Business Deicison Making

Discussion of the strategies and plans developed by the team, including the role performed by you the student in the team.
Our task was to set up a business using the SimVenture software and make our own scenario, creating a business plan in advance and ensuring we would set strategies and make decisions as we go. We produced a business plan to set out the understanding of the business and to ensure the project ran smoothly however considering the start of the business plan now, certain aspects could have been thought out better before hand, however with only two members of the group been present for the first couple of sessions, we wanted to get the business up and running as soon as possible and to use the money and available resources wisely. Our group consisted of four group members, Michael Charles, Emily Dallara, Shuna Bryan and myself. We had four roles in the group and each picked an individual topic we thought was most relevant to us, taking into consideration work types and interests. I was in charge of the Finance, Michael was in charge of the Organisation, Shauna was in charge of the Operations and Emily was in charge of Marketing. As I was in charge of the finance this included, looking at all the finance and money for the business. Although we had individual roles the plan was to discuss all plans as a group before making any decisions.

Due to work commitments, unfortunately Emily could not commit to the group at the assigned time, this resulting in Emily leaving the group, which left three group members to cover the four topics. However Shauna missed a number of sessions leaving Michael and myself to prepare and set up the business as much as we possibly could. As there were only myself and Michael at the start of the project we planned to equally share the responsibility and make decisions on all the four areas of the business. I believe if we had a larger group we could have discussed and evaluated our decisions more effectively and efficiently