Priceline vs
Assignment 6. Lessons Learned and to be learned
Submitted To: Professor Paul Stewart
Submitted By: Rehan Mirza
Date: March 25, 2013
Background:
Managing Total Technology was the first simulation course I have ever enrolled for. From the very beginning of the course, I knew that it will a very interesting course and indeed, I find it to be a successful, memorable and exciting way of education.
Part 1:
Honestly speaking I took the simulation very easy in the beginning. But as we move in to week 3, I started to realize that we really need to imply ourselves if we need to do better in the simulation.
There are several key learnings that I take from this simulation course, such as; 1. Fundamental Knowledge:
First of all, I would say, to do a business or to make a decision, one should seek knowledge regarding that business or position. One should do homework before thinking about playing any role in the business scenario. Seeking fundamental knowledge is the first step.
2. Do not Limit yourself:
It is pivotal to know your business environment well and remember, business understanding it is not limited to the area you are responsible for. One should know the overall strategy of the company and the circumstances in which the company is working. The manager, regardless of his/her role in the company should be aware of the challenges company is currently facing in achieving its goals and objectives.
3. Be a Guru:
When you are responsible for making decision in one of the area of the company, it is of utmost important that you acquire all the technical and non-technical expertise in that area. Ideally, nobody should be more aware than you in that particular field so that you can make the decision confidently and that people respect your decision and don’t challenge it without knowing the depth of it.
4. Competitve Intelligence is Key
Always make well informed decisions. Look for the weaknesses of the competition. Consistently track
Submitted To: Professor Paul Stewart
Submitted By: Rehan Mirza
Date: March 25, 2013
Background:
Managing Total Technology was the first simulation course I have ever enrolled for. From the very beginning of the course, I knew that it will a very interesting course and indeed, I find it to be a successful, memorable and exciting way of education.
Part 1:
Honestly speaking I took the simulation very easy in the beginning. But as we move in to week 3, I started to realize that we really need to imply ourselves if we need to do better in the simulation.
There are several key learnings that I take from this simulation course, such as; 1. Fundamental Knowledge:
First of all, I would say, to do a business or to make a decision, one should seek knowledge regarding that business or position. One should do homework before thinking about playing any role in the business scenario. Seeking fundamental knowledge is the first step.
2. Do not Limit yourself:
It is pivotal to know your business environment well and remember, business understanding it is not limited to the area you are responsible for. One should know the overall strategy of the company and the circumstances in which the company is working. The manager, regardless of his/her role in the company should be aware of the challenges company is currently facing in achieving its goals and objectives.
3. Be a Guru:
When you are responsible for making decision in one of the area of the company, it is of utmost important that you acquire all the technical and non-technical expertise in that area. Ideally, nobody should be more aware than you in that particular field so that you can make the decision confidently and that people respect your decision and don’t challenge it without knowing the depth of it.
4. Competitve Intelligence is Key
Always make well informed decisions. Look for the weaknesses of the competition. Consistently track