BUSINESS DECISION MAKING

Business Decision Making

Business Decision Making

Strategies and Plans Developed by the Team

With reference to SimVenture team exercise, managers must be able to maintain a living environment in the organization to all team members for learning. Make sure that managers are working with the team, determine the needs of team members and improve its efficiency. Are there any relevant training programs in your organization? How can you make sure that the current system supports the training of team members? In addition, benefits and rewards should be offered to the employees especially if you are working in a hotel as the employees would want rewards for their hard work cleaning up after others.

In particular relation to SimVenture team exercise, this is very important for a hotel staff because they need meetings to keep up to date with what's going on, so I would tell the employees if they are living up to his standards or are falling short. While few employees relish meetings, they serve as a vital function in terms of information sharing and decision making (Rich, 2007, 12-43).

Follow up on action items, I would follow up on what you told your employees at the Hotel and make sure they know what you have told them and will act on it. After the meeting the employees will have several action items. In addition, it is likely that they will need to follow up on the action items of others.

Impact of the Decisions and Success of the Business

In context of SimVenture team exercise, today's competitive business world managers and employees are expected to work efficiently on their own initiative to achieve goals and excel the business they work for. But how much difference can one individual make on their own? For this assignment I explored the benefits of teams and team work within an organization. I looked at the factors that separate effective teams from other work groups as well as how strong teams should be managed to maintain high levels of success, progression and employee morale (Weygandt, 2009, 37-59).

Evaluation of Business Strategy

In relation to SimVenture team exercise, a group of people can form without a goal, just with similar interests or cultural backgrounds. If you had a room of students you could group them by faculty, age, gender or any other defining demographics. Their effectiveness and ability to work together and achieve a common goal may not be as strong as desired because you aren't looking at what each individual can bring to the table in terms of expertise or skills when selecting the group members (Gilligan, 2008, 8-27).

A group however can turn into a team if a common goal is established and the members work with each other to achieve it. If you look at Tuckman's model that identifies the five stages of group development a group doesn't turn into a team until the fourth step where the members have will create structure and cohesiveness to work successfully together (Pol, 2004, ...