business strategy game tips

On this page, you will optimize your entries and toggle each value until your reach the maximum profit possible for each entry. Members of the team should have skills and strengths that serve to complement each other for a perfect working synergy. Be careful: Sometimes, especially for advertising, numbers that are way off (for example $100 and $8,000) can yield about the same net profit with only a little difference. I daily (thank you, Hootsuite, for making it so easy!) The rule of the game is to compete with the other students' teams to stay ahead to gain a competitive advantage over other teams. 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). Always Have A Backup Plan. like should I just follow your tips through all because I kind of get on a bad start. However, try your best. How important is image? If this is still not enough, add the missing shoes to the other plants Branded Pairs to be Manufactured in Year XX number. Do you have any suggestions? If you find capacity available for purchase, I would always directly purchase it. But it is definitely worth it. For further explanation, please read my blog post. It almost worked TOO WELL. So I doubt on his strategy. 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. The celebrity endorsement will work well only if it is boosted by aggressive advertising. While being in every market is a goal of a successful multinational company. 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 . The information is these . Hello, thanks for the great strategy, it is working (1st place) ! Thank you, Fin! I daily (thank you, Hootsuite, for making it so easy!) Most Industry competitorsarentable to replicate high results when they face tougher opponentsand have asimpleunderstanding of the Business Strategy Game. It typically keeps increasing until a certain price point and then starts to drop. If I have further questions do you mind I ask you for help? You almost can never have enough capacity because what you dont sell in branded, you can sell in private label and dumb prices there and take away your competitors market share. Im playing the new version of the game, and your guide has worked perfectly for the first two 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. Theres not right amount of capacity you should purchase. Over the course of many years, I have seen a plethora of situations, companies with a BILLION dollars in debt, people making strategic mistakes that willruinthem in the LATE GAME. I just have a quick question. And he also purchase 4000 capacity in the first year but no advertising expenses. What should I do in this case? Furthermore, I spent all my cash on hand for dividends and stock repurchase to increase my ROE and EPS as much as possible. This is very helpful. The closer your actual numbers are to your estimates, the more likely it will be that you earn bonus points from the Bulls Eye Award (be within a 5% range of the estimates). Sounds good, congrats! Do not worry about those numbers, they will just show you whether your investment is profitable or not. Company operations are patterned after Even more important is, to stick to it! What is this Currency Made Easy! Thanks a lot! However, it will also decrease your ending cash. If you add capacity it will show you the price. But this year I have a lot of cash on hand, I upgraded my plant, should I also build the LA plant although I dont need that much capacity at the moment? Here, you will determine the Percentage of Superior Materials, Number of Models, Enhanced Styling / Features, TQM / Six Sigma Quality Program, Change in Annual Base Wages, Incentive Pay, and Best Practices Training. It sometimes works. 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. Everyone has the same advantage as the team next to them. I put $1.00 pay dividends, which turned out 20,000k in total. Try out different combinations that keep you at 8* and the highest possible net profit. 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. Every game in the Business Strategy Game starts out the same. However, keep in mind that your regional endorsement value should not be higher than 400 in any region. What should I do for year 12 and 13? Play the game multiple times and try to refine your strategies and entrepreneurial skills with each attempt. You dont have to care about your retail outlets anymore so adjust the price so maximize your net profit, without the 40% rule. Do not focus too much on Ending Cash, but keep focusing on Net Profit, try to increase that over each years. This has been very useful. Is there a strategy that will always win? You will have secret access to private areas of the site and get to ask questions with my personal expert replies. Help, hints, tips, and strategy for The Business Strategy Game (Thompson & Stappenbeck) which will greatly improve your game performance. Period. You then want to select 0% as the Portion of the $XX mil. Business strategy games are a type of computer or board game that simulates the decision-making processes involved in running a business. No spam ever. They have all changed by +2%, just as you plugged it in. And then I would just follow my tips and adjust all other values to maximize profits. This would leave you with a bunch of shoes unsold. Percentage of Superior Materials, Number of Models, Enhanced Styling / Features, TQM / Six Sigma Quality Program, and Best Practices Training all affect the S/Q Rating. How and when to buy celebrity endorsements at the BSG-Online. The demand depends on your retails, price and quality. I want to thank you for visiting my Business Strategy Game (BSG Online) website. Free shipping will most likely not increase your profits. For only $35, get instant access to the Business Strategy Game Guide. 