Management Practice BSS063-6 Assignment

Posted: July 7th, 2022

This assignment requires you to participate in a competitive business game designed to simulate a realistic management situation, in which you will engage as part of a group and as a team of ‘Directors’. You will monitor the performance of your own business and the competition, adjusting your tactical decisions accordingly. The report should be 3,000 words (+/- 10%) and you should discuss how and why specific theories or models were applied to make the decisions made by your group in running the business. You should use evidence from the simulation (results) to demonstrate the effectiveness of the decision-making process, compare your own management performance to that recommended in the theory, and produce a critical evaluation of the usefulness of the tools and theories that were applied in running the business. You should support this evaluation with academic theory and produce recommendations focusing on how you and your group could use the tools, models and theories more effectively to obtain better results.

To pass, you must show adequate independence of thought in evaluating the usefulness of theory in practice applied to a live consultancy project or a simulated task of running a business, monitor performance and adjust decisions in the light of the success or failure in a competitive environment, demonstrate adequate appraisal of the complexity of management in the implementation of strategic decisions, and research, select, and use creatively appropriate business and management theory to manage and complete a project in the context of a new situation.

To produce high-quality work that merits a good grade, you should produce a professional and compelling report that draws on the theories and frameworks from the MBA toolkit to evaluate the performance of your organisation during the business simulation. Assignments attracting the highest marks will be focused, analytical, will include critical analysis that explores in-depth the implications of the issues under discussion, and this will be supported and evidenced thoroughly by using robust and valid academic material and frameworks from the MBA Toolkit. You must provide a clear introduction that provides a structure for your report and highlights the main topics and areas for discussion; a main body that includes a critique and analysis of your decision-making and strategy during the simulation in relation to your organisation’s performance; conclusions that are clearly derived from this analysis and recommendations that are clear and realistic to the demands of the task and nature of the business.
+++++++++

Unit title & code Management Practice BSS063-6
Assignment number and title 1. Report on Simulation
Assignment type Written Report
Weighting of assignment 100%
Size or length of assessment
3,000 words (+/- 10%, max 3,300 words)
Unit learning outcomes 1. Demonstrate a systematic understanding and critical appreciation of theories in the MBA toolkit to challenge existing preconceptions and develop positive and enquiring approaches to management and enterprise
2. Demonstrate intelligent practice by imaginatively and critically integrating theory and practice, stipulating areas of excellence and reflecting on areas for development to improve performance in a dynamic competitive environment
—–
The Master of Business Administration (MBA) degree is a postgraduate program that aims to equip individuals with the necessary knowledge and skills to succeed in the business world. One of the key aspects of an MBA program is the toolkit of theories that it provides to students. These theories range from finance, accounting, marketing, organizational behavior, and strategy, among others. The systematic understanding and critical appreciation of these theories are essential in challenging existing preconceptions and developing positive and enquiring approaches to management and enterprise.

To demonstrate a systematic understanding of theories in the MBA toolkit, students must first learn the fundamental principles of each theory. They must understand the underlying assumptions, concepts, and frameworks that guide each theory. Students must also appreciate the strengths and limitations of each theory, as well as how these theories apply to real-world situations.

A critical appreciation of theories involves questioning the assumptions and biases underlying each theory. Students must develop a critical mindset that challenges existing preconceptions and assumptions. They must ask themselves questions such as “why does this theory work in this particular context, and can it be applied in other situations?” or “what are the limitations of this theory, and how can we overcome them?” By asking these questions, students can develop a deeper understanding of the theories and their applicability in different contexts.

Integrating theory and practice is also crucial in demonstrating intelligent practice in an MBA program. Students must not only learn the theories but also apply them in real-world scenarios. They must use their knowledge and skills to solve practical business problems, make informed decisions, and develop innovative solutions. The integration of theory and practice is what distinguishes an MBA program from other academic programs.

Stipulating areas of excellence and reflecting on areas for development is another critical aspect of demonstrating intelligent practice. Students must identify their strengths and weaknesses and work on improving their performance in a dynamic and competitive environment. By recognizing areas for development, students can develop a growth mindset that fosters continuous learning and improvement.

