It depends on how much private label you sell and whether you want and can sell more depending on the market, whether its satisfied or not. I promise you my techniques and tips are fully replicable and have kept me theundefeatedall theseYears! It didnt matter how competitive they were, how motivated they were, or whether they were Industry Champions. of what decision year youre in, how bankrupt you are, or if your company is dead last right now . My question is what if I decreased the pay dividends to $0.15 from $1.00? you should repurchase stock whenever you can. After you have calculated your new regional wholesale sales volume, add the regional internet sales volume to it. Learn how your comment data is processed. To boost earnings per share (E.P.S) you can use the cash at hand to retire and repurchase any outstanding shares. No spam ever. Hello, Also do you know the cost of building additional capacity. In the first years, the estimate of the industry average might be a little off the +2%. I was thinking about building a LA plant because I took the majority of private label there last year. This is where consumers get the best quality of footwear at the lowest possible price, therefore ensuring value for their money. Any thoughts? To be a Business Strategy Game Grand Champion, you have to firmly understand every nitty-gritty little detail within the Business Strategy Game Manual. Make all the decisions tactfully and base them all on research and not emotion. This has been very useful. This will enable you to tap into the different unique abilities of each of the members thus strengthening your team. Instantly Jump Your Business Strategy Game Score 10 Points for FREE! Definitely helps! It is not. Make year 11 EASY on yourself and learn how the game is played. Strategy and Execution is your shield and sword for Conquering the Industry. Try and set it to Yes. I include tons of free information to give you a leg up on your classmates on my blogroll. Leave everything else unchanged. After you have found the right price, click the Save Decisions button. From the desk of: a Business Strategy Game Grand Champion. After you have done this for both the N.A. In conclusion, while the BSG simulation requires tact and strategy, employing the above tips will help you get a better sense of how the game works and incorporating them into your strategies will boost your overall performance. 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. Yes, I would only add capacity onto existing plants and not build new plants. Profit is the key to success in this game! At the end, I increased dividends to boost my ROE. The importance of buying back stock early and how buying back stock gives you an edge in the game. 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. 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. Be objective in your approaches from the beginning of the simulation right to the end. Right now I am doing the second year decision, Im doing star 8 and 100 models, did 7 stars and 100 models in first round and the result was not very good. im at year 17 and perfect score twice, 1st in last 3 years and 2nd twice. 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. Before you even start plugging in any numbers, it is important that you decide for a strategy to pursue for the game. Paying dividends will increase your stock price and your ROE. It is all about trying out all possible combinations. Dont blindly waste recourses on a celebrity tag; be strategic to make sure you will get the return on investment. Those that havent played the BSG Online yet and are researching online for every advantage they can find. My guide follows the rule highest net profit is key to success. Five years ago, I was sitting in a similar situation as you. If you have any questions, feel free to come back and ask them. Were at the middle of the pack and wanted the best strategy to move up the ranks. AcquireThe Edgethat separates aGrand Championfrom an Industry Champion. honestly i started with 150 models at 6 stars and went to 200 and 7 stars, 8 in private label. Because with more capacity, you can offer more pairs in private label and dominate the market there. While +2% might now always be spot on, I have made the best experience with it so far. Business simulation games allow you to experience certain aspects of running a business in a completely virtual, consequence-free environment. Hence, find the combination that gives you the highest profit. 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?. You will also receive a copy of Currency Made Simple. How important is image? Thanks a lot! Yes, its not too late yet to follow through with my tips. If numbers do not add up correctly and your total pairs shipped do not match your total pairs available, go back to the Branded Distribution page and adjust your numbers accordingly. However, do not rely on those values. It will be, trust me. As always, do not forget to save your decisions after you are done. Contact the Grand Championand Learn more about the BSG. It has two components. When starting the BSG, you have two long-term loans; one for 5 years, the other one for 10 years. Global Top Performers Everything else like earnings per share (EPS), return on equity (REO), and image rating (IR) will automatically follow. you can SUCCEED in the Business Strategy Game by following my SIMPLE tips, advice, and strategies. Do not worry about me skipping the Internet Marketing, Wholesale Marketing, and Celebrity Endorsements pages. Once you have enough capacity then switch to low SQ approach. This will save you money in the long run and at the same time boost your credit rating positively. However, it will also decrease your ending cash. Yes, I am talking about the www.bsg-online.com for 2023. In addition, your Retail Outlets values should always be the highest number possible that you are allowed to enter. Ive played the Business Strategy Game many times through and have completely dominated my opponents every single round of every single game. Otherwise you will not sell any shoe either. The strategy utilized is broad and will allow your company to decide in what direction you want to take your company after to win Business Strategy Game. You will get the hang of it after the first few decision rounds as it is always the same procedure. If you tweak those numbers, your demand will adjust accordingly. 