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. 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. In my opinion, I believe the other teams are thinking on exploit the private label. With increased competition, prices tend to decrease. Here, you will decide for how much your shoe is going to sell. Before you even start plugging in any numbers, it is important that you decide for a strategy to pursue for the game. How Much Capacity Should My Company Have? Those that are already playing the BSG Online and are going bankrupt and/or are dead last. This manual provides actual numbers to use as guidelines, has many examples from real games, and should make your life so much easier than mine was! Like I said before, you should be building capacity, yes. I am in Y12, and I am adjusting for Y13. I would like to ask you about the Dividends. This is because your competitors are adjusting and trying to find their strategy. Hi Fin, Thanks for the detail post and the screen shots. I hope that helps and good luck! 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 always, do not forget to save your decisions after you are done. You should slightly increase your dividends year by year. 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%. If you have any questions, feel free to come back and ask them. Hi Yvonne. The BSG tends to underestimate those values by about 20% and hence, you need to correct them for a more precise estimate. This will enable you to tap into the different unique abilities of each of the members thus strengthening your team. Be cautious though: Do not only look at the percentage change in net profits, but also at the total value as the total value might change sometimes but the percentage change remains the same. This is your new, more precise regional wholesale sales volume. 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. Thanks! Aim to dominate at least a quarter of the market share in every geographical area of your companys operations. Learn tips & tricks, from a BSG Grand Master! One week they might increase, the other they might increase by just a little or even decrease. When you sign up for BSG Tips, youre not alone. I cannot make any money there. 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? If you have any questions, suggestions, or comments feel free to comment and I will do my best to help you out. Every single member should be given the venue to express their thoughts clearly. you can SUCCEED in the Business Strategy Game by following my SIMPLE tips, advice, and strategies. Theres everything explained in detail. You might have the highest profits with 0 advertising budget. If you bid on multiple celebrities, it is good to set a ranking priority and a spending cap so that you do not spend more money than you want or have available. Thats the highest achievement you can attain. Select +2% for the Percent Change in Competitive Impact of All Other Factors from Previous Year. You cannot afford to followsimple techniques and fail! I have placed this manual and an easy-to-use currency spreadsheet on this site for you. Here are a few things to give you confidence in us: Our guide & coaching took every customer to 1st or 2nd place utilizing the guide. You need this capacity for the private-label market. Here, you will plug in your previously calculated regional total sales volume for each region. im at year 17 and perfect score twice, 1st in last 3 years and 2nd twice. 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? and L.A. volumes and finally plug them into the NA manufacturing slot. Those that havent played the BSG Online yet and are researching online for every advantage they can find. Hence, make sure to plug in every possible value to reach the highest net profit possible. 7 Winning Tips and Strategies for the Business Strategy Game (Bsg) 2022-10-12. Business strategy game Rating: 7,4/10 916 reviews. You can ignore the Internet Marketing and Wholesale Marketing pages because they will just reflect your internet and wholesale decisions that you already plugged in on the previous pages. Virtonomics. However, with a reasonable price. On this page, you will set your values for your branded production. 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. There is a huge difference of learningHow To Winand learning the basics of the game. This is probably the most important decision entry page in the game and you will be spending most of your time here. In this video we go over these five Business Strategy Game Tips: Price elasticity and why most athletic footwear companies don't understand how it is really computed. I dont know why the game suddenly changed your numbers but I recommend using every last bit of your capacity. Increase models? Most of the decisions you can make here are a waste of money and will not benefit your company. Again, trying out different combinations and optimizing net profits is key for these values. Let me walk you through the various decision pages and explain you how to optimize each entry. I would like to ask about the Pay Dividends. My stupidness did not know that I should not pay dividends while Im in LOAN mode. Play with your numbers around and tweak them to generate maximum net profit. The two most important values you want to have as precisely estimated as possible are the industrys average wholesale price and S/Q rating. But the plant page did say not recommend to build the plant so I was hesitating. I shut them down fast and knocked them out of the running. At the lower half of the page, you also determine how many branded pairs you want to manufacture in each region you have a plant. 