If you have any questions, comments, concerns, or feedback, click on my name below and Ill respond to you as quickly as I can. Be in it for the long haul Similar to the branded production, try out the different values to see which combination will give you the lowest Average Production Cost value for your plant and hence, the highest profits. Otherwise, their endorsement effect declines. Before you even start plugging in any numbers, it is important that you decide for a strategy to pursue for the game. No spam ever. thank you for your help. Use of my strategy creates a landslide effect that, as you can see, is very devastating to all opponents. Thanks! I am on my second year and I have negative income right now, any tips on how to get in the positive? I now have another question about capacity. Now, decide to which region you want to ship your private-label shoes. Make year 11 EASY on yourself and learn how the game is played. Sure, you can ask anytime Okay! From this highest whole dollar amount, I plug in every possible value around it and find the price that yields the highest net profit. thank you:). Worst case, all the demand is already satisfied in your region before your shoes at a certain price is being considered. I was wondering how much more additional capacity that I should purchase after Ive bought the first 1000 for NA. You basically determine and run the market. honestly i started with 150 models at 6 stars and went to 200 and 7 stars, 8 in private label. Hi Yvonne. This game can be overwhelming, so anything to help other players! Write down each regions reject rates and add them up to the regions estimates sales volume. You have to dissect your competition and forecast their every move. You need your capacity and it is never a good idea to sell your existing capacity. These simulation games can help you develop hard. One option that you definitely want to purchase is Option C. Option C increases your S/Q rating by 1 star. One time, I was able to increase my net profit by lowering TQM / Six Sigma Quality Program to $0.20 and increasing Percentage of Superior Materials to maintain my S/Q Rating. For all following decision rounds, you do not have to return to this page, as I advise you to always keep those two options and not change anything else on this page. By clicking on the Purchase Capacity button, you can see whether someone else did the mistake and sold capacity. I suggest to go for maximum profits. Can you tell us more about the strategy you had ? It might be tedious work and consumes a lot of time, but it will definitely worth it and will let you win the BSG. It typically keeps increasing until a certain price point and then starts to drop. I usually have the highest net profit when setting Enhanced Styling / Features to $50k, TQM / Six Sigma Quality Program at around $0.70, and Best Practices Training at $5,000. Those that are already playing the BSG Online and perhaps want an edge over the competition. Helped me get to the second place! For only $35, get instant access to the Business Strategy Game Guide. Thats a relief. I started with paying $0.05 dividends and increased it by $0.05 every year. Do not sit on it. You will need those numbers later on. The BSG Game went through a major revision in the beginning of 2019. Any thoughts? To be an Industry Champion, you just have to beat your classmates but to be a Business Strategy Game Grand Champion you have to BEAT every single Industry Champion thats won the Business Strategy Game. All the while you get lost on what was really importantto do actuallywin. . Set your price to whatever maximizes your profits. You might agree to disagree in the process but each member should always be given a clear avenue to express their thoughts that are based on their research. update them with tips and food for thought from the paid guide. If you will not be able to get a return on your investment over the remaining period, it might be a good idea to forego the upgrading process. The styling/quality (S/Q) ratio of the business venture in the different geographic locations they operate in. Automated page speed optimizations for fast site performance, Capsim Winning Strategies and Simulation Tips, Leadership and Management Assignment Help. First, click on the Adjust Competitive Intensity button that can be found on the top middle of the page. So I run into problem again! Pay loans faster. It is definitely around 1.2 though and I recommend starting off with this value. as I described in my post, Id go with the low models, maximum profit strategy as it is easy to follow and you determine the market. These games often involve managing resources, making . My stupidness did not know that I should not pay dividends when I am in 5-year-loan, so I did not adjust any part in Finance Cash Flow except for borrowing. Hi, We will now look at all the decisions you have to make to actually play the game and be successful with your strategy. Business Strategy Game Espanol (Spanish BSG Help ), Ayuda En Espanol Para La Simulacion Glo-Bus (Spanish Glo-Bus Help), Business Strategy Game En Franais/French, En Franais Business Strategy Game Assistance (French BSG Help), Business Strategy Game In Het Nederlands/Dutch, In Het Nederlands Business Strategy Game Help (Dutch BSG Help), Business Strategy Game Auf Deutsch/German, Business Strategy Game Auf Deutch Assistenz (German BSG Help). Select +2% for the Percent Change in Competitive Impact of All Other Factors from Previous Year. Looking