GoVenture CEO Simulation - Case Study Example

GoVenture CEO Simulation University Student Id Course Overview GoVenture is an international award winning software for simulations offering fast, effective and fun learning experience. The learning includes subjects like investment and finance, business and entrepreneurship, and life skills and career guidance. GoVenture is among the common and widely used educational games globally. It has been representing the learning future that is published and produced by media Spark Inc. GoVenture includes varying programs for all educational levels and ages aiming at enhancing the learning experience and entertainment. It is highly realistic and visual business that can ensure recreation of the daily experiences of running a business (Riedel, et al., 2015). Through the use of GoVenture Entrepreneur business people can be exposed to realistic problems and situations that are essential for the learning experience. Many learners enjoy GoVenture as it provides a whole learning dimension of experience and learning. They are in a position to take risks and understanding their abilities better. GoVenture has been performing well as it has improved the service delivery to its customers. The learners are equipped with the necessary entrepreneurship skills and enrich their skills in math. Besides, the learners are developing real insights concerning public relations and develop essential marketing skills (Antonaci, et al., 2014). GoVenture has managed to change the learning experience of the learners through making learning process engaging and full of fun. The students are being prepared for success as they are exposed to realistic world situations. As a result, GoVenture has managed to achieve its objectives by inspiring the learners using highly realistic, fun, and effective learning experiences. Critical analysis of the changing strategic environment GoVenture has been adjusting its operations to meet the needs of the learners by availing more competitive services. Considering the fact that GoVenture has changed its operations with the aim of meeting the needs of the learners, it has managed to gain a large market share. GoVenture has achieved competitive environment as the strategies that are adopted by the management are aligned with the preferences of the learners. However, the future competition is likely to be intense considering the technological changes that have been taking place in the industry (Collewaert and Sapienza, 2014). Many organizations are adopting technology to ensure that they deliver services that can meet the needs of the learners. The competitiveness of GoVenture can be associated with the ability to offer business options and realistic learning experiences. The business results can easily be monitored that include customer satisfaction, sales, and profits among other important aspects. Many businesses are now automating their operations making GoVenture important in helping the organization make decisions that are realistic through the simulations. The features provided by GoVenture can be beneficial in the process of helping learners achieve the necessary experience (Dagnino, 2015). For GoVenture CEO provides advisor help feature that is used in providing the necessary advice online concerning business. Different business situations can be analyzed with the aim of making decisions that can assist in addressing various problems. However, GoVenture has been facing some threats in the process of delivering its services. First, the technological changes have led to increasing the costs of operating due to the resulting need for change. GoVenture has ensured that the industry trend is kept by making the necessary adjustments while considering the changes taking place in the industry. As a result, the management of GoVenture has ensured that the operations are altered in the process of working towards meeting the change in the taste of the learners (Murmann and Sardana, 2013). The adjustment of the operations of the online service is mainly aimed at providing the necessary services to the customers. Besides, the adjustments are geared towards differentiating the services to better meet the taste of the learners than the rivals. The differentiation strategy employed by GoVenture in the process of becoming competitive in the market includes improving the accessibility of the services offered. Considering the SWOT analysis, increasing the number of similar services in the industry increases the level of competition. As a result, the availability of substitutes in the market is a threat to GoVenture hence affects its success negatively through reducing the market share. However, through differentiation GoVenture has been working towards eliminating the substitution effects from the similar services offered by other firms (Carvalho, et al., 2015). The management of GoVenture has managed to experience growth in the market through offering services that guarantee learners excellent service encounter. The management of GoVenture has responded to the increased competition in the industry through coming up with necessary strategies that can guarantee the company growth. According to the five forces model growth of a firm is important in improving the share size in the market. Review of the performance of GoVenture The management of GoVenture has been working towards becoming the best in the market through providing an excellent learning experience. Besides, GoVenture has worked towards ensuring that it achieves efficiency through adopting the technological advancements taking place. As a result, GoVenture has managed to achieve competitive advantages where it has offered better services that that of the competitors. The strategies that are adopted by the management are responsible for the success of GoVenture (Patterson and Biagi, 2003). For instance, the management has ensured that the stakeholders of the company are properly engaged in the process of formulating and implementing the strategies. As a result, the interests of the various stakeholders are given priority in the strategy formulation leading to successful implementation as resistance is eliminated. GoVenture is designed to offer educational and fun learning experiences. The measurements that can be used in the process of determining the success of the company. The measures can include the learning experiences and the success in helping learners in businesses. GoVenture allows detailed evaluation of business decisions with the aim of making sure that success of a guarantee. The performance of GoVenture can be considered to be high because of the ability of the company to meet the needs of the targeted customers (Bellotti, et al., 2014). For instance, the management has ensured that the learners are involved in the process of developing the services offered. Engaging the learners has helped GoVenture to come up with the necessary services that can meet the expectations of the learners