Go ahead and try out which combination yields the highest profits. The decision is due tonight I am so nervous but the performance score so far looks good. (meaning I decreases it from $1.00 to $0.15). Thanks for your strategy! Sounds good, congrats! However, the private-label market is set up the way that only a limited demand is given each year. Over the course of many years, I have seen a plethora of situations, companies with a BILLION dollars in debt, people making strategic mistakes that willruinthem in the LATE GAME. Thanks a lot! I want to thank you for visiting my Business Strategy Game (BSG Online) website. First, click on the Adjust Competitive Intensity button that can be found on the top middle of the page. Two decision rounds later, I was ranking 3rd in the world. Here's a free video of things to watch out for while you are running your shoe company and competing in the BSG. More than often they drone on and on about BSG, to the point, its barely relevant toimpress you with abunch of words. However, do not price your shoes too high, so that your competitors have a lower price than you and will sell their shoes first. No worries, it will be easier after the first few years. 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. Thank you so much for your reply! The rule of the game is to compete with the other students' teams to stay ahead to gain a competitive advantage over other teams. What should I do for year 12 and 13? As I played the game, I discovered that I could use some fairly simple math to massively increase my game score. Both The Ultimate BSG Solution Guide as well asThe BSG video guide were created by a BSG Grand Champion.Together, you will have all the information you need to not just win the BSG, but to DOMINATE.You get Exclusive VIP access to our secret forum area. The Business Strategy Game (BSG) is online games in which students form teams that are assigned tasks and compete in running the business of an athlete footwear company. Thanks! Wow, you are done! Hi Yvonne. It's customized for you to run the company in direct competition with other class members. 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 almost can never have enough capacity because what you dont sell in branded, you can sell in private label and dumb prices there and take away your competitors market share. However, with a reasonable price. You will soon know why. In the first few years, this will be pretty difficult to determine. Company operations are patterned after It covers in detail all of the strategies, concepts, software features and tricks necessary to win the McGraw-Hill Business Strategy Game. 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. Hi, thanks for the great strategy! First, set your Number of Models to 50, as determined earlier at the Sales Forecast page. I have extra capacity in the LA plant (worst place to ship from to any place outside of LA) which I tried to sell off. The company that offers the lowest price will sell all its supply first, followed by the company with the second lowest price offered, and so on. After you have decided to which region to ship your shoes to, go ahead and set your Superior Materials Usage value and your Enhanced Styling / Features value. After you have done this, play around with the values for Wholesale Price, Advertising Budget, Rebate Offer, and Retailer Support (increase/decrease by 100s only, as everything else makes no sense). Good communication skills. Hi, Im glad to hear that it helped! 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. I only ever paid attention to my profits and I never ever sold capacity. and L.A. volumes and finally plug them into the NA manufacturing slot. Ive turned dead-last severely bankrupt companies into Industry Champions with just two years left in the game. It is a show to the investors whether their investment is performing well. You basically do the same thing over and over again, for every decision round. Develop a fictional startup in a choice of industries, playing in modes including entrepreneur, business war or Virtonomics tycoon. However, it is not necessary and Option C is definitely more effective. Virtonomics. Thats one of the things you should never do because you can always use capacity. In Y12, I paid early payment 12,000k at 8.5% and continued borrowing 70,000k at 4.5% for 5-year). If you have any questions, feel free to come back and ask them. A free section gives the casual reader some tips and tricks in class and a paid guide for people who are behind and need to catch up or students who want to save themselves the headache and win. (Im adjusting for Y13 now). How did your 2nd decision go? You will have secret access to private areas of the site and get to ask questions with my personal expert replies. All the while you get lost on what was really importantto do actuallywin. Your numbers might be a little bit off due to the reject rates. if you have left over inventory, you should either work on your numbers as I described in my post or put the left-over shoes into private-label. If not, I dont see the need to purchase equipment in order to make more shoes until the demand begins to encroach upon my shoe making capacity. Thank you so much! If you tweak those numbers, your demand will adjust accordingly. In addition, the company resembles an athletic footwear company with plant operations instead of outsourcing . 4. Most of the decisions you can make here are a waste of money and will not benefit your company. Celebrities will enhance your marketing efforts and help you sell more shoes. 