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BizSim: Controlling the Market
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Transcript of BizSim: Controlling the Market
![Page 1: BizSim: Controlling the Market](https://reader035.fdocuments.us/reader035/viewer/2022070402/568138d3550346895da08cf3/html5/thumbnails/1.jpg)
A Bei Suoni Production
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Trademark & Slogan
Name Selection
Roles & Responsibilities
Marketing Strategy
Estimations and Inputs
Quarter Analysis
Business Results
Simulation Assessment
Lessons Learned
Summary
Agenda
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Trademark: sforzando• Sophisticated musical term• Sleek and modern look
Motto: “Hearing is believing”• Common expression• Implies a quality product
Trademark and Slogan
sƒz (trademark)
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Name Selection
Goals•Recognition•Publicity•Creative
Make our company stand out against the others
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Organizational Chart
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Roles & ResponsibilitiesPosition Name Responsibilities WhyCEO Blake Steers company towards
goals
Natural leader Can make executive
decisions. VP Marketing
Charlie
Controls customer relations,Directs market research
Good at analyzing trends and results.
VP Human Resources
Charlie
Employee organization and job delegationWork analysis,
Good managerial and interpersonal skills
VP Production
Randy Quality managementProduct storage
Experience in production and quality management.
Skilled at controlling production.
VP Finance Randy Management of budgeting, spending, loan management, dividends, and overhead
Excels at bookkeeping Can record and organize
data effectively.
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Utilized the “Chevrolet” method of marketing
•Low production cost
•Mass production and distribution
•Low market value, but high demand
Marketing Strategy
Pros Cons
High market share Cannot be “cutting edge”
Product will always be demanded
Danger of lost sales
Greater profits with higher sales High facility costs
TQM will keep production costs nominal
Large inventory expense
Easier to advertise as “well-rounded”
Primary costs are facility-related
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Estimating
Economic Index
Quality Management and Production Price
Cash Flow Analysis
Production and Revenue
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Calculating Input
Calculate Revenue and selling Price
Expenses•Quality Management•Advertising•Product Development
Estimate needed Production
• Increase/decrease capacity
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Mini-Cases
• A–Creative–Implies characteristics
• B–Minimum Risk–Optimum Gain
• C–Minimize impact–Gain Publicity
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Mini-Cases
• D-Avoid Lawsuit
-Bad Publicity
• F-Best with Available Money
• J-Limited Resources
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Quarter 1
Summary
Successful with Market Plan
Need for Accurate Forecast
Quarter
Revenue
Profits
Stock Price
Dividends
1 1219 76 34.7 4
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Quarter 2Quarter
Revenue
Profits
Stock Price
Dividends
2 1194 53 27.22 7
Summary
Poor product perception
Overdraft loan
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Quarter 3Quarter
Revenue
Profits
Stock Price
Dividends
3 1415 55 22.9 0
Summary
Increased Product Perception
Increased Advertising Budget
Increased plant capacity
Lost Sales
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Quarter 4Quarter
Revenue
Profits
Stock Price
Dividends
4 1392 13 34.25 50
Summary
Increased QM and Ad budget
Lost sales
Max Dividends
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Quarter 5Quarter
Revenue
Profits
Stock Price
Dividends
5 1368 -12 25.95 50
Summary
Negative profits
Poor Projections
Overdraft loan
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Quarter 6Quarter
Revenue
Profits
Stock Price
Dividends
6 1553 57 24.8 0
Summary
High QM and Ad budget
Higher economic forecast
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Profits
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Management Score
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Market Share
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Quality Management
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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
Simulation Assessment
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1.Not every problem can be solved by throwing money at it.
2.Stock holders love dividends
3.Loans can help you, and loans can hurt you
4.Business espionage is illegal for a reason
5.Advertising can make or break a company and/or product
6.Teamwork is key to the success of any business or organization
Lessons Learned
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•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
Summary