last question_Essay

last question_Essay - As we look back on the simulation...

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As we look back on the simulation, there are a number of small decisions we would have changed to increase the overall performance of Baldwin; that of course is the beauty of hindsight. However, in the real world no one has the privilege of hindsight until after something has occurred (hence the definition, hindsight) and usually that something can never be changed. Seeing as how this principle of hindsight is intransigent in meaning, dwelling over these small minute decisions won’t be of benefit to the future progress of Baldwin. We did, however, learn from our past mistakes and have created a set of three broad strategic principles that would have not only helped in terms of past performance, but if implemented will be beneficial to Baldwin’s future performance as well. Follow through with the delegation of roles and responsibilities: Although we are conducting a business simulation, the key word we should concentrate on is “business”. As in any business, employees are delegated certain roles and responsibilities. Companies have CEOs and CFO and COO just to name a few. Each of these individuals is responsible for performing a particular function of the organization. Not only does this help to establish accountability throughout the firm, but also goes toward creating economies of scale within the firm so that multiple people aren’t focusing their attention all on the same task. When people specialize within a particular function of the firm, they are able to produce better and more useful information than if their attention is divided amongst multiple functions.
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