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BizSim: Controlling the Market

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  1. BizSim: Controlling the Market A Bei Suoni Production

  2. Agenda • Trademark & Slogan • Name Selection • Roles & Responsibilities • Marketing Strategy • Estimations and Inputs • Quarter Analysis • Business Results • Simulation Assessment • Lessons Learned • Summary

  3. Trademark and Slogan • Trademark: sforzando • Sophisticated musical term • Sleek and modern look Motto: “Hearing is believing” • Common expression • Implies a quality product sƒz (trademark)

  4. Name Selection Goals • Recognition • Publicity • Creative Make our company stand out against the others

  5. Organizational Chart

  6. Roles & Responsibilities

  7. Marketing Strategy Utilized the “Chevrolet” method of marketing • Low production cost • Mass production and distribution • Low market value, but high demand

  8. Estimating Economic Index Quality Management and Production Price Cash Flow Analysis Production and Revenue

  9. Calculating Input Calculate Revenue and selling Price Expenses • Quality Management • Advertising • Product Development Estimate needed Production • Increase/decrease capacity

  10. Mini-Cases • A • Creative • Implies characteristics • B • Minimum Risk • Optimum Gain • C • Minimize impact • Gain Publicity

  11. Mini-Cases • D -Avoid Lawsuit -Bad Publicity • F -Best with Available Money • J -Limited Resources

  12. Quarter 1 Summary Successful with Market Plan Need for Accurate Forecast

  13. Quarter 2 Summary Poor product perception Overdraft loan

  14. Quarter 3 Summary Increased Product Perception Increased Advertising Budget Increased plant capacity Lost Sales

  15. Quarter 4 Summary Increased QM and Ad budget Lost sales Max Dividends

  16. Quarter 5 Summary Negative profits Poor Projections Overdraft loan

  17. Quarter 6 Summary High QM and Ad budget Higher economic forecast

  18. Profits

  19. Management Score

  20. Market Share

  21. Quality Management

  22. Simulation Assessment • Overall positive experience • Learned many business terms • User-friendly and easy to understand • Got to know the members of our team • Enjoyed competing, even though we did not win • Very fun to watch our business grow and expand

  23. Lessons Learned • Not every problem can be solved by throwing money at it. • Stock holders love dividends • Loans can help you, and loans can hurt you • Business espionage is illegal for a reason • Advertising can make or break a company and/or product • Teamwork is key to the success of any business or organization

  24. Summary • We had underestimated what it takes to run a business • New understanding of how our teamwork and decisions will impact our outcomes • Learned that mistakes happen, and recovery is the key determinant of success/failure • Enjoyed learning the ins and outs of business and methods • Did not come in first, but we still enjoyed participating in the simulation