You have successfully adjusted to your competitors. On this decision page, you can bid on celebrities. However, it will also decrease your ending cash. Business Strategy Game Tips - . Im an excel and math geek and started to break the game down and understand it on a deep level. Is your strategy also works for my situation? You will also receive a copy of Currency Made Simple. Then, just like you did before, plug in different values for your internet price and see, which price yields the highest net profit. My direct competitor is now selling 8 stars with more than 400 models in wholesale so I think i will be at a even better position selling 50 models. I am so thankful for your post!!!!!!!!!!!! It might be tedious work and consumes a lot of time, but it will definitely worth it and will let you win the BSG. Complement each other. Im play a new version of BSG ,we have already completed year 17 and now our team have a problem with struck in the middle stage that cost cant decrease more and this year other company in the industry have a high SQ star and low cost (price war) that we cant fight them because our cost is too high. Here are some of the best tips for accelerating your business. I only ever paid attention to my profits and I never ever sold capacity. For long term celebrity contracts and endorsement, bid for them in the early stages of the simulation. 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? 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. You will soon know why. Hence, keep track of the industrys internet price and how it changes. Make sure the celebrity is suitable in the geographical region you want them to endorse your shoes. We will now look at all the decisions you have to make to actually play the game and be successful with your strategy. This is probably the most important decision entry page in the game and you will be spending most of your time here. The Business Strategy Game or BSG is a simulation game used by, different colleges for their Business capstone. There is a huge difference of learningHow To Winand learning the basics of the game. Yes, I am talking about the www.bsg-online.com for 2023. This also means that players have a limited number of options which creates a glass ceiling and sets the tone for the rest of the game.The first years of a Business Strategy Game is fairly fragile and any major mistakes will leave permanent scars. And you can basically never have enough capacity for private label. Thanks a lot! 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. Again, this can be trial and error for a couple of decisions but you should get a feeling for what multiplier is best for your company. Use the remaining 30% capacity to sell shows in private-label! Now you begin to understand why I earlier said, that if you use overtime for branded production, you should expand your plant capacity for the next year. The image rating of a company is the way it is viewed as a brand, The image rating of a company is usually based on. As a company wants to be in every market, it will be important to . For this blog post, I will concentrate on the high-quality + low model strategy. Your Delivery Time should be set to 3 weeks. The FREE BLOGcovers topics like. Otherwise, their endorsement effect declines. I see this every semester, and you dont want it to be you. . 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. Tips for Lowering Cost and Other Recommendations For Winning the Business Simulation Game Toggle the advertising spending to see the lowest cost at which the company can achieve the desired market share. Dont be fooled by Cheap imitation Business Strategy Game guides you might see online. So far I have only build a 1000 EA plant and additional 500 NA plant. The importance of buying back stock early and how buying back stock gives you an edge in the game. 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. After a couple of decision rounds, you will get a feeling for it and it will become easier, no worries. I never really watched my EPS or credit rating (ofc credit rating should be a B at least). I took first in the world seven out of ten decision rounds and won the BSI again when my MBA program used the McGraw Hill Business Strategy Game simulation as a learning tool also. Authorize your construction and you save your decisions. 7 Winning Tips and Strategies for the Business Strategy Game (Bsg) 2022-10-12. Business strategy game Rating: 7,4/10 916 reviews. Your interest rates depend on your credit rating and the duration of your loan. Like I said before, you should be building capacity, yes. To improve the financial standing of the company it is a wise idea to employ the balanced scorecard to determine the strategies that will boost the companys competitiveness. I started with 250 models and S/Q rating of 5. Heres What You Get in The Ultimate BSG Solution Monster Package: The Ultimate BSG Solution Guide was written by an old established BSG Grand Champion. However, I would recommend not taking out any loan if possible. Hence, you will only focus on the two following decisions that are worth their money as they increase your image rating the most. This will enable you to tap into the different unique abilities of each of the members thus strengthening your team. 5. At the same time, youll generate significant amounts of income from the hardest market to extract revenues from. Which wholesale are you referring to? If for whatever reason you arent satisfied with the guide, return it anytime for a full refund. With this, they raised the global capacity to 30,000 when the potential global demand (including private label) is only 24,218. So regardless of what decision year youre in, how bankrupt you are, or if your company is dead last right now you can SUCCEED in the Business Strategy Game by following my SIMPLE tips, advice, and strategies. However, if done right, it is worth the time as it will yield the maximum profit possible and success in your industry. Every single member should be given the venue to express their thoughts clearly. However, with a reasonable price. Sure, you can ask anytime Business Strategy Game Espanol (Spanish BSG Help ), Ayuda En Espanol Para La Simulacion Glo-Bus (Spanish Glo-Bus Help), Business Strategy Game En Franais/French, En Franais Business Strategy Game Assistance (French BSG Help), Business Strategy Game In Het Nederlands/Dutch, In Het Nederlands Business Strategy Game Help (Dutch BSG Help), Business Strategy Game Auf Deutsch/German, Business Strategy Game Auf Deutch Assistenz (German BSG Help). With increased competition, prices tend to decrease. Does it affect any other factors? Economic Impact of Hurricane Harvey and Hurricane Irma, Temporary Oil Price Changes Hold Back Consumer Spending. Its not too late to do that yet. What will I get for my $48? I am the longest known active