Final Individual Multiplay Reflection System †Free Samples to Student

Question: Discuss about the Final Individual Multiplay Reflection System. Answer: Introduction This business simulator can easily be understood for its intended business users. The simulation game creates its own assumptions and future models to give a real idea of the business, which will ultimately help making plans and different decisions in the real world. This simulation game is known as MIKEBIKES which contains two different versions within itself, enabling single play and multi plays. Playing this simulation make you feel like being in the real world and gives you a strong source of understanding the business. Multiplayer experience contains three parts production, capacity distribution, equity, price, development, PR and debt etc. All these parts require the player to play smartly and need to make brilliant decisions. In the beginning of play, the target is to maximise the shareholder value. It is recommended to start playing with the advertisement and the next areas will open automatically one by one. A proper research was made on the strategy of the price and advertisement of the product. In accordance with the strategy, we made certain campaigns on advertisement and implemented adequate Price mainly in Newspapers. More TVs were produced to eliminate the loss off sales. In the 2nd year, we tried to create more awareness of our brand and less distribution margin was paid with additional support. To reduce the interest expenses, we paid off all the debts in the 3rd year which effected the profits and shareholder value. The wastage was cut-off and the efficiency was increased by controllin g capacity which lead the improved quality by 90%. 4th year was very challenging which required us to improve the TVs, it costed us around $2m as well as we had to launch a new product. This year was best for us to launch the Plasma TV according to the market research and reports. Launch of TVs costed us $1m just because it was highly demanded by the current market. During the year we created brand awareness and increased our production capacity as well as the quality. Alongside these, we have also started to buy back the equities. This contributed a handsome amount to the increase the shareholder value. We paid the shareholders a dividend amount of 50 cents. We faced the biggest challenge during our 5th year. We made improvements on our plasma and modern televisions. We also launched the kogan television in this year which had cost us a whopping amount of almost $4 million. We improved the product and thus revised the product price. The kogan television is one of the most expensive products available in the markets. The market surveys reported that the most important factor for the kogan televisions is their quality. Thus, we spent a huge sum for PR in the Magazine. We finally gained the control over the game in the 6th year. There had been a scope of launching a new product but we did not do so as we had launched the complete product. The launch of a new product would have resulted in self-competition as we already had three products in circulati on in the market. We concentrated on the quality, efficiency and the capacity due to the increment of the product price and the expansion of the sales. We bought the possible amount of equity that we could and brought about an increase in the amounts of dividend that was to be paid. We abided by the same strategy in the next year too. We concentrated on the decreasing the product price in order to bring about stability in the sales section and had stopped making improvements on our products. We attempted to increase the shareholder value by paying the maximum amounts of dividend that we could. During the final year, we decreased the price of our products in order to maintain the sales but made the minimal amount of changes in our decisions. In the first place we had to assign a new name to the company. The new name assigned to the company for the multi-player simulation was Modern Televisions. I went through the reports of the previous year in order to form a general idea on the market and to get an idea of the required steps in the process of decision making in business. During the initial year, we were only granted mountain bikes in the operation of the company. We tried to incorporate amounts higher than the default prices with low changes in the advertising and PR budgets. As a result, after the first roll, the SHV dropped from $11 to $9. A discussion with the fellow students helped me to focus on the advertisements in the initial year. I revised my decisions to find an increase in the SHV. The following year was vital for the distribution and branding wherein I decided to push the sales by bringing about a decrease in the pricing of the product at $705 from $710 In the second week of gaming, I begun with a better understanding of the very basic ideas of the simulation. I had shown better decisive qualities in the initial years than in the past week. The recoerding from the game play are enlisted below. The generic price for each modern television unit were set to be $707. A sale of about 18000 units were forecasted while the actual number of units aavailable for sale was 16500. I aimed to increase the price of the products by bringing about an increment in the PR and the advertisements. I brought about an increment in the capacity of production and then rolled over. The results are as follows: On going through the market research, I came to realise that some amount of sales were lost due to high awareness and low production. Thus, I took a decision to forecast the sales ann increase the production. I brought about a rise in thein the budget for brand awareness to 700000 from the previously set amount of 250000. I had launched support