A systematic understanding and critical appreciation of theories in the MBA toolkit are crucial in challenging existing preconceptions and developing positive and enquiring approaches to management and enterprise. Integrating theory and practice and reflecting on areas for development are also essential in demonstrating intelligent practice in a dynamic and competitive environment. An MBA program provides students with the necessary knowledge and skills to succeed in the business world, and it is up to the students to apply these tools effectively and ethically.

References
Goffee, R. and Jones, G. (2018) ‘The New Leader’, Harvard Business Review, 96(1), pp. 44-51.

Mintzberg, H. (2017) ‘Managing the Myths of Health Care’, Harvard Business Review, 95(5), pp. 24-27.

Porter, M. (2015) ‘The Competitive Advantage of Nations’, Harvard Business Review, 93(3), pp. 73-93.

Schumpeter, J. (2017) ‘The Creative Response in Economic History’, Harvard Business Review, 95(5), pp. 30-33.

Senge, P. (2015) ‘The Fifth Discipline: The Art and Practice of the Learning Organization’, Harvard Business Review Press.

Tushman, M. and O’Reilly, C. (2017) ‘Ambidextrous Organizations: Managing Evolutionary and Revolutionary Change’, California Management Review, 59(1), pp. 5-22.
—–

What am I required to do in this assignment?
Unit task
In this unit you will participate in a competitive business game designed to simulate a realistic management situation.
You will engage in the simulation as part of a group and as team of ‘Directors’, over successive periods you will monitor the performance of your own business and the competition, adjusting your tactical decisions accordingly.
As this is part of your dissertation phase you will need to be able to select and apply models, frameworks and theories from the MBA to the task of running the business. These might include elements from:
• Strategic management
• Strategic Marketing
• Finance
• HRM
• Leadership
(or others that you find applicable and useful)

Assignment Task
You will produce an individual report. Your individual report should be 3,000 (+/- 10%) words in which you will:
1. Discuss how and why specific theories or models were applied in order to make the decisions made by your group in the running of the business. You should use evidence from the simulation (results) to demonstrate the effectiveness of the decision making process; comparison of your own management performance to that recommended in the theory (this is likely to be critical evaluation of the group’s processes, organisation and effectiveness).
2. Produce a critical evaluation of the usefulness of the tools and theories that were applied in running the business. Support this evaluation with academic theory.
3. Produce recommendations focusing on how you and your group could use the tools, models and theories more effectively to obtain better results.

What do I need to do to pass? (Threshold Expectations from UIF)
There are three things you must do to pass:
1. Show adequate independence of thought in evaluating the usefulness of theory in practice applied to a live consultancy project or a simulated task of running a business, monitoring performance and adjusting decisions in the light of the success or failure in a competitive environment

2. Demonstrate adequate appraisal of the complexity of management in the implementation of strategic decisions

3. Research, select and use creatively appropriate business and management theory to manage and complete a project in the context of a new situation

These three expectations are reflected in the marking criteria grid below (see the Marks and Feedback section). All three expectations are embedded in and linked to the various areas of marking but especially the application of theory and analysis sections. The selection of relevant key academic material (theories and frameworks) from the MBA Toolkit to the task set by the simulation is essential.
How do I produce high quality work that merits a good grade?
We will be filling this section in together in class on (date to be arranged with tutor) make sure you have downloaded/printed out the Assignment Brief and bring it to the session with you.

Produce a professional and compelling report that draws on the theories and frameworks from the MBA toolkit to evaluate the performance of your organisation during the business simulation. Assignments attracting the highest marks will be focused, analytical, will include critical analysis that explores in depth the implications of the issues under discussion and this will be supported and evidenced thoroughly by using robust and valid academic material and frameworks from the MBA Toolkit. You must provide a clear introduction that provides a structure for your report and will highlight the main topics and areas for discussion; a main body that includes a critique and analysis of your decision making and strategy during the simulation in relation to your organisation’s performance; conclusions that are clearly derived from this analysis and recommendations that are clear and realistic to the demands of the task and nature of the business.

Presented as a professional report, make sure your submission is discursive, and analytical throughout, use appropriate frameworks to focus the narrative and draw on a good range of quality academic sources – especially up to date academic journals – not spurious web-based sources. You should reference properly throughout your work using the Harvard Referencing style only.

