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Trends for your company’s revenue vs. profit over time.

You are in rounds 7 and 8. You should complete at last round 7 of simulation 9941501 before starting this discussion board. In the midst of everything, it is important to realize that one of the main goals is for your company to have a profit. You have heard before that profit is important to companies, but have you ever stopped to think about what impacts it? It may not be what you think.

Go to your Performance Review of the simulation and review the following:

Your company score and rank for net profit after round 7.
Trends for your company’s revenue vs. profit over time.
Revenue-wise how do you compare to your competitors?
Do you notice correlations around Profit and Revenue and ethics scores?
Go to the Finance section of the simulation and discuss the following:

Look at your income statement (aka P&L) and note trends in net profit or losses over time. What do you notice?
Review the profit chart. How does revenue compare with costs, expenses and net profit over time? What do you notice?
Review the video “
Boost your bottom line with simple math profitability (Links to an external site.) (Links to an external site.) (Links to an external site.)
”. Think about how you can eliminate that “-1” from your business in future simulation rounds. Don’t reveal your strategy, but be prepared to write about this in your final reflections paper in week 7.

Go to the Management screen and adjust the Ethics slider and note what happens to the operating costs under the cumulative budget What do you notice as you increase and decrease the setting? Why might this be important? Watch the video titled “
Creating Ethical Cultures in Business (Links to an external site.) (Links to an external site.) (Links to an external site.)

Minimize Video
”. How do you think situational influence might explain what you see as you move the ethics slider up and down in the simulation? Viewing the ethics slider can be done by clicking the second button on the bottom of the cell phone interface.

As you reply to other students, be prepared to share ideas you have about creating an ethical culture in business while dealing with situational influence that may result from positive (or negative) business performance. Also, share any other thoughts you have about how financial KPIs can aid in ethical decision-making and what can be learned from finance that is hard to learn any other way.

Remember, you will be competing against other students. Be mindful of the advice you share in discussion boards that will talk about your strategies and what you plan on doing.

Resources:

GoVenture CEO Learning Guide
Strategy Journal (accessed within the simulation)
Whatif Calculator (accessed within the simulation)
Market Overview Report (accessed within the simulation)
Performance Report (accessed within the simulation)
Consulting Report (accessed within the simulation)
Financial Reports (accessed within the simulation)
Market Share and Size Report (accessed within the simulation)
Whatever reports you decide to purchase (accessed within the simulation)

Comments from Customer
Review the video “
Boost your bottom line with simple math profitability (https://www.youtube.com/watch?v=_mglyRI99eQ)

Creating Ethical Cultures in Business (https://www.youtube.com/watch?v=wzicXbnmllc)

The software is goventureceo simulation.

Sample Solution

xperience— An initial demonstration was followed by a student performing the examination. One student interviewed the patient for a detailed medical history and other student performed a focused physical examination under my supervision. Rest of cohort were observing the examination. Reflection—History taking and examination were discussed and students received a verbal feedback on their approach to examine abdomen. Students then observed a demonstration of abdominal examination by me, while the rest observed and reflected on their performances. Theory—copy of my power point presentation were handed out to the students(appendix2). Kolb (1971) had introduced four distinct learning styles of learners in a given learner population. Kolb referred to these as diverging, assimilating, converging and accommodating. Figure 4, illustrates the learning abilities of Kolb’s four-part model in relation to the learning process associated with this SGT session. Fig 4 Kolb’s Model Sir William Osler’s dictum that “it is a safe rule to have no teaching without a patient for a text, and the best teaching is that taught by the patient himself” appears very true for this teaching session. Simulation based teaching Medical simulation has been increasingly used in Medical education over the past decade. It aims to imitate real patients, anatomical regions and clinical tasks to mirror the real life circumstances allowing trainee to practice their skills in a risk-free environment (Scalese. R,2007 ). There is a significant departure from traditional “See one do one “approach to simulation based training in recent years. Simulation has already been used in training as flight stimulator for pilots /astronauts and in warfare games, and now these models are used in medical education like critical care, anesthesia and emergency care. With continuing changes in health care has led to decrease availability of real patients as the learning opportunity & simulation fills this gap very effectively. One of the major advantage of simulation based learning is the ability to tailor the teaching needs, according to learner’s experience level and its reliability and transfera
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