Marketplace Live Business Simulations On Real Life Business And Marketing Environments

McGraw-Hill Education has designed a series of learning games specifically targeting students to improve their experience in a virtual like work scenario. One of them namely Practice Operations would be discussed in this essay. Practice is a sequences of games which are planned to incorporate immersive learning encounters and rich evaluation capacities. In this practice operations simulation, there are 6 modules. To begin with, first module namely The Production Process, I have learned how to prioritise decisions based on the client requirements. I aced how to organize the production tasks as per the client’s necessities, how to manufacture and ship products based on the deadline and also by maintaining the maximum production percentage in the production process. The Second module which is called managing suppliers includes ordering for raw materials like for instance cotton, denim and silk. It helped me understand how to optimize our order based on the factors like quality and lead time. The third module is known as forecasting and contracts, which showed the significance of the understanding the idea of forecasting the demand of the up-coming seasons. This module entirely was based on the procurement process. In this module, you will decide on which contracts to pursue, and enhance their receiving, production, and shipment departments likewise. Therefore,

The purpose of this paper is assessing my strategy and decisions in the simulation Biz Café. Then, I will give my results and explain how I got there. However, there were many factors involved creating these results. In this simulation, everything was left up to me to decide how to run my new coffee shop. There were big decisions at the beginning you had to make to create the overall theme of your business. Then, I was to hire employees, buy goods, and act on specials decisions or react to good or bad customer reactions. This, I will explain more in the following paragraphs.

Taking part in the Biz Café simulation has been one of the most motivating, enjoyable and enriching learning

Marketplace Business Simulator is an on-line marketing simulation that incorporates all the marketing principles I have learned over the course of this semester and apply them into real world marketing practice. Simulation was used for the sake of instigating effective results and in that regard, this paper analyses the manner in which each quarter was carried through. The circumstances surrounding each of the decisions made are analyzed intricately and hence a manifestation of the impact of each for each of the quarters is laid bare.

Since the whole PC platform is so varied, I can only give an opinion and insight onto a small part of it. To do this, I will detail my own system in order to explain how the platform can be customised. Some of the parts were bought over 4 years ago, so prices have varied a lot.

As Krames describes, even though the intent was not to revolutionize, the mass customization and the providing competitive price to customer by eliminating the middleman, changed the landscape of computer business. Consumers, for

The release of the next-generation gaming consoles has left the gaming industry is in frenzy. With so much demand for the consoles it feels as though people are ready to give away their legs to get either the PlayStation 4 or the X-Box One. With two of these monstrous gaming devices available, the decision to just choose just one console seems to be, for some, a life and death decision. Many people, as a result of not conducting the proper research, fail to realize how easy of a decision this is. In this much anticipated console race, the PlayStation 4 has a clear advantage over the X-box One and as a result, it is the console that consumers should look to buy.

The product chosen for the decline in consumer appeal is "a personal computer" (PC). This product is chosen because its sales and revenues are overall decreasing in the US market. Consumers are losing interest in using PC, due to obsolesce. PC is a technological product in which innovation and advance technology play an important role. New products are coming in the market with latest technological

Initially, our firm’s business position was at a healthy position. In the beginning of the simulation, our overall market share for the automobile industry was 28.2%; the highest in the market. We realized that our primary strength from product contribution came from our economy car Alec with 63.5% market share for economy cars, and from our utility car, awesome with a 48.5% market share for its vehicle class. Thus, it was evident what we needed to do; maintain high market share of our leading cars while conforming our least profitable vehicle class sustainably to coordinate to customer demand.

With time, the PC continued to evolve and newer models offered better speed, color screens, more memory and larger hard drives. Further technical evolution continued to deliver higher speeds, larger storage capacity both internal and external. In addition to the hardware progression, the PC world continued to see progress with operating system solutions and advanced software catering to both large and small businesses as well as the home owner.

Three new computers offering to customers including wholesale and retail prices. These three brands were selected according to their design, connectivity, performance, price and help and support. The ratings were compared and the top 3 leading brands were chosen.

In the marketplace business fundamentals simulation, I was asked to create a company that sells computers with specified components in which a certain target market requested. I created a company named MEGA Intel Computers and my target market was the Workhorse and Mercedes segments. During the first quarter, I was required to decide on corporate responsibilities, review market research, design two brands (MEGA One and MEGA Two), establish corporate and strategic goals, and open a sales office, as well as build a plant for manufacturing. During this quarter I focused on keeping expenses minimal but resourceful since manufacturing was just beginning.

Over the course of being in college, there were multiple opportunities to be involved with business simulation games. Business simulation games are a great way to take all that has been learned and apply it to the simulations decisions. The processes involved really give someone the ability to understand how each decision impacts the companies overall performance as a whole, and then access the companies performance. It is also very surprising how the knowledge that has been taught over the course of college is applied, but not directly put to pen and paper, but merely a mental function that is not thought of until after the simulation ends. Another vital piece to the business simulation is how managerial skills are developed overtime. To better

The large capital requirements to enter the computer industry combined with established brand identities of the current incumbents make barriers to entry high, not to mention the economies of scale and distribution channels that incumbents enjoy which make entry barriers even higher. The current PC incumbents enjoy demand-side benefit of scale in the business sector where PC buyers prefer to buy products from large trusted companies, raising the level of entry barriers.

PC industry is characterized by fast declining ASP year over year. Together with the increasing component costs from 2009, both Dell and HP are facing squeezing profit margins (HP 2010; Dell 2010). In the first quarter of 2011, HP’s gross margin for its Personal System Group (PSG) is as low as 6.4% (Epstein 2011). Similarly, Dell’s gross margin of PCs is often 3 to 5% (Wang 2010). This indicates that if both