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. Beating the Business Strategy Game About the Guide. 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. Well some Industry Champions have such an easy time winning because the people theyre going up against simply didnt care about the BSG. I am in a box where every move I make to lower cost or shift production lowers my EPS or credit rating. 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? It will be very helpful for us and will be very grateful Do you still have your upload reports of all your years ? Everything else like earnings per share (EPS), return on equity (REO), and image rating (IR) will automatically follow. This is why building additional capacity is so important. Unused capacity kills your numbers and profits! Please delete one if there is an extra comment. The private-label market is a very nice opportunity to gain an advantage off your competitors and take their market share. The second part is the free site resources. If it is 0%, that is fine as well, do not worry about it. Chances are it would be a piece of cake right? I was wondering how much more additional capacity that I should purchase after Ive bought the first 1000 for NA. Yes, I would definitely do plant upgrade option C! I was a poor undergraduate college student, too, at one point, and I understand your unwillingness to pay for an additional book. Definitely helps! Let me know if you have any more questions. However, my net profit is still negative even after i have adjusted the private-label. Make sure the celebrity is suitable in the geographical region you want them to endorse your shoes. It is not. The best part is that, after it is in place for 3 or more rounds of play, the effects become almost irreversible. The BSG Ultimate Solution isTHE ONLYGUARANTEEDone-way ticket to winning the BSG. We offer free, unlimited fast support to answer any questions. Order today and you will beprivyto every secret, technique, tip, support, and help I can provide you with thatwill surely secure your SUCCESS and VICTORYas a Business Strategy Game Player. I never really watched my EPS or credit rating (ofc credit rating should be a B at least). These are the tools you need to win BSG. In any Business Strategy Game, including BizMAP, you will not get it 'right' in the first attempt. my advice would be to read my guide and follow the steps. 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. 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. 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. This Reddit is dedicated to help undergraduate and graduate students excel at the McGraw-Hill Business Strategy Game or BSG-Online. Other teams in your industry wont stand a chance when you unleash the tactics we teach. If you see little action on the celebrity market, go ahead and get your celebrities for the lowest price possible ($500). If you really need money, I would rather advise you to issue some of your stock. You always want to make sure that you produce your sales volume for N.A. I would still go for the 50 models and make sure to buy or build capacity so you have enough for your private label. Yeah I had that in the first weeks as well. And you can basically never have enough capacity for private label. However, do not price your shoes too high, so that your competitors have a lower price than you and will sell their shoes first. It makes sense to do the upgrade before adding capacity. Complement each other. congrats on your success! 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 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. Hi. 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. Select from a pool of diverse individuals who will bring in different opinions and perspectives to the team. Using this as a base strategy has yielded good results in my experiences. If youd like an overview of the content we publish, take a look here, and if youre interested in Glo-bus, start here. If this scares you, it should. One option that you definitely want to purchase is Option C. Option C increases your S/Q rating by 1 star. In Y12, I paid early payment 12,000k at 8.5% and continued borrowing 70,000k at 4.5% for 5-year). Ive played the Business Strategy Game many times through and have completely dominated my opponents every single round of every single game. After you have calculated your new regional wholesale sales volume, add the regional internet sales volume to it. honestly i started with 150 models at 6 stars and went to 200 and 7 stars, 8 in private label. 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. Learn More I did not forget it, but we will take a look at it later. You want to setEthics Training / Enforcement to All Employees and Workforce Diversity Program to Yes. To do so, first plug in your N.A. I would then adjust the Percentage of Superior Materials to whatever is needed to match my S/Q Rating with the value plugged in on the Sales Forecast page. I mainly looked at what they were doing in the private label sector. This means, you have a channel conflict, meaning that your Retail Outlets number will decrease in the next year and less retailers are willing to sell your shoes. If your results in the first year are not too good, its not a big deal. And Im so thankful for your post!!!!!!!! And profit is what the game is all about. Be in it for the long haul 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? Here's a free video of things to watch out for while you are running your shoe company and competing in the BSG. Market share is not crucial for your success in the BSG, but profit is. This is extremely easy and if thats all you want, then grab The Ultimate BSG Solution right now and guarantee your success. However, you can successfully apply most of the following tips to either strategy. 