at the North America column, you now have to plug in your values for Wholesale Price, S/Q Rating, Models Available, etc. Yes, its not too late yet to follow through with my tips. My undergraduate business strategy teacher made us play the BSG-Online simulation for 40% of our grade. I was a poor undergraduate college student, too, at one point, and I understand your unwillingness to pay for an additional book. The market share, which can be increased by: increased advertising, extensive market research, checking out the competition, and most importantly understanding the needs of your customers. Do the same for your E-A and A-P volumes and plug them into the A-P manufacturing slot. You said that the internet price should be 40% above wholesale. If it is lower than 40%, your wholesale price will be in competition with your internet price. Here, you have the opportunity to sell your existing capacity. Learn tips & tricks, from a BSG Grand Master! Good communication skills. Hence, find the combination that gives you the highest profit. Deciding whether to buy an already functioning plant or build one from the ground up will depend on; whether the geographical region you want to set up has a plant you can buy as well as the time that is available for you to set up a new plant. You can only do one upgrade at a time in each region and a total of two updates per region. While your regional sales volume for the internet segment is a good estimate, the estimates for the wholesale segments are not. It is usually best to repurchase stock at the beginning, when your stock prices are relatively low. Entering year 15 I am still doing 8 star but the demand forecast is super low. You do not want that to happen, especially because your internet sales only account for a small percentage of your entire sales. Then, after a lot thought on the matter, I devised an easy method for taking full advantage of currency fluctuations. When you are deciding whether to upgrade your plant capacity, time is an essential factor. The C.I.R on the other hand will give you a deeper look into market share, S/Q ratings as well as price. This is very helpful. Make all the decisions tactfully and base them all on research and not emotion. With the high-quality shoes + low model strategy, the only thing you care about is your PROFIT. Here are some of the best tips for accelerating your business. So regardless of what decision year youre in, how bankrupt you are, or if your company is dead last right now you can SUCCEED in the Business Strategy Game by following my SIMPLE tips, advice, and strategies. It almost worked TOO WELL. After you have calculated your new regional wholesale sales volume, add the regional internet sales volume to it. Obviously, the other teams and their decisions will play the biggest role in how you play the game, but this is a good starting point for how the game works and . You have successfully adjusted to your competitors. This has been very useful. and L.A. volumes and finally plug them into the NA manufacturing slot. While those two values do not change your S/Q rating, they will change your net profits. I highly recommend starting below with my free tips guide. In any Business Strategy Game, including BizMAP, you will not get it 'right' in the first attempt. Hi, youre welcome. my advice would be to read my guide and follow the steps. So, multiply your sales volume for the wholesale segment for each region by 1.2. But I found ZERO helpful information online. Also do you know the cost of building additional capacity. I am so thankful for your post!!!!!!!!!!!! This isthe lazy wayof winning the Business Strategy Game and requires very little knowledge and effort on your part. If your results in the first year are not too good, its not a big deal. Thank you, Fin! Beat the Business Strategy Game. Important: Your Sales volume, not the production volume that includes the rejected pairs! However, do not rely on those values. This also means that players have a limited number of options which creates a glass ceiling and sets the tone for the rest of the game.The first years of a Business Strategy Game is fairly fragile and any major mistakes will leave permanent scars. So where to look at this thing, as soon as you start the BSG Online Game. You will get the hang of it after the first few decision rounds as it is always the same procedure. Could you win the Business Strategy Game against a bunch of 5th graders? but out industry there is a direct competitor for me, he is also star 8 and 50 models, and he prices so low for wholesale, only 47! What should I do in this case? In this package you get TheUltimate BSG Solution Guidealong with theIndustry Champion video. You need this capacity for the private-label market. The fact that you are looking for help mean. Some professors place higher emphasis on the Business Strategy Game than others but the Business Strategy Game is always a hefty part of your grade. Aim to dominate at least a quarter of the market share in every geographical area of your companys operations. at least one of the two teams has an S/Q of 8* and low prices so far (yes, they are in first place for now) what do you think we should do?. Advantage of this is, that you dont have to pay too much attention to your competitors. One week they might increase, the other they might increase by just a little or even decrease. Same with all the other values, like I described in my blog post And then use all your remaining shoes for the