Simulation: Strategy and Sustainability

Reflection Paper – Simulation: Strategy and Sustainability
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Understanding the importance of balancing profits with sustainability. It allows for a holistic approach to business and ensures that a business can run for a more extended period by balancing between revenue creation and resource maintenance. Accordingly, this reflection paper will focus on the simulation made using the ILS World platform. This includes its relationship to the SEER Model, such as incorporating the macro- and micro-values in decision making. All in all, it is my belief that understanding the long-term implications of any business decision should be given significant consideration, whether in simulation or real-life applications.
The Market Simulation
One of the main takeaways that I had from the ILS World simulation is the importance of first looking for one's market and the appropriate product for their needs. In the market simulation, this was done by having various information about customers' needs, the price they are willing to pay, and the specific market potential present during those instances. In real-life applications, these are also some of the essential information that each manager should have for it aims to bridge the disconnect between market potential and profits, which in turn defines what may be considered "quality product/service." However, as I went through the market simulations, I realized that quality product/service is more than the marketability, profitability, or market potential of what the organization is trying to sell. Instead, similar to what was indicated in the SEER Model, it also includes organi...