39K views 1 year ago #businessstrategygame Here is my ultimate guide to help you ace the Business Strategy Game. Entering year 15 I am still doing 8 star but the demand forecast is super low. Displaying corporate citizenship in a responsible and socially acceptable manner for not less than 4 years. Steal my conservative private label strategy that and immunize your company from bankruptcy. Learn More You basically determine and run the market. Yeah I had that in the first weeks as well. Thank you so much for the good recommendations. It is important to toggle your values and find the best combination to maximize your net profit. Setting up a successful business requires time, money, a lot of hard work . I would then adjust the Percentage of Superior Materials to whatever is needed to match my S/Q Rating with the value plugged in on the Sales Forecast page. With remaining the cash on hand, try to buy back stock, pay off your loans from the beginning of the game, pay back dividends, and upgrade your plants. The BSG Ultimate Solution isTHE ONLYGUARANTEEDone-way ticket to winning the BSG. 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. In the upper left box, you have available sources of additional cash. 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. 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. In addition, your Retail Outlets values should always be the highest number possible that you are allowed to enter. Let me ask you this. but out industry there is a direct competitor for me, he is also star 8 and 50 models, and he prices so low for wholesale, only 47! I have experienced different behavior with bidding on celebrities. From the desk of: a Business Strategy Game Grand Champion. Also, I suggest not decreasing your dividends. Set Models Offered to 50 and Free Shipping to No. Before you even start plugging in any numbers, it is important that you decide for a strategy to pursue for the game. I let the rest remain the same in the entry. Take advantage of my highly-guarded distribution decision strategy that Ive used to reap the benefits of the complex tariff rules and exchange rates. You need to get confidential,accurate,comprehensive, andreliablyup to dateinformation from a trusted andPROVENBusiness Strategy Game source. The value that yields the highest profit value is the one you want to go with for this decision round. Dont blindly waste recourses on a celebrity tag; be strategic to make sure you will get the return on investment. The Business Strategy Game BSG is a PC-based exercise designed to mirror the real-world features of the competitive athletic footwear industry. However, it will also decrease your ending cash. Apply the following tips to reduce some of the costs. I recommend increasing capacity and keep focusing on your profits. Also, I am concerned about the prices strategy; the group who is in the first place has the plan of highest S/Q rating (7) with 200 models and lowest prices. If you have any questions, comments, concerns, or feedback, click on my name below and Ill respond to you as quickly as I can. Switch between different advertising budgets to see which strategy will be the most cost-effective to capture the target market at the best price. Yes, I would only add capacity onto existing plants and not build new plants. Personally, I would do a higher SQ to start things out while you are building capacity to match the low quality-high model approach. There is a huge difference of learningHow To Winand learning the basics of the game. Learn tips & tricks, from a BSG Grand Master! From this highest whole dollar amount, I plug in every possible value around it and find the price that yields the highest net profit. Thank you, Fin! This has been very useful. My guide follows the rule highest net profit is key to success. These are the tools you need to win BSG. I worried that another team would have stumbled onto your blog, but few people Google tips it seems! Free shipping will most likely not increase your profits. Copyright 2018 BGSTips.com | All rights reserved. I followed your recommendations, and I have a good rank. My undergraduate business strategy teacher made us play the BSG-Online simulation for 40% of our grade. It typically keeps increasing until a certain price point and then starts to drop. You can do this by paying off your loans at the earliest possible time. Is this guide guaranteed to make me win? The same accounts for your Change in Annual Base Wages and Incentive Pay values. My question is what if I decreased the pay dividends to $0.15 from $1.00? Selecting the members that will form your team is very crucial as you will be working together to ensure the success of your company. Those that havent played the BSG Online yet and are researching online for every advantage they can find. Even though this game is said to be a business simulation, get rid of the thought that all decisions have to make sense and be logical. You do not want that to happen, especially because your internet sales only account for a small percentage of your entire sales. You are now done with your private-label decisions and all significant decisions that affect your net profits. You cannot afford to followsimple techniques and fail! 