private label market. In addition, your Retail Outlets values should always be the highest number possible that you are allowed to enter. Please post any information pertaining to: strategies, tips, final presentations, case studies, quizzes, etc. However, the private-label market is set up the way that only a limited demand is given each year. Here's a free video of things to watch out for while you are running your shoe company and competing in the BSG. In this article, you will explore some of the strategies and tips that should be employed to boost your winning chances. As I keep reading online about different strategies to win, there are some postings that are aligned with the strategy of low quantity of models offered at a high quality and keep increasing capacity. unfortunately I have no experience with adjusting to my strategy in the late-game. You will soon know why. Concerning changing others values, I recommend reading my initial post where I have explained everything in detail. If you demand for branded production is met, put everything else into private label to make sure you dont have unused capacity. There should be a balance. A celebrity endorsing your product offers a big boost to product awareness, helps a brand penetrate new regions thus acquiring new market shares, and can drive up sales. First, set your Number of Models to 50, as determined earlier at the Sales Forecast page. You are now done with your private-label decisions and all significant decisions that affect your net profits. The accumulated knowledge I have over the Business Strategy Game is on an unrivaled scale. Here is a chart again tho show you the process: If your regular production capacity is not sufficient, use overtime. Finished top 3 the first time and we are currently in 2nd place through 5 weeks for our current simulation. My friend and I walk through the simulation on how it works. But do whatever is necessary to maximize your profits. Its not too late to do that yet. So for the last year I didnt stick to the rule that the internet price has to be 40% higher than the wholesale price. However, after 3-4 years, your competitors will settle and changes will be more predictable. I only ever paid attention to my profits and I never ever sold capacity. If youre like most students though, you just want to win the Business Strategy Game, be crowned Industry Champion, get the grade, and move on with your life. While being in every market is a goal of a successful multinational company. Im play a new version of BSG ,we have already completed year 17 and now our team have a problem with struck in the middle stage that cost cant decrease more and this year other company in the industry have a high SQ star and low cost (price war) that we cant fight them because our cost is too high. Grow the stock price of your company's shares by at least 5% between the years 10 and 15. And you said I should only add capacity onto existing ones instead of building a new one in LA right? Complement each other. Based on the kind of approach you will use, you might find it useful to keep some of the costs low. Purchasing capacity is 20% cheaper than building new capacity on your own. This free website and paid guide are a collection of the strategies I have used myself while winning the Business Strategy Invitational multiple times, seen work by my competitors at the highest level of play, and implemented on dozens of teams Ive personally coached. The two most important values you want to have as precisely estimated as possible are the industrys average wholesale price and S/Q rating. On this page, you will set your values for your branded production. This can get confusing at the beginning so here is a table to show you the process. I recommend building additional 1,000 capacity for the North American plant in the first year, if your cash balance allows it. Emerging on top of this simulation can be quite a challenge. After you have plugged in your numbers for both plants and your Branded Pairs Available for Shipment matches your Total Branded Pairs Shipped from each Plant, go ahead, click the Save Decisions button, and move to the Private-Label Operations page. Set Models Offered to 50 and Free Shipping to No. 5. Two of the most important things to do here are analyzing your competition and optimizing your values. More capacity also brings down your costs. To improve the financial standing of the company it is a wise idea to employ the balanced scorecard to determine the strategies that will boost the companys competitiveness. If I have further questions do you mind I ask you for help? Always Have A Backup Plan. This decision page is mainly a waste of money and we will not spend a lot of time with this page. Ship all the other shoes for the Europe-African warehouses and the Asia-Pacific warehouses from the Asian-Pacific plant. Like should I add up all my wholesale prices from the 4 regions and then divide by 4 to get an average wholesale price and multiply by 1.40 to get the internet price or should I base it off the lowest wholesale and then multiply by 1.40 to get the internet price? like should I just follow your tips through all because I kind of get on a bad start. If you have any questions, feel free to come back and ask them. Definitely helps! So, play around and find the best combination for your given S/Q rating that yields the highest net profit. Help, hints, tips, and strategy for The Business Strategy Game (Thompson & Stappenbeck) which will