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. The business level strategy used can be replicated by anyone and is so brain-dead simple that you are destined to win if you apply these techniques. The celebrity endorsement will work well only if it is boosted by aggressive advertising. Go ahead and try out which combination yields the highest profits. Try out each and every value and note down the highest net profit values. If you add capacity it will show you the price. I now have another question about capacity. Thats a relief. This is why building additional capacity is so important. The guide also features step by step instructions in how to manage decision screens in making the best decision. However, you can successfully apply most of the following tips to either strategy. After you are done, move on the left side and do the same for your internet sales. Optimizing your values is the essence of the game, even though it might be very time-consuming. Important: Your Sales volume, not the production volume that includes the rejected pairs! When you are deciding whether to upgrade your plant capacity, time is an essential factor. I include tons of free information to give you a leg up on your classmates on my blogroll. When there is a change in any aspect of operations it should be implemented upon approval of all the members. Emerging on top of this simulation can be quite a challenge. In this multiplayer business simulation game, Virtonomics players must strategically build their virtual companies to become successful Virtonomics entrepreneurs. So I have plant in NA, EA and AP, but right now I am only using 70% of the capacity because the demand is quite small for me. I prioritize building additional capacity and purchasing plant upgrades. These are some of the tips you can use to win the business strategy game. 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. By employing the best cost strategy. 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. As already mentioned earlier, not every decision has to make sense. This will lead to greater visibility for your company and thus a boost in the image rating. Do I need to change another setting on another page for this to remain positive? Exactly. Furthermore, I spent all my cash on hand for dividends and stock repurchase to increase my ROE and EPS as much as possible. The second part is the free site resources. Here, you will plug in your previously calculated regional total sales volume for each region. 39K views 1 year ago #businessstrategygame Here is my ultimate guide to help you ace 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. We got our act together and began to study the game. 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? However, you can successfully apply most of the following tips to either strategy. Choosing the correct financial approach, among other things, made a huge difference. The BSG Game went through a major revision in the beginning of 2019. As a company wants to be in every market, it will be important to . I guarantee or your money back (with a 100% success rate so far) you'll win the game with the purchase of the guide. If this is still not enough, add the missing shoes to the other plants Branded Pairs to be Manufactured in Year XX number. However, it is not necessary and Option C is definitely more effective. And he also purchase 4000 capacity in the first year but no advertising expenses. Looking at the North America column, you now have to plug in your values for Wholesale Price, S/Q Rating, Models Available, etc. The value that yields the highest profit value is the one you want to go with for this decision round. 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. MyNewVideo Guide leaves nothing to the imagination. It took me years to learn this and it would take you years as well but,I know you dont have years. Here's a free video of things to watch out for while you are running your shoe company and competing in the BSG. Two decision rounds later, I was ranking 3rd in the world. With this, they raised the global capacity to 30,000 when the potential global demand (including private label) is only 24,218. And it is pretty difficult for other teams to see what you are doing to them before it is too late. We offer free, unlimited fast support to answer any questions. I have placed this manual and an easy-to-use currency spreadsheet on this site for you. Those that are already playing the BSG Online and are going bankrupt and/or are dead last. I recommend building additional 1,000 capacity for the North American plant in the first year, if your cash balance allows it. 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 adjusted a little bit and the forecast is now close to previous years. Those that are already playing the BSG Online and perhaps want an edge over the competition. Yeah I will hold on to that for now. While you already have a good estimate of how many shoes you are going to sell in each region, you still need to consider your rejected pairs during production. Let me ask you this. I personally would not bid higher than $5,000 $6,000. The knowledge to exasperate competitor weaknesses and curb competitor strengths lies in the strategic knowledge in the model. Members of the team should have skills and strengths that serve to complement each other for a perfect working synergy. The information is these . 