Strategic Asset Management

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Introduction

In this document, I have critically analyzed my experience during workshop 1 and 2. I have linked my personal experiences with asset management frameworks, literatures, examples and theories.

Fishbank simulation

Fishbank is one of the famous multiplayer online simulation game in which end users play fisher’s role. It has developed by John Streman and Dennis Meadows. In this game, the players compete against other fishers to maximize their net worth. With the use of Fishbanks simulation, they can sell, buy and build ships. Along with this, they are able to negotiate with each other while playing this game. In this simulation, policy option has been included for instructors which provides information about auctions of new boats, quotas and permits. The main reason behind development of Fishbank simulation is to provide experimental learning experience to participants.

The Fishbank simulation game has been currently played by graduate students, undergraduate students and managers in a variety of fields. By attending Fishbank simulation workshop, I have learned the working of complex marine systems. During this workshop, I got a chance to apply classroom theory in real world with irreversible consequences, time pressure and messy complexity. I observed that I can enhance my decision making skills by playing a Fishbank simulation game. While attending the workshop related to Fishbank simulations, I came to know that marine business organizations can calculate their annual financial indicators and results successfully by using this game. I got an idea about the competition takes place between marine business organizations.

Fishbank simulation provides a real word environment for fishers where natural resources are considered as the major income sources It works on both Windows and Macintosh platforms. Actually, Fishbank simulation is based on the system dynamics computer model.  

Benefits of FIshbanks Simulation Game

1. The fishers (players) can plan their fishing activities and annual operations by allocating their resources accurately with the use of Fishbank simulations.
2. By using this web-based simulation, I can enhance my decision making and strategic thinking skills.
3. I came to know about effective ways through which fishing boats can be managed.
4. Along with this, I liked the strategy which can be used to make decisions about the location of fish in the sea such as coastal waters, the deep sea etc. This workshop is highly beneficial for all students as they thoroughly learned about the life of fishers in detailed manner.
5. By using Fishbank simulation game, players can analyze annual profits and total profits of the company in the form of statistical representation. This workshop has positive impact on decision making skills as, now I can develop a strategy for beating my competitors and maximizing profits.

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