Course: Business Lab 3 credits: 3

Course code
IBVP15LAB3C
Name
Business Lab 3
Study year
2022-2023
ECTS credits
3
Language
English
Coordinator
J. Wang
Modes of delivery
  • Tutorial
Assessments
  • Assignment - Other assessment

Learning outcomes

For a manufacturing company, through group work in a simulation game, the student has the basic knowledge and skills to: 

  • analyze complex dynamic international supply chain environments and apply Logistics and Supply Chain theory in order to make well justified supply chain decisions in line with the company’s strategic goals 
  • analyze complex management reports and use this information to monitor and control the financial health of the company 

For successful completion of this module can apply the following knowledge which was gathered in the previous periods: 

  • analyze the cost structure and calculate total product costs per unit 
  • conduct cost/ benefit analyses 
  • assess foreign exchange rate risk and bad debt risk 
  • analyze the cash flow situation of a company, determine cash needs for the future and develop appropriate cash management 
  • analyze a complex set of domestic and international environments and make appropriate marketing mix decisions, taking into consideration the company’s overall strategy, the competitors and environmental factors in each market.  
  • assess the potential of markets and make appropriate market entry decisions 
  • assess the number of sales and production staff required to meet marketing and production needs and to make decisions in the areas of recruitment, training and dismissal 
  • the ability to develop a strategic direction and goals for their company and align ecision making to achieve strategic goals. 

During the simulation game the student is expected to: 

  • have self-awareness of his own norms, values and behaviour and shows 
  • tact and understanding for others 
  • respectfully listen to what other group member are contributing 
  • use proper professional (business) language 
  • initiate co-operation with others, to ask for input of team members and to exchange information/knowledge and ideas with them 
  • actively contribute to the group’s decision making process by elaborating on the input of others  

At the end of the simulation each group of students is expected to deliver a 15-20 minute presentation in which they critically analyze the group performance and decision-making, suggesting and supporting improvements that could have been made.   

Competencies from the Framework Competencies IBMS 

TWM18-2, TWM22-2, TWM21-2, TMW20-2, WT1-2, WT2-2, WW7-1, LW9-2, WT2.2-2, LW1.2-2, LW1.4-2 

Content

Students will participate in a Supply Chain focused simulation game in which several groups compete within several domestic and international markets. During this simulation groups are expected to make decisions of increasing levels of difficulty and complexity as the game progresses. The simulation requires students to make internationally focused decisions in the areas of Supply Chain Management, HRM, Finance and Marketing. By the end of the game students should understand the complex interrelationship between the principal areas of business in a dynamic, uncertain and internationally oriented environment and understand the benefits and issues related to group work, the necessity for delegation of tasks and efficient communication. 

Included in programme(s)

School(s)

  • International Business School
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