Business Strategy Game player with a career stretching back to 2006 and throughmultiple versions of BSG. Be in it for the long haul 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. Help, hints, tips, and strategy for The Business Strategy Game (Thompson & Stappenbeck) which will greatly improve your game performance. It almost worked TOO WELL. So, multiply your sales volume for the wholesale segment for each region by 1.2. Oh, how I wish I had known all this before I began playing. Theres not right amount of capacity you should purchase. I now have another question about capacity. In this multiplayer business simulation game, Virtonomics players must strategically build their virtual companies to become successful Virtonomics entrepreneurs. During the entire simulation process, it is important to keep tabs on the company intelligence reports (C.I.R) and the company operating report (C.O.R) The C.O.R will give you insights into plant investments, labour statistics as well as data on plant capacity. The BSG Game went through a major revision in the beginning of 2019. You will also receive a copy of Currency Made Simple. You can also pay dividends to your shareholders. Two of the most important things to do here are analyzing your competition and optimizing your values. Concerning changing others values, I recommend reading my initial post where I have explained everything in detail. In addition, you have the option to repurchase your stock. Yes, despite your competitors building capacity as well, I recommend increasing capacity in a reasonable amount. . I will explain soon, how to increase plant capacity and why we need the capacity for private label. This has been very useful. I have placed this manual and an easy-to-use currency spreadsheet on this site for you. I still think its a waste to build a plant there, unless youre selling tons of shoes (high models, mid SQ). The most important advice in advance: it is all about PROFIT. (Im adjusting for Y13 now). Learn the single most powerful strategic financial decision you can make that WILL, Discover why one business level strategy is FAR SUPERIOR to all the others and why you will surely lose if youre not implementing it, Learn in plain English what each decision screen does and the data thats important to manipulate to win, Learn how to pull yourself out of debt instantly even if youre bankrupt or dead-last, Learn which industry reports you MUST pay attention to and how to interpret them, Discover the single-most common mistake that students make and why you MUST avoid it at ALL COSTS, Learn which regions you should build factories in and which regions you should steer clear of. The decision is due tonight I am so nervous but the performance score so far looks good. I believe it varies based on your games situation. 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. When starting the BSG, you have two long-term loans; one for 5 years, the other one for 10 years. In the case where other competitors are employing this strategy; strive to be the first team to get the most points. I am a Business Strategy Game Grand Champion. 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. Ship all the other shoes for the Europe-African warehouses and the Asia-Pacific warehouses from the Asian-Pacific plant. This isthe lazy wayof winning the Business Strategy Game and requires very little knowledge and effort on your part. I shut them down fast and knocked them out of the running. I usually go ahead and plug in whole dollar amounts for the wholesale price and see how net profit changes. Hi. Members of the team should have skills and strengths that serve to complement each other for a perfect working synergy. 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 best business tip I have received so far is to have a backup plan for all your moves. A quick e-mail to your inbox. My team and I started the game with minimal knowledge and flailed for the first three decision rounds. If this is still not enough, add the missing shoes to the other plants Branded Pairs to be Manufactured in Year XX number. These are some of the tips you can use to win the business strategy game. It is not. Also do you know the cost of building additional capacity. sales volume estimate. Look over the shoulder of a Business Strategy Game Grand Champion and see how he pulled off his overwhelming victory. It only takes 10-15 minutes to put the numbers in the right spotsto make yourself an Industry leader. Increase models? Everyone has the same advantage as the team next to them. This would leave you with a bunch of shoes unsold. One option that you definitely want to purchase is Option C. Option C increases your S/Q rating by 1 star. Other teams in your industry wont stand a chance when you unleash the tactics we teach. Hi, thanks for the great strategy! However, there are still some other voluntary decision that will prepare you for future decisions. Thank you so much! Hi there! This decision page is mainly a waste of money and we will not spend a lot of time with this page. According to the change, you can estimate the next years average industry internet price and plug it in. When you sign up for BSG Tips, youre not alone. Do not focus too much on Ending Cash, but keep focusing on Net Profit, try to increase that over each years. The C.I.R on the other hand will give you a deeper look into market share, S/Q ratings as well as price. If it increases your profits, leave it at Yes, otherwise set it to No. The celebrity should also be compatible with the product, for instance, a football player would be ideal for a sports shoe endorsement. To boost earnings per share (E.P.S) you can use the cash at hand to retire and repurchase any outstanding shares. Thank you in advance! I cant seem to find it. And then I would just follow my tips and adjust all other values to maximize profits. 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. Beating the Business Strategy Game About the Guide. Do not worry about your market share percentage or any other value than your net profit. As I played the game, I discovered that I could use some fairly simple math to massively increase my game score. Copyright 2018 BGSTips.com | All rights reserved. Strategy 1 - Align simulation with learning objectives. Im glad I was able to help and good luck to you! If you demand for branded production is met, put everything else into private label to make sure you dont have unused capacity. So, play around and find the best combination for your given S/Q rating that yields the highest net profit. 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. On initial input of the change there was a big boost to my numbers, but when I left the page the game suddenly dropped my numbers below my original ones. 