Main body Essay - Introduction This essay will analyse my...

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Introduction This essay will analyse my personal development in the subject BU2006 Business Modelling by reflecting on my thoughts, problem solving skills, teamwork, software skills development and my personal strengths and weaknesses. Essentially how I started out, what I was taught and how I ended up. Fundamentally explain how my problem solving skills have been improved and take an in depth look at my strengths and weakness. Problem solving In my opinion BU2006 was all about problems solving. In each piece of assessment, we were given a task which had a problem, issue or question that required solving. In assignment one we had to use the excel scenario manager to determine if it was feasible for Central state to allow gambling in the state. During assignment one I learnt that to answer this one question required building an entire business model looking at a wide range of issues that would affect the answer to this one question. Originally when I started this subject I knew that when making a business decision various figures and formulas are analysed to determine feasibility but I had no idea just how many different aspects/issues are taken into account just for a simple question like whether Central will make money from introducing gambling. After reading Batson & Read I also learned that creating a business model isn’t just about the data it contains and the methods employed in analysing the data but rather a best practice model is: easy to use, so you can be more productive in using the model for analysis - rather than struggling just to produce simple results from a badly designed model; focussed on the important issues, so you do not waste your time in unnecessary development;
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easy to understand, by using a transparent design you can readily understand the effects that characterise the business problem – and understand them better than your competitors; and reliable, so that your model becomes the accepted tool for calculating results - increasing your influence in negotiations (Read and Batson, 1999) Throughout the semester we applied the six stages in the modelling life cycle when working on cases; scope, specification, design, build, test and use. In my opinion this turned me from an amateur working in spreadsheet to someone following a proven structured method. Scope this stage is where we assess the nature, scale and complexity of the model required. During the scope stage you should: decide what needs to be included in the model and what can be omitted; consider the level of detail required in the input and logical assumptions; understand in outline how the model will work; estimate the time and resource required for the model development; and agree the above with the key stakeholders Specify this stage defines the logic of the model in sufficient detail to provide an unambiguous statement of how the results will be calculated. I learnt that this stage includes inputs, calculations and the results. Design
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This note was uploaded on 01/17/2012 for the course BUSINESS BU2005 taught by Professor Smith during the Three '10 term at Bond College.

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Main body Essay - Introduction This essay will analyse my...

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