategic plan forecasts a larger market share for green cars (Jarvis, 1994, 81).

Simulating green vehicle production is a business possibility. The country must invest in R&D to become a worldwide leader in accessible and eco-friendly car manufacture. Workplace technology helps companies innovate, compete, and grow revenue. A tech-savvy company may look for new ways to compete. So I’m interested in technological difficulties and new business opportunities. (Osiyevskyy, 2015, p.115) In this case, non-combustible Verde vehicle research may help a corporation overcome a non-environmental issue. So a corporate problem becomes an opportunity.

Because of the simulation project, I’ve thought a lot about real-world teamwork. Lewis-McClear and Taylor (2015) describe a team as “a group of people who work together to accomplish a common purpose.” Our simulation team worked together to attain a goal. The group needs to share duties and responsibilities to work well. The executive team was engaged in the project’s success. Group members were given management systems, payroll, performance assessments, research and development, and operations depending on their skills. Strengthening teamwork with varying talents (Naveenan & Kumar, 2018, p.18). Teamwork improved firm performance. Workplace ethics and personal responsibility were also hard-earned abilities. Working on the business simulation project helped me meet the course goals. It helped me understand business. The Tuckman Team Model can address team disputes, as can the DISC model, GRIP model, and Thomas-Kilmann Conflict Model (Benoliel, 2017, p.1). A strategy to obtain a different outcome is developed in the sixth step of the Gibbs reflection model. This is a possibility. We worked for a business called DMC in the simulation industry. Listed below are the five members of a car manufacturer’s board of directors, with C serving as the CEO (Chief Executive Officer).K was the Chief Operating Officer (or chief executive officer).S was a chief financial officer (Chief Financial Officer).E. was the Chief People Officer (Chief Executive Officer).M. was the CMO (Chief Marketer Officer).There were a total of five rounds.

In the first round, we got to know one another and discovered each other’s strengths and weaknesses. The second round saw the beginning of the collaboration, and the third round saw the formation of a stable partnership. There were, however, a number of competing points of view expressed. As an example, K wished to increase automation investment. Still, S objected on the grounds of cost, where the required budget was GBP 300 million to be invested in a new system. Still, with careful study and collaboration between C, K, and S, the project began realizing a 60% increase in share price and a significant increase in ROI. By the fourth round, the team’s bond had grown stronger, and all of the team members supported the decisions made in this round. Final decision: 300 people would be let go. The strategy was accepted by E and all other board members, showing that Tuckman’s group had achieved its zenith by this point, even if the CEO had to make a painful choice.

S.M.A.R.T Action Plan

The most crucial elements in every manager’s management process are setting goals and developing related action plans (Doran, 1981, 36 ). As a business leader, my goal is to boost my practice’s sales productivity by 50% in two years by investing in R&D and developing systems that will help the firm stay up with changing technologies. Long-term plans call for me to enhance financial assistance for the R&D department over the next two years to achieve more successful technological advancements. As a result, current sales productivity will be quadrupled, yet the organization’s personal and financial stability will be retained. Over the next two years, I intend to improve sales productivity, to double it. Below is a table showing our SMART chart.

Conclusion

Students and professionals alike may benefit from reflective learning to assess and evaluate previously defined objectives and goals. The practice of critically analyzing anything after thinking about it, such as a previous experience or thought, is known as reflective learning or RL. When students reflect, they can take what they’ve learned and transform it into deeper understanding by evaluating the good and failed components. Critical thinking is required in conjunction with reflective learning and practice, on the other hand. Thoughtful people may explore their feelings, ideas, beliefs, and values more deeply because they can critically examine an event. Critical thinking gives you the ability to form conclusions, learn from your mistakes, and develop a game plan based on what you’ve learned. Reflection, which makes use of previous experience, aids both personal growth and lifelong learning. It serves as a focal point for people’s information, influencing and directing it in the right direction. To develop conclusions that are essential to the learning process, critical reflection thus incorporates both information comprehension components.

References

Conway, J., 1994. Reflection, the art and science of nursing and the theory-practice gap. British Journal of Nursing, 3(3), pp.114-118.

Doran, G.T., 1981. There’s a SMART way to write management’s goals and objectives. Management Review, 70(11), pp.35-36.

Hatcher, J.A. and Bringle, R.G., 1997. Reflection: Bridging the gap between service and learning. College teaching, 45(4), pp.153-158.

Jarvis, Peter (1994): Learning Practical Knowledge, in Journal of Further and Higher Education, Bd. 18, Nr. 1, S. 31–43, [online] doi:10.1080/0309877940180104.

Naveenan, R.V. Naveenan/B. Ravi Kumar (2018): Impact of Group Dynamics on Team, in American International Journal of Social Science Research, Bd. 2, Nr. 2, S. 16–23, [online] doi:10.46281/aijssr.v2i2.175.

Osiyevskyy, Oleksiy (2015): Business Model Design and Innovation in the Process of the Expansion a, SpringerLink, [online] https://link.springer.com/chapter/10.1057/9781137429599_7?error=cookies_not_supported&code=1077b1c8-8106-4dda-ab74-6b4f49cebd2b#citeas [abgerufen am 29.10.2021].

Sherman, Ultan P./Michael J. Morley (2015): On the Formation of the Psychological Contract, Group & Organization Management, Bd. 40, Nr. 2, S. 160–192, [online] doi:10.1177/1059601115574944.

Schön, D.A., 2017. The reflective practitioner: How professionals think in action. Routledge.

Wain, Amanda (2017): Learning through reflection, in British Journal of Midwifery, Bd. 25, Nr. 10, S. 662–666, [online] doi:10.12968/bjom.2017.25.10.662.

Walden University (2017): What’s Your Conflict Management Style?, Walden University, [online] https://www.waldenu.edu/news-and-events/walden-news/2017/0530-whats-your-conflict-management-style [abgerufen am 29.10.2021].