greatly improve your game performance. Written by an Undefeated Business Strategy Game Grand Champion. In this multiplayer business simulation game, Virtonomics players must strategically build their virtual companies to become successful Virtonomics entrepreneurs. I just have a quick question. The knowledge to exasperate competitor weaknesses and curb competitor strengths lies in the strategic knowledge in the model. You can also pay dividends to your shareholders. Max OUTyour production with the high quality shoes at the lowest possible cost. If you are completely new and your projected performance box is not showing yet, you have to click the Save Decisions button on the upper right-hand corner for the projected performance box to appear. Everyone has the same advantage as the team next to them. If you have your AP price set to e.g. Sometimes thats cutting expenses, sometimes thats increasing expenses (even though it might not make sense at first). However, try your best. I would definitely increase your S/Q rating to 8* and lower your models to 50 (this should be the lowest you can go if I remember correctly). Anyhow, recalling that I could find no helpful information about the game when I looked, I decided to put together a manual that would be helpful to future students of the game. Taking up stock offering is a cheaper alternative to loans in case of an expansion, but caution should be practised as this move might lead to a drop in the cost of the EPS. However, some values, such as the Wholesale Price have decreased instead of increased. You will soon know why. At the same time, youll generate significant amounts of income from the hardest market to extract revenues from. Okay. For long term celebrity contracts and endorsement, bid for them in the early stages of the simulation. Leave everything else unchanged. My team and I are going to the second round of decisions, so I think were still on time to switch towards another area in the market. Like I said before, you should be building capacity, yes. Free shipping will most likely not increase your profits. It makes sense; the more ads you run, the more your celebrity endorsement will be seen and the more effective it is. Because with more capacity, you can offer more pairs in private label and dominate the market there. You might think that using green footwear materials or using recycled boxing / packaging is a good decision, especially with the currently ongoing environmental debates. The rule of the game is to compete with the other students' teams to stay ahead to gain a competitive advantage over other teams. Choosing the correct financial approach, among other things, made a huge difference. Apply the following tips to reduce some of the costs. If you reach the last decision round, comment down below and I will give you some hints on how to boost your net profits for the last year and gain some extra points. and A-P plant, focus on your Total Branded Production Needed to Achieve Year XX Sales Forecast section on the lower half of the page. However, it will also decrease your ending cash. However, to be able to do so, you need available capacity. Theres everything explained in detail. So do you mean although we sell exactly same shoes it does not matter even my rivals price is lower than mine so long as i can maximize my profit? But strategy wise I always sticked to my maximum net profit strategy which you can do no matter your competitors strategy. This site uses Akismet to reduce spam. I have encountered two successful strategies so far: medium-quality shoes (S/Q rating of 5-6 stars) paired with high number of models (250-350 models) and high-quality shoes (S/Q rating of 8-10 stars) paired with low number of models (50 models). I would still go for the 50 models and make sure to buy or build capacity so you have enough for your private label. Login Scroll Down Your browser does not support the video tag. Order now. 2. You can do this by paying off your loans at the earliest possible time. Virtonomics. Dont be fooled by Cheap imitation Business Strategy Game guides you might see online. Im playing the new version of the game, and your guide has worked perfectly for the first two years! Like I already said in my previous post, the most important thing is to toggle each and every value and pay close attention to your net profits. This is your new, more precise regional wholesale sales volume. Other teams in your industry wont stand a chance when you unleash the tactics we teach. That being said, when you go with the strategy explained in my post, you will have maximized profits. In the first years, the estimate of the industry average might be a little off the +2%. The guide features my original model that provides explanation on strategic positioning in BSG which was developed specifically to expose competitors strengths weaknesses at a glance. With our strategy in mind, I would recommend addition capacity to already existing plants rather than constructing a plant in a new region. or A-P plant. But if i decrease my model, I dont think I will be competitive enough to compete with him if he stays with his strategy, what do you think? MyNewVideo Guide leaves nothing to the imagination. I'm back with this updated video full of helpful tips so you can tackle the. You are now done with all your decisions for the Corporate Citizenship decision page and should hit the Save Decisions button on the upper right-hand corner. Hi, You need to get