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. Do I need to change another setting on another page for this to remain positive? Learn tips & tricks, from a BSG Grand Master! Hi Fin, Thanks for the detail post and the screen shots. Strategies, decision screens, reports and tests. Looking at the North America column, you now have to plug in your values for Wholesale Price, S/Q Rating, Models Available, etc. Your competitors are most likely looking for this information too. Thank you so much for your suggestion! However, when pricing your shoes, keep in mind to set the price at least $5 below the wholesale price average. Dont blindly waste recourses on a celebrity tag; be strategic to make sure you will get the return on investment. Good communication skills. That combined will give you a good boost for the last year. Most Industry competitorsarentable to replicate high results when they face tougher opponentsand have asimpleunderstanding of the Business Strategy Game. However, if you happen to use overtime at either of the two plants, plan on increasing the plants capacity in this decision round. 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. Increase S/Q ratings? So if one of your markets is not satisfied or prices are high, I would built capacity to attack this market and sell a lot of shoes for a cheap price, to guarantee you the lowest price so that you sell all your offered shoes. The only thing you wont get is Magic Year 11 Secrets Revealed.Dont Wait! (meaning I decreases it from $1.00 to $0.15). I personally would not bid higher than $5,000 $6,000. Written by an Undefeated Business Strategy Game Grand Champion. I am on my second year and I have negative income right now, any tips on how to get in the positive? Start off with the values that you know for sure: For the high quality, low models strategy, I recommend starting off with a S/Q rating of 7 stars and 50 models available. I just have a quick question. My group and I are about to complete year 17 for the game. 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). Everything else like earnings per share (EPS), return on equity (REO), and image rating (IR) will automatically follow. The fact that you are looking for help mean. The worst thing that could happenis you follow one of these guides to save a few bucks, to implement the strategiesThe Whole World Seesand end up LOSING the Business Strategy Game which may result in a low grade and possibly re-taking the class! Order now. Here are factors to be considered before picking a celebrity. But strategy wise I always sticked to my maximum net profit strategy which you can do no matter your competitors strategy. As always, do not forget to save your decisions after you are done. However, some values, such as the Wholesale Price have decreased instead of increased. Let us take a look at the Plant Capacity / Upgrades page first. For further explanation, please read my blog post. I hope that helps and good luck! 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. However, you should keep on thing in mind: Your internet price should ideally be 40% higher than your wholesale price. In the instance where a plant is available for purchase, buying one would be the ideal option because you will be able to save time and up to 20% of the money that would have otherwise been used to build one. How can I increase my game score? Embedded in the magic numbers is a reinforced long-term money-saving strategy that will save you money every year forever! The BSG tends to underestimate those values by about 20% and hence, you need to correct them for a more precise estimate. Yes, its not too late yet to follow through with my tips. 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. However, the private-label market is set up the way that only a limited demand is given each year. Pay attention to the plant upgrade options as well. Even more important is, to stick to it! You need your capacity and it is never a good idea to sell your existing capacity. Max OUTyour production with the high quality shoes at the lowest possible cost. Since youre only in the second year, I would honestly decrease your models to 50. Were at the middle of the pack and wanted the best strategy to move up the ranks. 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. Profit is the key to success in this game! Thats one of the things you should never do because you can always use capacity. However, if you want to do it more precisely, note down each industrys percentage change over the years and use this number instead of the +2%. 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. 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? It will be, trust me. If you add capacity it will show you the price. It was set Pay Dividends $1.00, which turned out 20,000k in total. On this screen, you can handle your financial decisions for your company. congrats on your success! This is actually typical of almost every single Business Strategy Game Industry, as it takes only 1 greedy person to get the ball rolling. Learn tips & tricks, from a BSG Grand Master! The best part is that, after it is in place for 3 or more rounds of play, the effects become almost irreversible. You need the capacity for the private label market. You should pay attention that your S/Q Rating of Branded Pairs Produced matches your value on the Sales Forecast page. It has two components. The BSG Ultimate Solution isTHE ONLYGUARANTEEDone-way ticket to winning the BSG. 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 was thinking about building a LA plant because I took the majority of private label there last year. Those that are already playing the BSG Online and perhaps want an edge over the competition. Im giving away adeadly secretinsideMagic Year 11 Secrets Revealedthat will make a person number 1 almost no matter what. You cannot afford to followsimple techniques and fail! 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? 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. Business Strategy Game - Capitalism Lab. However, it is not necessary and Option C is definitely more effective. For your company to be on the right track the R.O.E should be at least 15% annually. You possible might decrease your net profits with this, but it is definitely worth it and will pay off in the long-run. However, after 3-4 years, your competitors will settle and changes will be more predictable. Entering year 15 I am still doing 8 star but the demand forecast is super low. 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. Be objective in your approaches from the beginning of the simulation right to the end. Thanks for your strategy! Use of my strategy creates a landslide effect that, as you can see, is very devastating to all opponents. I have experienced different behavior with bidding on celebrities. So the question is: would you recommend for my team to still increase capacity despite this fact?