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. Hence, try to keep your internet price at least 40% higher than your wholesale price. I would still go for the 50 models and make sure to buy or build capacity so you have enough for your private label. There should be a balance. If for whatever reason you arent satisfied with the guide, return it anytime for a full refund. However, my net profit is still negative even after i have adjusted the private-label. In this section, you can upgrade your plants. You dont have to care about your retail outlets anymore so adjust the price so maximize your net profit, without the 40% rule. 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. In this package you get TheUltimate BSG Solution Guidealong with theIndustry Champion video. 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. So when looking for advice on how to win business simulation games, the first one you should give them is to take the time to learn the effects of marketing, R&D, logistics and finance on one another and leave thinking in silos behind. Period. I am getting my butt kicked! Do this for all the four regions. My friend and I walk through the simulation on how it works. I am a Business Strategy Game Grand Champion. like should I just follow your tips through all because I kind of get on a bad start. Strategies, decision screens, reports and tests. Thank you, Fin! 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. This can get confusing at the beginning so here is a table to show you the process. At the same time, youll generate significant amounts of income from the hardest market to extract revenues from. I usually go ahead and plug in whole dollar amounts for the wholesale price and see how net profit changes. In this blog post, I will run you through everything important that you have to know about the BSG and how to win it. And you said I should only add capacity onto existing ones instead of building a new one in LA right? (0 for both stock issues and stock repurchase). Hi! Im not talking about theory and how to play; Im talking about a proven system that helped me become Business Strategy Game Grand Champion. You have to dissect your competition and forecast their every move. Players must make decisions to build brand loyalty by improving . thank you:). So your costs will be relatively low as well and the private label will be a very important factor of yours. If you found your highest value for the best net profit, move on to the next value and do the same. One week they might increase, the other they might increase by just a little or even decrease. Promise I wont have tons of question haha. I daily (thank you, Hootsuite, for making it so easy!) If you have your AP price set to e.g. Hi Yvonne. However, you should keep on thing in mind: Your internet price should ideally be 40% higher than your wholesale 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? Let me walk you through the various decision pages and explain you how to optimize each entry. 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. . So far I have only build a 1000 EA plant and additional 500 NA plant. Its not too bad, no worries. It is definitely around 1.2 though and I recommend starting off with this value. Paying off these loans in advance has the advantage that you will pay less interest over the coming years. Two of the most important things to do here are analyzing your competition and optimizing your values. gorilla on your side. All you have to do now, is writing down your forecasted Regional Sales Volume for both the Internet Segments and Wholesale Segments in all four regions. How and when to buy celebrity endorsements at the BSG-Online. As I played the game, I discovered that I could use some fairly simple math to massively increase my game score. If your results in the first year are not too good, its not a big deal. Repurchasing stock will boost both your EPS and ROE. You can do this by paying off your loans at the earliest possible time. Select from a pool of diverse individuals who will bring in different opinions and perspectives to the team. 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. After you have successfully plugged in your branded pairs that need to be manufactured for both plants, click the Save Decisions button and move on to the Branded Distribution page. Automated page speed optimizations for fast site performance, Capsim Winning Strategies and Simulation Tips, Leadership and Management Assignment Help. Every game in the Business Strategy Game starts out the same. 7 Winning Tips and Strategies for the Business Strategy Game (Bsg) 2022-10-12. Business strategy game Rating: 7,4/10 916 reviews. In addition, you have the option to repurchase your stock. Hence, keep track of the industrys internet price and how it changes. . Understanding all these reports will help you stay ahead of your competition as well as come up with the strategies that will enable you to perform better in the simulation. Order now. You can still ship pairs from LA to somewhere else if needed. Do not worry about the Plant Capacity / Upgrades page. Okay! And I would not build another plant, rather increase capacity in the plants that you already built. You cannot afford to followsimple techniques and fail! Please delete one if there is an extra comment. unfortunately I have no experience with adjusting to my strategy in the late-game. This is also linked to having production facilities in that market to support it. Setting up a successful business requires time, money, a lot of hard work . or A-P plant. Hi. When doing so, you have to plug in numbers for the assumptions section in the new window. Those are LEARNING REFERENCES written bycommonplace Industry Champions, which teach you how toplay. Thanks for your strategy! I like to have around $8-10 million ending cash available after all my decisions are made. Hi there! Hey!! In addition, the company resembles an athletic footwear company with plant operations instead of outsourcing . This can be a very tricky decision and you need to analyze your competitors prices. Embedded in the magic numbers is a reinforced long-term money-saving strategy that will save you money every year forever!