Stick in your e-mail address, and the tips guide will be in your inbox instantly. of what decision year youre in, how bankrupt you are, or if your company is dead last right now . Even though this game is said to be a business simulation, get rid of the thought that all decisions have to make sense and be logical. You will get the hang of it after the first few decision rounds as it is always the same procedure. I always went with 500 every second year, but it depends on your market and competitors. Period. As always, do not forget to save your decisions after you are done. However, my net profit is still negative even after i have adjusted the private-label. Hence, it should be your goal to price your shoes lower than everyone else and take their market share so that other companies will not sell any private-label shoe in this region. For long term celebrity contracts and endorsement, bid for them in the early stages of the simulation. Turn delivery time to four weeks because it has no noticeable effect on sales but significantly affects EPS and Net Profit. 5. 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. If you have any questions, comments, concerns, or feedback, click on my name below and Ill respond to you as quickly as I can. I have extra capacity in the LA plant (worst place to ship from to any place outside of LA) which I tried to sell off. If you're like most students though, you just want to win the Business Strategy Game, be crowned Industry Champion, get the grade, and move . As already mentioned earlier, not every decision has to make sense. When I played the game, I barely looked at what my competitors were doing. Again, try out each percentage for each region and set it to the percentage that yields the highest profits. Like I said before, you should be building capacity, yes. Were at the middle of the pack and wanted the best strategy to move up the ranks. This site uses Akismet to reduce spam. What should I do for year 12 and 13? These are the tools you need to win BSG. . The Business Strategy Game is a real world - real life management simulator where students BSG login to learn about essential business concepts like cost focused strategy, broad differentiation strategy, generic strategy, focused differentitation strategy, and low cost strategy. (meaning I decreases it from $1.00 to $0.15). I daily (thank you, Hootsuite, for making it so easy!) In my opinion, I believe the other teams are thinking on exploit the private label. Let us take a look at the Plant Capacity / Upgrades page first. Hi Yvonne. Okay. And he also purchase 4000 capacity in the first year but no advertising expenses. And you said I should only add capacity onto existing ones instead of building a new one in LA right? 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. I never really watched my EPS or credit rating (ofc credit rating should be a B at least). 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. Here, you will decide for how much your shoe is going to sell. The information is these guides is laid out, and displayed, in such a way that crucial decisions should be a breeze. The Models Offered estimate seems pretty fair and you do not have to worry about it. But strategy wise I always sticked to my maximum net profit strategy which you can do no matter your competitors strategy. Is there anyway to increase the demand for my shoes in the internet/wholesale markets? Sorry for the late reply.. Been starting my new job and working a lot lately. Could you win the Business Strategy Game against a bunch of 5th graders? Hence, you will only focus on the two following decisions that are worth their money as they increase your image rating the most. Hi. update them with tips and food for thought from the paid guide. For only $35, get instant access to the Business Strategy Game Guide. In this package you get TheUltimate BSG Solution Guidealong with theIndustry Champion video. If you have any questions, suggestions, or comments feel free to comment and I will do my best to help you out. We offer free, unlimited fast support to answer any questions. Personally, I would do a higher SQ to start things out while you are building capacity to match the low quality-high model approach. If I have cash available after doing all my decisions, I like to alternate between building additional capacity, purchasing plant upgrades, paying off loans and repurchasing stock in the following years. 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? What is this Currency Made Easy! When there is a change in any aspect of operations it should be implemented upon approval of all the members. It makes sense; the more ads you run, the more your celebrity endorsement will be seen and the more effective it is. update them with tips and food for thought from the paid guide. Optimizing your values is the essence of the game, even though it might be very time-consuming. Especially with our high quality and low models strategy, this will be very beneficial and will safe you some money. I will talk about the Celebrity Endorsements page later. If you have more cash available, go ahead and spend it for either one of the other options. Company operations are patterned after I include tons of free information to give you a leg up on your classmates on my blogroll. Business strategy game. PS: I do the 5-year-loan 12,000k in Y11 (7% interest); In year 12, I paid #1 Long-Term (early payment) 12k at 8.2% AND borrow 70,000k 5-year-loan at 4.5%. I wish you the best of luck for your game. It will be very helpful for us and will be very grateful Do you still have your upload reports of all your years ? It covers in detail all of the strategies, concepts, software features and tricks necessary to win the McGraw-Hill Business Strategy Game. 