How does this assignment relate to what we are doing in scheduled sessions?
The scheduled sessions begin with an introduction to the business simulation and the role you will play in it, it will also help to get you familiar with the layout and how it operates. Over a three-week period, you and your group will work through the business simulation creating, using and implanting various strategies you have been taught during the MBA course. During the scheduled sessions you will work with your tutor to discuss strategies, theories and academic frameworks that you may use to create a positive outcome for your business. The scheduled sessions will also address the requirements of the assignment.

Organise your work and communicate professionally. Please ensure your submission is all your own work. Do not rely on internet searches. Do not use ‘essay’ sites.

How will my assignment be marked?
Your assignment will be marked according to the threshold expectations and the criteria on the following page.
You can use them to evaluate your own work and consider your grade before you submit.

Pass – 40-49%
Pass – 50-59%
Commendation – 60-69%
Distinction– 70%+
Introduction Adequate identification of the relevant issues and theories that will be used in the report, although no real framing and minimal signposting Some identification of the relevant issues and theories that will be used in the report although not well framed with some signposting
Clear identification of the relevant issues and theories that will be used in the report and a good attempt to frame and highlight the main issues with signposting Provides a clear introduction that identifies the relevant issues and theories that will be used in the report and clear framing that highlights the main issues through excellent signposting
Application of Theory Adequate evidence of attempting to research, select and use creatively appropriate business and management theory from the MBA toolkit in order to complete the project. Demonstrates limited understanding of key issues and concepts and limited evidence of wider research and independent reading that is relevant to the task
Good evidence of attempting to research, select and use creatively appropriate business and management theory from the MBA toolkit in order to complete the project. Demonstrates good understanding of key issues and concepts but with some evidence of wider research and independent reading that is relevant to the task Very good evidence of attempting to research, select and use creatively appropriate business and management theory from the MBA toolkit in order to complete the project. Demonstrates very good understanding of key issues and concepts and includes clear evidence of wider research and independent reading taking place that is relevant to the task Excellent evidence of attempting to research, select and use creatively appropriate business and management theory from the MBA toolkit in order to complete the project. Demonstrates excellent understanding of key issues and concepts and includes clear evidence of substantial research and independent reading taking place that is relevant to the task
Analysis Shows adequate independence of thought in evaluating the usefulness of theory in practice through monitoring performance of the organisation and provides adequate evidence of strategic decision making. Analysis is overly descriptive, uncritical with minimal academic support Shows good independence of thought in evaluating the usefulness of theory in practice through monitoring performance of the organisation and provides good evidence of strategic decision making. Analysis is descriptive in areas and limited but coherent and supported by some academic evidence Shows very good independence of thought in evaluating the usefulness of theory in practice through monitoring performance of the organisation and provides clear evidence of strategic decision making. Includes a critical analysis that is not descriptive and attempts to explore implications of the issues raised and is supported by appropriate academic evidence. Shows excellent independence of thought in evaluating the usefulness of theory in practice through monitoring performance of the organisation and provides clear evidence of strategic decision making. Includes an in-depth critical analysis that explores, in depth, the implications of the issues raised and is supported by appropriate academic evidence throughout the report evidencing clear independent research
Conclusions Conclusions are relevant to the content of the report however their validity is unconvincing Conclusions are relevant to the content of the report however limited and not entirely convincing Conclusions are derived from the critical analysis, are relevant and convincing Conclusions are valid, convincing and clearly derived from the in-depth critical analysis and provide a clear synthesis of the report
Recommendations Recommendations are vague. Doubtful feasibility for the issues at hand with without detail Recommendations are reasonably clear and mostly realistic but lack detail Clear and appropriate recommendations that are realistic and provide some detail Clear and appropriate recommendations that meet precisely the demands of the task and are detailed and specific
Presentation and Referencing Not in report format. Few citations and a passable bibliography and reference list Well-structured in report format, sourced throughout and with an adequate bibliography and reference list Clearly and concisely structured in report format, sourced throughout and with a good bibliography and reference list Clearly and concisely structured in report format, sourced throughout and with a comprehensive bibliography and reference list