The Importance Of A Business And Understanding Individual 's Strengths And Weaknesses

The aim of the Competition and Strategy course is to provide students with deep knowledge on strategic decision-making in a business environment and the strategic principles behind it. Within this course my team members Kristijan, Yaniv, George and me (Team KUGY) had the opportunity to apply our academic and theoretical understanding and knowledge in an online business simulation game, wherein we created our own car business and competed on the European car market fictionally. This paper aims to elucidate the advance of our strategic decision-making, observes the reasoning behind it and examines the following implementation of our approach.

Organisations are social entities that involve individuals and groups to obtain benefits and goals in different ways. The struggle for resources, personal conflicts and a variety of influence tactics used by these social entities assists in obtaining them.

There are many differences between business organisations, beginning with the purpose and goals of an organisation. Business organisations belong to various different categories including the private, public and non-profit sectors. This assignment will discuss a business organisation from each of those sectors, outlining the purpose, objectives, and stakeholders of each. It will also discuss the different ways that global factors and market structures can impact each of those companies.

I will discuss how the organisational life cycle applies to the company Aldi and I will also use concepts and theories from this module to support my answer.

The purpose of business, in addition to making money, is production. I believe that production is the purpose of business because it means the production or manufacturing from components or raw materials to produce something new. When you create a product from new materials, new products are created that may make it easier for society to benefit from. Imagine a world where we could only access the materials, tools, and resources that were in walking distance of our living area. I can only imagine that it was hard back in the 1800s for people to get the medicine they needed, the food they needed, or even clothes to wear. Henry Ford has a great opinion on the fact that many people are not fit to do every job, and he touches on the idea of people producing for an exchange of goods that they need. He said, “It is self – evident that a majority of people in the world are not mentally – even if they are physically – capable of making a good living. That is, they are not capable of furnishing with their own hands a sufficient quantity of the goods which this world needs to be able to exchange their unaided products for the goods which they need” (Henry Ford, p. 500 line 30).

As a whole the book presents a wealth of business savvy, essential to businesses of any level, ranging from the novice entrepreneur to the experienced business executive. Within this book, which is part business primer, part psychology lesson, part biology

In this day and age all individuals will have some affiliation with a business organisation. Whether it be the company they work for, the retail store they purchase their groceries or the NHS dentist they attend individuals of society are all affiliated, controlled and in control of business organisation. Organisations may be established for a number of reasons and serve various purposes, their activities can be affected by a range of different

in running a business. For instance: profit, people, lack of control, nothing’s working and the

We’re fortunate to be living in the age of the technological gold rush. Every day, more and more individuals are leaving their jobs to either join or found their own tech start up or become a key member of one. Graduates are no longer waiting for employers to offer them jobs, they’re creating them, most importantly, and the new age entrepreneur is glorified through articles, shows and featured films. Simply put, it’s cool to be an entrepreneur.

The business gaming community seems lately to have adopted the term business simulation game instead of just gaming or just simulation. The word simulation is sometimes considered too mechanistic for educational purposes. Simulation also refers to activities where an optimum for some problem is searched for, while this is not usually the aim of an educational game. On the other hand, the word game can imply time wasting, not taking things too

There are different agendas of people who are willing to join a group; prior knowledge, skills, threat, fear, attitudes, personality, previous experience of group work, cultural and religious factors and etc (Elwyn G et al, 2001). Therefore, organisation is a kind of social action where different individuals pursue pre-determined objective as a corporate identity.

In today’s world Information and technology (IT) has change the way of company’s business processes; they are interacting with their customers through Internet online at home or on mobile phone. Their way of delivering services are also changed because of that and now there customer scope is wider. Now with the help of IT they don’t have to present everywhere physically. The key factor behind the success of business is effective and effective IT alignment with business strategies and processes. Necessity of alignment is felt in numerous articles and case studies. As per one

Globalization and increased speed in business intensify competition, and most firms need to continuously innovate to ensure long term competitiveness. (Bjork and Magnusson, 2009) In the last couple of years business has seen huge transformations from the way it is conducted. Any small business may eventually grow into a bigger one or may even develop into a huge company or corporation in the future. However, these foreseen growth and development will not just happen in a mouse click or a wink of an eye. This process needs hard work and proper management to flourish each day. For

In modern organizations they always have to keep very close eyes on what coming next. In order to retain their position and sustain the market they always have to keep making changes in their organisational structure to meet the demands for their stakeholders.

In today’s world, different types of business have emerged and business operations have become the cornerstone of making a success, however the way in which they are operated is what is important. Most businesses hunt the main objective of making a profit without considering how that might affect other factors of society and that is what in most cases diminishes the longevity of the organisation.