for the mountain bikes in three different channels whereby the main focus rested on the stores of the sports. I had provided a 25% of the margin over the sales across almost 60 stores. The roll over results are as follows: The outcomes were promising when compared over the time spent over the simulation. The rise in the PR and the awareness were well paid off. There were no reports of the lost sales. the rise of the share market also threw some light on the path that should be taken from the point we were stuck at. It was crucial to spend on the branding areas in order to achieve these results. I had been lacking in the department of distribution as I had not reached out to the required number of distributors. The level of capacity was under control. The expense for the storage of the bikes in the warehouses were reduced due to the fact that there were not many products in the closing stock. The decision planning of the year 2020 were provided under the year ahead report. I made sure that I followed the same. I spent on the PR and the advertising campaigns and thus increased the retail price of the products. The budget seemed to be correct according to my understanding thus I kept the figures intact. I came across a drop in the quality level that was forecasted with the same figures remaining for the next year. Thus I brought about a raise in the budget reserved for the quality sector on order to keep it at 80%. I also brought about an increase in the production in order to keep up the market and sales in a rising position in accordance to the earlier reports. I also attempted to provide for the brand stores alongside the television and the discount stores. The major focus however lay on the brand stores due to the television category. The commission was increased for the stores to enhance the sales. Following are the outcomes of the roll over. The latest product was introduced in the multiplayer as well iin the fourth year of the business. The most vital and reasonable help neededd to formulate adequate decisions and strategies were provided in the year ahead summary. The cost of launching a new product will be around $1 million The cost of improvement of the specifications of the product would be $1 million The cost reduction of the existing product would cost $1million The total cost incurred for the improvisation of specifications and the reduction of costs would be around $2 million. I decided to launch a Plasma Television considering my income level. I had decided to increase the support of the discount shops during the launch of the plasma product. The PR and advertisements were also set at the required levels which were displayed within the research reports. I had spent equal amounts in the fields of administration and PR in case of the plasma televisions as maximum buyers can be reached through the television mediums. The results of the year 2021 had been on an encouraging side due to the rise in the SHV. The spot-on distribution strategy had made this possible. I had, however, come to the realisation that I had incurred losses due to the low production in the field of the sales of plasma televisions. Thus I needed to focus on the production levels and the maintenance of the customer follows. In the planning for the following year, I decided on a vague topic of buying back the shares and distributing the dividend. I had also made plans to launch the road bikes at the price of $2100. The production capacity was set at 50000 along with the production of the plasma and modern televisions at 25000 each. The prices were hiked for both the plasma and the modern televisions. The decided dividend amount was $0 and shares worth $200000 wre decided to be bought back. All the above decisions were considered favourable as compared to our competitors. On comparing 6 long years with the machine, I found that I had perfored well in the initial 4 years and then encountered 2 bad years. These two years provided me with an insight into the finance factors where I needed to put in more focus. There had been a rise in the SHV for the past two years but I had not yet reached the competitive target. I still lacked the shareholder values despite being a leading provider of televisions in three different categories. Important points learnt after the game play I have learnt five distinct points after spending my time in vague decisions for exploring the options that were provided in the smart Sims. These five points, that are enlisted below, prove to be beneficial for the activities of the multiplayer groups. A strong awareness needs to be built for the mountain television. This may be achieved through making more expenditure on the awareness programs. The targets of the media channel need to be understood in order to achieve the best results. Powerful distribution plans that cover the target market need to be established. These plans should be in alignment with the research reports that were provided for the given year. The production capacity should be maintained in order to supply the adequate number of televisions. The efficiency level must be maintained up to the levels suggested by the market research. We may decide to bring about a rise in the price once we have more than 50% of the market shares. We should, however maintain the distribution strategy and the branding in order to capture the maximum sales. Conclusion It has been a very good experience with the multi play experience. It helped me learn a lot of skills and knowledge. It helped me experience the reality of the business world and got me ready to deal with the clients and investors. According to my Opinion, MikeBikes simulation game is the best way to understand the different practical situations in the business world and enabled me to solve the possible errors in the practical business.