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. BSGTips.com is a proven guide (written by a Business Strategy Game Grand Champion) on how to win, not just how to play. Develop a fictional startup in a choice of industries, playing in modes including entrepreneur, business war or Virtonomics tycoon. Skip the fancy words so many other guides drone on about BSG, andget down to real execution of business strategy. Global Top Performers In addition, the company resembles an athletic footwear company with plant operations instead of outsourcing . Here are some of the best tips for accelerating your business. That combined will give you a good boost for the last year. total sales volume estimate into the Branded Pairs to be Manufactured in Year XXslot for North America, write down your reject rate and add it to your previous total N.A. Download Magic Year 11 Secrets Revealed NOW. Two of the most important things to do here are analyzing your competition and optimizing your values. This will save you money in the long run and at the same time boost your credit rating positively. Important: Your Sales volume, not the production volume that includes the rejected pairs! Aim for a higher credit rating of B+ or above. However, it will also decrease your ending cash. A window should pop up where you can select each of the four regions and change the industry average S/Q rating and competitive impact. I would always encourage you to bid on available celebrities. Do I need to change another setting on another page for this to remain positive? For only $35, get instant access to the Business Strategy Game Guide. $50.66 but $50.67 gives you higher profits, go for the higher prices. To be a Business Strategy Game Grand Champion, you have to firmly understand every nitty-gritty little detail within the Business Strategy Game Manual. construction cost to be financed with debt. It is usually best to repurchase stock at the beginning, when your stock prices are relatively low. So, should I decrease pay dividends here to $0.15? So the question is: would you recommend for my team to still increase capacity despite this fact? When starting the BSG, you have two long-term loans; one for 5 years, the other one for 10 years. I dont understand why it did this as this capacity was unused and there was upside to having it as my production was max out for the demand. Dont blindly waste recourses on a celebrity tag; be strategic to make sure you will get the return on investment. I am a Business Strategy Game Grand Champion. Which wholesale are you referring to? Apply the following tips to reduce some of the costs. Can you tell us more about the strategy you had ? This is my personal procedure that has led me to become Grand Champion and nothing on the web can compare to my precision perspective of BSG. My group and I are also playing the new version of the game and were little bit lost. Let us move on to the tricky part of this decision page. The information is these guides is laid out, and displayed, in such a way that crucial decisions should be a breeze. Displaying corporate citizenship in a responsible and socially acceptable manner for not less than 4 years. At the end, I increased dividends to boost my ROE. Again, it is important that you keep in mind to optimize your profits. It will give you some immediate tips you can implement to start off on the right foot or begin turning things around. Created Oct 30, 2013 Restricted 753 Members 5 Online Moderators Moderator list hidden. AcquireThe Edgethat separates aGrand Championfrom an Industry Champion. Magic Year 11 Secrets Revealedgives you exclusive access to a tried, tested and provenlegitimatebase method for stuffing approximately $50,000 Net Profit in your first year. 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. I am getting my butt kicked! 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. However, after 3-4 years, your competitors will settle and changes will be more predictable. So, multiply your sales volume for the wholesale segment for each region by 1.2. In this blog post, I will run you through everything important that you have to know about the BSG and how to win it. Dont let them beat you to it or you simply wont stand achance. As a Business Strategy Game Grand Champion, I have been responsible for burying many Industry Champion competitors and I have to say, its not hard. Sorry for the late reply.. Been starting my new job and working a lot lately. With the high-quality shoes + low model strategy, the only thing you care about is your PROFIT. that helped me become Business Strategy Game Grand Champion. While those two values do not change your S/Q rating, they will change your net profits. Your estimate of the industry average for the internet retail price does not change with your adjusted competitive that you set to +2% before. we are having a horrible time of having left over inventory .. we are in year 13 and our numbers are ok we were 1st place last on year 11 and second place on year 12 but i having a feeling we have been focusing so much on our current numbers we arent going to end well any advise on what we should do on inventory and other sections of the game. You are now all set to dominate your industry and win the BSG! Because with more capacity, you can offer more pairs in private label and dominate the market there. Does it hurt any other factors? Ive turned dead-last severely bankrupt companies into Industry Champions with just two years left in the game.

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