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Instructions of BUS 400 4-2 Harvard Business Review Simulation
Overview
As the business in the simulation goes through various generations, it is faced with various external and internal factors that affect its business model in different ways. You may have also made decisions that affected the company’s business strategy including its value proposition, customer segments, revenue models, and other factors. In this journal, you will reflect on these factors and decisions and discuss how the business model changed across generations, and then determine the feasibility of these changes by running them through the BMC framework.
Prompt
In your journal, reflect on the different BMC segments, such as value propositions, channels, customer relationships, customer segments, revenue streams, key resources, activities, partnerships, and cost structure, and how they affected the decisions made in the simulation and consequently the company’s growth and direction.
In this journal, select two BMC segments to use in answering the following questions:
BMC segment changes: How have the selected BMC segments changed over the various generations?
The effect of decisions: How have your decisions affected the BMC segments?
Explore your decisions: How did you come to your decisions?
Assess your decisions: Do you believe you made the right decisions in the simulation? Why or why not?
What to Submit
Submit your journal as a 1- to 2-page Word document using 12-point Times New Roman, one-inch margins, and double spacing. Sources should be cited according to APA style.
Step-By-Step Guide 4-2 JOURNAL
Introduction to BUS 400 4-2 Journal
I will provide brief and descriptive guidelines to solve the BUS 400 4-2 Harvard Business Review Simulation and Journal post and a dummy solution for each section. This Owlisdom How-To Guide will equip you with guidelines to tackle all the queries related to the 1-1 harvard business simulation. Let us begin with the guide.
Introduction
For the BUS 400 4-2 Harvard Business Review Simulation and Journal, we will discuss the reflective journal’s purpose in analysing the business model changes across different generations in the simulation.
- Recognise the importance of reflecting on the impact of decisions on various segments of the Business Model Canvas (BMC).
- Clarify the objectives of the reflective journal assignment.
- Highlight the significance of analysing the evolution of the business model and the influence of decisions on BMC segments.
Example
In our reflective journal, we aim to understand how decisions shape the evolution of the business model across different generations in the simulation. By analysing the impact of decisions on various segments of the Business Model Canvas (BMC), we gain insights into strategic decision-making and its influence on business direction (Gomez Segura et al., 2020). This assignment allows us to clarify objectives, emphasising the importance of critical reflection and analysis. Ultimately, we aim to highlight the significance of evaluating the business model’s evolution and the role of decisions in shaping its trajectory, fostering a deeper understanding of business strategy and management principles.
How have the selected BMC segments changed over the various generations?
Reflecting on BMC Segments
In this section of BUS 400 4-2 Harvard Business Review Simulation and Journal, we will familiarise ourselves with the nine segments of the BMC, including value propositions, customer segments, revenue streams, etc.
- Consider how each BMC segment may have been affected by external and internal factors and decisions made during the simulation.
- Review the characteristics and significance of each BMC segment.
- Analyse the impact of external and internal factors on each segment across different generations in the simulation.
Example
To analyse changes in the selected BMC segments over different generations, we must first familiarise ourselves with each segment’s characteristics and significance. By considering external and internal factors, as well as decisions made during the simulation, we can understand how these factors influence the evolution of each BMC segment. This analysis allows us to identify trends and patterns in how value propositions, customer segments, revenue streams, and other segments have been affected across various generations. Through careful examination, we gain valuable insights into the dynamic nature of the business model and the factors driving its evolution.
How have your decisions affected the BMC segments?
Selecting BMC Segments
For this section of BUS 400 4-2 Harvard Business Review Simulation and Journal, we will choose two BMC segments to focus on when answering the reflective journal questions.
- Consider selecting BMC segments that were particularly influential or underwent significant changes throughout the simulation.
- Evaluate which BMC segments are most relevant to the decisions and changes observed in the simulation.
- Ensure that the selected BMC segments provide sufficient depth for analysis and reflection.
Example
In addressing how decisions have affected the BMC segments, we must carefully select two segments that have undergone significant changes or have been particularly influential throughout the simulation. By evaluating the relevance of each segment to the decisions and changes observed, we can ensure a focused and insightful analysis (Di Vaio et al., 2022). It is crucial to choose BMC segments that offer sufficient depth for thorough reflection and analysis, allowing us to gain deeper insights into the impact of our decisions on the business model’s evolution. This strategic approach enhances the depth and relevance of our reflective journal responses.
Do you believe you made the right decisions in the simulation? Why or why not?
Answering Reflective Journal Questions
This section of BUS 400 4-2 Harvard Business Review Simulation and Journal addresses the reflective journal questions regarding changes in the selected BMC segments, the effect of decisions, the decision-making process, and the assessment of decisions.
- Provide thoughtful insights and analysis supported by evidence from the simulation.
- Clearly outline how the selected BMC segments changed over different generations in the simulation.
- Discuss the impact of decisions on these BMC segments, providing specific examples and evidence.
- Reflect on the decision-making process, considering factors such as research, analysis, and strategic objectives.
- Assess the effectiveness of decisions made during the simulation, providing reasons and justifications for your evaluation.
Example
Reflecting on the simulation, I believe I made several decisions that positively influenced the selected BMC segments (Arif et al., 2020). For instance, I identified emerging market trends in the customer segments segment and adjusted our target audience accordingly, resulting in increased customer engagement and satisfaction. Additionally, I implemented innovative pricing strategies in the revenue streams segment that boosted profitability and diversified our income sources. However, some decisions faced challenges, such as partnerships and cost structures, which required further refinement to optimise effectiveness (Cuypers et al., 2021). My decision-making process involved thorough research, analysis of market dynamics, and alignment with strategic objectives. While some decisions yielded favourable outcomes, others presented learning opportunities for future iterations. Through this reflective process, I have gained valuable insights into the complexities of business strategy and the importance of adaptive decision-making.
Closing
By following these guidelines of BUS 400 4-2 Harvard Business Review Simulation and Journal, you can effectively analyse and reflect on the changes in the business model across generations in the simulation, as well as the impact of decisions on various BMC segments. This reflective process enhances understanding and critical thinking skills, contributing to a deeper comprehension of business strategy and decision-making.
In the next module of BUS-400, we will explore the 5-1 Discussion on DEI and CSR initiatives.
References
Arif, M., Schoots, I. G., Castillo Tovar, J., Bangma, C. H., Krestin, G. P., Roobol, M. J., Niessen, W., & Veenland, J. F. (2020). Clinically significant prostate cancer detection and segmentation in low-risk patients using a convolutional neural network on multi-parametric MRI. European Radiology, 30, 6582–6592.
Cuypers, I. R., Hennart, J.-F., Silverman, B. S., & Ertug, G. (2021). Transaction cost theory: Past progress, current challenges, and suggestions for the future. Academy of Management Annals, 15(1), 111–150.
Di Vaio, A., Hassan, R., & Alavoine, C. (2022). Data intelligence and analytics: A bibliometric analysis of human–Artificial intelligence in public sector decision-making effectiveness. Technological Forecasting and Social Change, 174, 121201.
Gomez Segura, M., Oleghe, O., & Salonitis, K. (2020). Analysis of lean manufacturing strategy using system dynamics modelling of a business model. International Journal of Lean Six Sigma, 11(5), 849–877.