confidential,accurate,comprehensive, andreliablyup to dateinformation from a trusted andPROVENBusiness Strategy Game source. construction cost to be financed with debt. If not, I dont see the need to purchase equipment in order to make more shoes until the demand begins to encroach upon my shoe making capacity. Weve solved EVERYTHING for you. Private label will help you dominate your competition. Created Oct 30, 2013 Restricted 753 Members 5 Online Moderators Moderator list hidden. You then want to select 0% as the Portion of the $XX mil. Try out different combinations that keep you at 8* and the highest possible net profit. I feel you. Hi. In the last section of the Plant Capacity / Upgrades decision page, you can construct a new plant in either of the two regions where you do not have a plant yet or you can build additional capacity to your N.A. If it is 0%, that is fine as well, do not worry about it. Business strategy game. The profits of controlling the industry will help you win the business strategy game. Then, just like you did before, plug in different values for your internet price and see, which price yields the highest net profit. Currently, were selling 150 models. The most important advice in advance: it is all about PROFIT. Do not focus too much on Ending Cash, but keep focusing on Net Profit, try to increase that over each years. Yes, I am talking about the www.bsg-online.com for 2023. It makes sense to do the upgrade before adding capacity. Pay attention to the plant upgrade options as well. With increased competition, prices tend to decrease. However, when pricing your shoes, keep in mind to set the price at least $5 below the wholesale price average. Be objective in your approaches from the beginning of the simulation right to the end. You can either take out a 1-year, 5-year, or 10-year bank loan. It's customized for you to run the company in direct competition with other class members. Do I need to change another setting on another page for this to remain positive? During the entire simulation process, it is important to keep tabs on the company intelligence reports (C.I.R) and the company operating report (C.O.R) The C.O.R will give you insights into plant investments, labour statistics as well as data on plant capacity. Again, it is important that you keep in mind to optimize your profits. It will be, trust me. The end result counts. Ive played the Business Strategy Game many times through and have completely dominated my opponents every single round of every single game. I recommend having a pen and piece of paper next to you so you can write down your net profit and compare when plugging in different values. Select from a pool of diverse individuals who will bring in different opinions and perspectives to the team. What is this Currency Made Easy! If you have more cash available, go ahead and spend it for either one of the other options. Dont believe us, just try below. if you have left over inventory, you should either work on your numbers as I described in my post or put the left-over shoes into private-label. Our final score was 99 and the closest team to us scored a 74!Out of a total of 11 teams, 7 of them scored below 40! I did not forget it, but we will take a look at it later. These are some of the tips you can use to win the business strategy game. The FREE BLOGcovers topics like. Yes, I would definitely do plant upgrade option C! Global Top Performers This is also linked to having production facilities in that market to support it. Selecting the members that will form your team is very crucial as you will be working together to ensure the success of your company. This will lead to greater visibility for your company and thus a boost in the image rating. Here, you will plug in your previously calculated regional total sales volume for each region. It was set Pay Dividends $1.00, which turned out 20,000k in total. This means, you decide about the S/Q Rating of your branded pairs produced and your compensation and training for your employees. But the plant page did say not recommend to build the plant so I was hesitating. Same for your superior material. Hi! Wow, you are done! so idk what i may have done LOL, Hello, may I ask my is not that great at the moment and we are onto year 13 which is like 2nd year maybe of the game and i try my best to like follow your tips though not as fully cause I still dont understand much especially the calculation one a bit confusing cause I am bad at that, so far I have 7 s/q rating though I am unsure should I do lower models or not cause I am afraid it might not be enough for profit and all because most I see at average of rating and high models , I was wondering what can I do to make it better? For only $35, get instant access to the Business Strategy Game Guide. The company that offers the lowest price will sell all its supply first, followed by the company with the second lowest price offered, and so on. I worried that another team would have stumbled onto your blog, but few people Google tips it seems! Buy Now with PayPal. Profit is the key to success in this game! I guess because i grew too fast last week, this weeks net profit is negative (I didnt make any adjustment yet). and why do I want it? However, do not price your shoes too high, so that your competitors have a lower price than you and will sell their shoes first. Let me walk you through the various decision pages and explain you how to optimize each entry.
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