bizsim: controlling the market

A Bei Suoni Production

Trademark & Slogan

Name Selection

Roles & Responsibilities

Marketing Strategy

Estimations and Inputs

Quarter Analysis

Business Results

Simulation Assessment

Lessons Learned

Summary

Agenda

Trademark: sforzando• Sophisticated musical term• Sleek and modern look

Motto: “Hearing is believing”• Common expression• Implies a quality product

Trademark and Slogan

sƒz (trademark)

Name Selection

Goals•Recognition•Publicity•Creative

Make our company stand out against the others

Organizational Chart

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.

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

Estimating

Economic Index

Quality Management and Production Price

Cash Flow Analysis

Production and Revenue

Calculating Input

Calculate Revenue and selling Price

Expenses•Quality Management•Advertising•Product Development

Estimate needed Production

• Increase/decrease capacity

Mini-Cases

• A–Creative–Implies characteristics

• B–Minimum Risk–Optimum Gain

• C–Minimize impact–Gain Publicity

Mini-Cases

• D-Avoid Lawsuit

-Bad Publicity

• F-Best with Available Money

• J-Limited Resources

Quarter 1

Summary

Successful with Market Plan

Need for Accurate Forecast

Quarter

Revenue

Profits

Stock Price

Dividends

1 1219 76 34.7 4

Quarter 2Quarter

Revenue

Profits

Stock Price

Dividends

2 1194 53 27.22 7

Summary

Poor product perception

Overdraft loan

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

Quarter 4Quarter

Revenue

Profits

Stock Price

Dividends

4 1392 13 34.25 50

Summary

Increased QM and Ad budget

Lost sales

Max Dividends

Quarter 5Quarter

Revenue

Profits

Stock Price

Dividends

5 1368 -12 25.95 50

Summary

Negative profits

Poor Projections

Overdraft loan

Quarter 6Quarter

Revenue

Profits

Stock Price

Dividends

6 1553 57 24.8 0

Summary

High QM and Ad budget

Higher economic forecast

Profits

Management Score

Market Share

Quality Management

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

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

•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