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. As already mentioned, it is important that you ship all your shoes for the North American warehouses and the Latin American warehouses from the North American plant. You basically do the same thing over and over again, for every decision round. I believe it varies based on your games situation. Although the big news for 2020 has obviously turned out to be the effects of the COVID19 coronavirus pandemic outbreak, many business students still have to struggle with the difficulty of playing the Business Strategy Game to get a good grade to graduate. However, some values, such as the Wholesale Price have decreased instead of increased. So I would recommend you to decrease your models to 50 and remain at 8* for most of the time, if not even for all the remaining game. While those two values do not change your S/Q rating, they will change your net profits. The Business strategy game offers a unique hands-on experience for participants grouped in teams, to run a virtual footwear company and go head to head with other competitors to see whose business strategies win. The information is these . Set your price to whatever maximizes your profits. The first time I played, I did exactly what you are doing: researching the internet. This would leave you with a bunch of shoes unsold. I guess because i grew too fast last week, this weeks net profit is negative (I didnt make any adjustment yet). Well some Industry Champions have such an easy time winning because the people theyre going up against simply didnt care about the BSG. Which is better, cost leadership, integration, or differentiation? But this year the shipping is too high from AP to LA so I cannot make any money from LA. You have successfully adjusted to your competitors. With more inventory, however, you can put more shoes into private label which is a really important aspect of the game. Avg. values have changed. Dont be fooled by Cheap imitation Business Strategy Game guides you might see online. These are some of the tips you can use to win the business strategy game. Do not focus too much on Ending Cash, but keep focusing on Net Profit, try to increase that over each years. Im playing the new version of the game, and your guide has worked perfectly for the first two years! Explanation of the Four Main Strategies of Business Strategy Game with their strengths and weaknesses based upon the Strategic Map, Detailed execution processes for each of the decision screens to produce enlightened results which answer questions, Discover how to become efficient in branded production, the best way to market your shoes, and which upgrades are absolutely ESSENTIAL for your given strategy, Three Year Plan rules simplified to attain the highest score your company can achieve, Business Strategy Invitational Insights for those who want to become Business Strategy Game Grand Champions, Academically proven for positively influencing new Business Strategy Game students to overcome the challenges of starting their company off on the right foot. "In terms of scope and comprehensiveness, it has no equal in the world of business . Thank you so much for the good recommendations. However, try your best. These two products combine with empower you to win the BSG with very little effort.These two guides are PACKED with tons of Business Strategy Game tips, hints, strategies, advice, and guidance.There is no other substitute on the internet today that comes close to competing with these two products. If after putting the above measures in place and your image rating lowers, consider increasing the S/Q of the shoes and indulging more in corporate citizenship behaviour. Worst case, all the demand is already satisfied in your region before your shoes at a certain price is being considered. 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. However, with a reasonable price. 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). One option that you definitely want to purchase is Option C. Option C increases your S/Q rating by 1 star. Aim for a higher credit rating of B+ or above. When you found the best combination to produce your shoes at the lowest cost possible while meeting the S/Q rating requirement, move to the Private-Label Bids section. You now need the forecasted Regional Sales Volume for both the Internet Segments and Wholesale Segments in all four regions that you wrote down earlier. I would look at the Margin Over Direct Costs value at the very bottom of the page to see where it is most profitable to ship your shoes to. So having understood what the image rating of a company is based upon, how can you improve it? 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. If you add capacity it will show you the price. Good communication skills. MyNewVideo Guide leaves nothing to the imagination. Hi, To do so, first plug in your N.A. I was a poor undergraduate college student, too, at one point, and I understand your unwillingness to pay for an additional book. Also, I suggest not decreasing your dividends. You can either take out a 1-year, 5-year, or 10-year bank loan. I will just adjust it first and see what happens, thanks a lot:). Id also like to point out that it appears the developers threw out NAFTA in the new version, so tariffs hurt pretty bad in Latin America. 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. Learn More You will also receive a copy of Currency Made Simple. Do not worry about the Plant Capacity / Upgrades page. In addition, you have the option to repurchase your stock. that helped me become Business Strategy Game Grand Champion. In the Private-Label Production field, use all your remaining available capacity, even overtime. For only $35, get instant access to the Business Strategy Game Guide. Yes, I would definitely do plant upgrade option C! Since youre only in the second year, I would honestly decrease your models to 50. A free section gives the casual reader some tips and tricks in class and a paid guide for people who are behind and need to catch up or students who want to save themselves the headache and win. No spam. My question is what if I decreased the pay dividends to $0.15 from $1.00? Those that are already playing the BSG Online and perhaps want an edge over the competition. I was thinking about building a LA plant because I took the majority of private label there last year. Written by an Undefeated Business Strategy Game Grand Champion. When starting the BSG, you have two long-term loans; one for 5 years, the other one for 10 years. I guarantee or your money back (with a 100% success rate so far) you'll win the game with the purchase of the guide. Always Have A Backup Plan. This is because your competitors are adjusting and trying to find their strategy. In Y12, I paid early payment 