The Capstone Business Simulation Needs Improvement Essay

1292 Words Nov 21st, 2016 6 Pages
Introduction The Capstone Business Simulation is a useful tool when it comes to experiencing a competitive industry that is not only dynamic and interconnected, but is also affected by the ethical implications of specific strategic business decisions. Two major areas where this sophisticated business simulation needs improvement, however, is 1) in regards to the limitations on decision-making parameters and 2) the “people” aspect of business. The business simulation is unable to find a means of measuring the value of business relationships; with investors, suppliers, customers, retailers etc. As much as the neoclassical economic theory would state otherwise, us humans are driven by our emotions, motivations and self-interests. This is where this report comes into play; if Team Andrews was to operate in the real world, as opposed to a business simulation, there will be plenty of key decisions that would not have been made by the business, and plenty of new alternative solutions to problems that CAPSIM was unable to offer. When in the real world, more emphasis needs to be placed on the interests of key “stakeholders” and the society at large. Understanding Motivation and Social Influence in Stakeholder Prioritization defines stakeholders as individuals who either affect or are affected by a business activity. (Weitzner and Deutsch, 2015). This report will be divided into two major parts. Part one will discuss the following specific CAPSIM results, and major aspects…

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