Assignment of round practice capstone

Reflection paper of round practice capstone

I have really enjoyed while doing the simulation. It was such a great experience to run a business in a simulation, It has really helped me a lot that how the businesses are run and how to compete in a real world. When I started the simulation game I was the in-charge of the company Andrew and I was solely responsible for making the decisions of the business.

I was excited to see where my company goes the following weeks. I wanted to be a top competitor across the board in my products. I was hoping to be in the top two for each product. At start my goal was to keep customers buying my products at the highest rate in the field while working to lower my production and labor costs. Earlier, I wanted to invest greatly into the quality control and workers to keep the public satisfied at the lowest costs. By lowering my production and labor costs, I passed the savings onto the consumer. I was hoping by having the best products available with the lowest cost that it will drive the consumers into trusting my company and being loyal consumers but it didn’t work as I expected.

If I ever had a chance to redo the capsim again, I will change my strategy which I did earlier. I will focus more on Brand marketing and availability is extremely important to keep the demand level with the production. My strategy is to keep the public as close to 100% on accessibility and awareness, for all of my products. I plan on doing this by investing into the marketing aspects of my company. Using the annual report to predict how much marketing is needed to raise the awareness and accessibility as well as make up for lost awareness from the previous year.

My goal when making decisions was to look at the Currier reports to understand what customers are after. I found that with each round they wanted higher performance at a smaller size across the board. The number of products sold continued to increase but only slightly over time. It requires continuous investment in marketing and product placement to be able to keep customers interested. If I notice a product becoming less popular with customers my plan is to re-plan the product, change the size and performance to exceed the requirements of the public, and increase investment in marketing. If this fails to have less than impressive results my plan would be to retire that product and invest in more profitable products.

            I will also take care to make wise decisions with marketing, by investing in good pricing, promotion, sales, and keeping a close eye on sales forecasts. I want to keep up with production without too much over stocking, and have my human resource department keep the company running smooth. To make my company popular with the population I will need to keep my products performing better at a lower cost than my competitors. With the public’s support I hope the stocks in my company rise to the top of the field.