12,000k at 8.5% and continued borrowing 70,000k at 4.5% for 5-year). Hi! We will now look at all the decisions you have to make to actually play the game and be successful with your strategy. It typically keeps increasing until a certain price point and then starts to drop. The Business Strategy Game is a PC-based exercise, modeled to reflect the real-world character of the globally competitive athletic footwear industry and structured so that you run a company in head-to-head competition against companies run by other class members. Ship all the other shoes for the Europe-African warehouses and the Asia-Pacific warehouses from the Asian-Pacific plant. In the upper right box, you can spend your excessive cash. After you have done this, you repeat the same procedure for Europe-Africa and Asia-Pacific with the A-P plant because it is cheapest to ship shoes from A-P to E-A. Then, you want to plug in your L.A. total sales volume estimate into theproductionslot for North America as well and add up your reject rates. Order now. Learn tips & tricks, from a BSG Grand Master! Let me walk you through the various decision pages and explain you how to optimize each entry. Looking at the North America column, you now have to plug in your values for Wholesale Price, S/Q Rating, Models Available, etc. honestly i started with 150 models at 6 stars and went to 200 and 7 stars, 8 in private label. Important: Your Sales volume, not the production volume that includes the rejected pairs! Free shipping will most likely not increase your profits. Hi, Im glad to hear that it helped! and L.A. volumes and finally plug them into the NA manufacturing slot. If you have your AP price set to e.g. Sounds good, congrats! You are almost done for the Sales Forecast decision page. Even more important is, to stick to it! However, it will also decrease your ending cash. 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. The importance of buying back stock early and how buying back stock gives you an edge in the game. From the desk of: a Business Strategy Game Grand Champion. There are tons of possibilities in the Business Strategy Game, and the wrong strategy in the wrong circumstance willCOST you the game. For the upgrade option C is the one to raise 1 star, but the actual cost it can save me every year is not a lot, should I still do that? It only takes 10-15 minutes to put the numbers in the right spotsto make yourself an Industry leader. Helped me get to the second place! Those are LEARNING REFERENCES written bycommonplace Industry Champions, which teach you how toplay. Yes, I am talking about the www.bsg-online.com for 2023. Strategies, decision screens, reports and tests. So what are some of the qualifications you should be on the lookout for when picking your team? So where to look at this thing, as soon as you start the BSG Online Game. Try and set it to Yes. You will soon know why. At the same time, youll generate significant amounts of income from the hardest market to extract revenues from. Every single member should be given the venue to express their thoughts clearly. That its always wise to start out on the right foot rather than try to pull yourself out of a financial nosedive. I daily (thank you, Hootsuite, for making it so easy!) I am having trouble getting my company back into the positive ending cash after taking out a loan. If for whatever reason you arent satisfied with the guide, return it anytime for a full refund. Weve heard countless horror stories of students not taking the BSG seriously and failing the course as a result. Any advice? The celebrity should also be compatible with the product, for instance, a football player would be ideal for a sports shoe endorsement. 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 that's won the Business Strategy Game. I worried that another team would have stumbled onto your blog, but few people Google tips it seems! Most Industry competitorsarentable to replicate high results when they face tougher opponentsand have asimpleunderstanding of the Business Strategy Game. With our strategy in mind, I would recommend addition capacity to already existing plants rather than constructing a plant in a new region. You can also pay dividends to your shareholders. Make all the decisions tactfully and base them all on research and not emotion. Sometimes thats cutting expenses, sometimes thats increasing expenses (even though it might not make sense at first). With the high-quality shoes + low model strategy, the only thing you care about is your PROFIT. You dont have to care about your retail outlets anymore so adjust the price so maximize your net profit, without the 40% rule. The accumulated knowledge I have over the Business Strategy Game is on an unrivaled scale. Learn how your comment data is processed. It sometimes works. You can decide to sell or purchase available capacity, upgrade your plants, build new plants in other regions, or add capacity to already existing plants. Purchasing capacity is 20% cheaper than building new capacity on your own. Do this for all the four regions. Also, I am concerned about the prices strategy; the group who is in the first place has the plan of highest S/Q rating (7) with 200 models and lowest prices. Yes, I would only add capacity onto existing plants and not build new plants. Buy I have quite a lot ending cash. Its not too bad, no worries. It can be very beneficial for you. More than often they drone on and on about BSG, to the point, its barely relevant toimpress you with abunch of words. You should pay attention that your S/Q Rating of Branded Pairs Produced matches your value on the Sales Forecast page. Displaying corporate citizenship in a responsible and socially acceptable manner for not less than 4 years. With this, they raised the global capacity to 30,000 when the potential global demand (including private label) is only 24,218. Entering year 15 I am still doing 8 star but the demand forecast is super low. Here, you will plug in your previously calculated regional total sales volume for each region. In the first years, the estimate of the industry average might be a little off the +2%. And should I do stock repurchase this year? 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.
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