through developing the competitive service features. Recommendations GoVenture needs to keep pace with the changes taking place in the industry with the aim of meeting the expectations of the learners. Any industry changes are a must and constant hence the need for the management to make sure that the strategies adopted are in line with the changes taking place. For instance, the management of GoVenture needs to make sure that the advancements in technology are embraced in the service delivery (Fili, 2014). The change in GoVenture can entail using technology changes to deliver the best services that can best meet the expectations of the learners and improve the service encounter. Besides, GoVenture should continue engaging the stakeholders in the strategy formulation and implementation. Engaging the stakeholders is important to eliminate resistance that is associated with the change in any organization. The stakeholders can be aware of the reasons for the changes and benefits where the management has to improve communication between the organization and the stakeholders. For instance, the learners need to be regularly engaged in the process of coming up with new product features that are necessary for meeting their needs (Markulis, Nugent and Strang, 2015). They can be given a chance to give their opinions concerning how the service delivery can be improved. Therefore, increasing the engagement of the stakeholders can be crucial in coming up with strategies that can help GoVenture in achieving competitive advantages. Group reflection Our teamwork was very effective and provided a room for improvement. In accordance to Collier and Edward, (2016), the team works which have high performance usually require particular characteristics, and we always met all those required characteristics. For instance, our team group had clearly defined roles as well as the assignment of work. Moreover, the members of the cross-functional team were usually held responsible for a single department. There were also other various characteristics which we met in the process of working as a team. For instance, I participated actively in the discussion groups through listening keenly to the opinions of my fellow members, as well as making suggestions basing on evidence. Besides, the majority of the suggestions which I made during the group discussions were conservative thus reducing the number of the forecast demand. The style of my team player acted a contributor hence impacting my way of participation during the discussion. As a result, I made review concerning the other reports of the previous years and then I tested the products specifications before going to the discussion meetings. Besides, during the meeting, I would bring a plan which is detailed concerning how we could make changes to our specifications. Apart from that, I always trusted my fellow members for the decisions which they came up with. However, the style of my team player, as well as my personality, has got its side effects in the process of achieving the set objectives. For instance, I realized that we were unable to get market share from other firms because of the current specifications. Besides, the contributor style had some limitations since it seemed to be much focused on the details rather than the overall strategy. Therefore, to make some improvement, I should pay more attention to the overall strategy as compared to the details. Importantly, it is quite important to avoid being over-pessimistic. Being over-pessimistic can be dangerous in the process of meeting personal objectives due to the high expectations. However, during the process of decision making, there were various occasions that were used in leading the teamwork by influencing the opinions of the members. In the group, were using both data and evidence in analyzing different situations. Self-reflection I have acquired enough experience in management of organizations where I have developed the necessary skills for achieving organizational improvements. For instance, I have both the marketing background and the accounting background and having a good understanding about the Capsim system. Besides, I have worked as the team tutor thus assisting other members to know how the system functions. I was placed to be in charge of the marketing department even though I used to provide important suggestions to the both production and the finance departments. Also, I was given the responsibility of collecting the necessary information from our competitors as well as analyzing the rivalry environment. I did an extensive research concerning the already existing products and the new products. My experience in the management of organizations can be important in the process of coming up with competitive strategies. References Antonaci, A., Bellotti, F., Berta, R., Dagnino, F.M., De Gloria, A., Lavagnino, E. and Ott, M., 2014. Entrepreneurship education: matters for reflection. TD Tecnologie Didattiche, 22(2), pp.68-73. Bellotti, F., Berta, R., De Gloria, A., Lavagnino, E., Antonaci, A., Dagnino, F., Ott, M., Romero, M., Usart, M. and Mayer, I.S., 2014. Serious games and the development of an entrepreneurial mindset in higher education engineering students. Entertainment Computing, 5(4), pp.357-366. Carvalho, M.B., Bellotti, F., Berta, R., De Gloria, A., Sedano, C.I., Hauge, J.B., Hu, J. and Rauterberg, M., 2015. An activity theory-based model for serious games analysis and conceptual design. Computers & education, 87, pp.166-181. Collewaert, V. and Sapienza, H.J., 2014. How does angel investor–entrepreneur conflict affect venture innovation? It depends. Entrepreneurship Theory and Practice. Collier, R. and Edward-Monds, K., 2016. Deploying the User-Centered Systems Development Model to Assess IS Products used to launch Entrepreneurship Ventures. Dagnino, F.M., 2015, August. 2.1 The Esg courses: Strategic objectives and contents addressed. In ECIE2015-10th European Conference on Innovation and Entrepreneurship: ECIE 2015 (p. 148). Academic Conferences and publishing limited. Fili, A., 2014. Business angel–venture negotiation in the post-investment relationship: the use of the good cop, bad cop strategy. Venture Capital, 16(4), pp.309-325. Markulis, P., Nugent, M. and Strang, D., 2015. Assessing the Role of Assessment in Business Simulations. Developments in Business Simulation and Experiential Learning, 42. Murmann, J.P. and Sardana, D., 2013. Successful entrepreneurs minimize risk. Australian Journal of Management, 38(1), pp.191-215. Patterson, P. and Biagi, S., 2003. The loom of change: weaving a new economy on Cape Breton. Cape Breton University Press. Riedel, J.C., Feng, Y., Hauge, J.M.B., Hansen, P.K. and Tasuya, S., 2015, June. The adoption and application of serious games in corporate training—The case of manufacturing. In Engineering, Technology and Innovation/International Technology Management Conference (ICE/ITMC), 2015 IEEE International Conference on (pp. 1-9). IEEE. Read More