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. But this year the shipping is too high from AP to LA so I cannot make any money from LA. Sometimes, clearing your beginning inventory at a discount will boost your profits. Select +2% for the Percent Change in Competitive Impact of All Other Factors from Previous Year. However, do not rely on those values. In this section, you can upgrade your plants. Here is a chart again tho show you the process: If your regular production capacity is not sufficient, use overtime. While they might boost your image rating, they will decrease your profit. However, when pricing your shoes, keep in mind to set the price at least $5 below the wholesale price average. Okay. For only $35, get instant access to the Business Strategy Game Guide. Currently, were selling 150 models. If for whatever reason you arent satisfied with the guide, return it anytime for a full refund. we are having a horrible time of having left over inventory .. we are in year 13 and our numbers are ok we were 1st place last on year 11 and second place on year 12 but i having a feeling we have been focusing so much on our current numbers we arent going to end well any advise on what we should do on inventory and other sections of the game. A McGraw-Hill Business Strategy Game Online Expert, Copyright 2023 Win The Business Strategy Game Online Powered by Wordpress, W3 Total Cache & Cloudflare, Business Strategy Game Quiz 1 Study Guide, Business Strategy Game Quiz 2 Equation Cheats, New Glo-Bus Simulation Game Quiz 1 Answers, New Glo-Bus Simulation Game Quiz 2 Answers, Buy The Business Strategy Game Guide for $29.99, Tips and equations to make the quizzes easier, An easy to understand tutorial on exchange rates, tariffs, interest rates, and how to utilize them to your advantage, YouTube Videos on how to play the game and learn the software as quickly as possible, An distilled version of the players guide to save you a lot of time. What Poker Strategists Say Poker is an incredibly strategic game and as such, there's a lot to learn from its big players. Those are LEARNING REFERENCES written bycommonplace Industry Champions, which teach you how toplay. I include tons of free information to give you a leg up on your classmates on my blogroll. Five years ago, I was sitting in a similar situation as you. If you reach the last decision round, comment down below and I will give you some hints on how to boost your net profits for the last year and gain some extra points. Does it affect any other factors? If you happen to end up with a large surplus of shoes the next year, lower your 1.2 multiplier a little bit to 1.18. Stick in your e-mail address, and the tips guide will be in your inbox instantly. I put $1.00 pay dividends, which turned out 20,000k in total. I now have another question about capacity. Be objective in your approaches from the beginning of the simulation right to the end. Do you know why is 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. 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. 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. So, why not win the Business Strategy Game and stop your worrying. Like should I add up all my wholesale prices from the 4 regions and then divide by 4 to get an average wholesale price and multiply by 1.40 to get the internet price or should I base it off the lowest wholesale and then multiply by 1.40 to get the internet price? Hence, find the combination that gives you the highest profit. Thanks a lot! You can get BSG Game Help from experts who will guide you on how to win or top you game with the best Strategies.Visit BSG Game Help today and get professional guidance from BSG Experts. The FREE BLOGcovers topics like. You can either take out a 1-year, 5-year, or 10-year bank loan. Do not worry about me skipping the Internet Marketing, Wholesale Marketing, and Celebrity Endorsements pages. However, you can successfully apply most of the following tips to either strategy. You need the capacity for the private label market. You then want to select 0% as the Portion of the $XX mil. Everyone has the same advantage as the team next to them. I shut them down fast and knocked them out of the running. 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. That its always wise to start out on the right foot rather than try to pull yourself out of a financial nosedive. Choosing the correct financial approach, among other things, made a huge difference. When doing so, you have to plug in numbers for the assumptions section in the new window. that helped me become Business Strategy Game Grand Champion. 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? When starting the BSG, you have two long-term loans; one for 5 years, the other one for 10 years. This can be a very tricky decision and you need to analyze your competitors prices. (In Y11, I did the 5-year loan with 12,000k (7% interest). Any advice? you can SUCCEED in the Business Strategy Game by following my SIMPLE tips, advice, and strategies. I would still go for the 50 models and make sure to buy or build capacity so you have enough for your private label. Do this for all the four regions. Learn how your comment data is processed. To do so, first plug in your N.A. 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. 1. So when following the steps described above, you will have positive ending cash really soon again. You will soon know why. From experience Id say tho that it is already too late to adjust to my strategy presented. Here are factors to be considered before picking a celebrity. If you find capacity available for purchase, I would always directly purchase it. I am having trouble getting my company back into the positive ending cash after taking out a loan. What is this Currency Made Easy! This means, without increasing your superior material or enhanced styling / features, you gain 1 star. . 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 also receive a copy of Currency Made Simple. However, after 3-4 years, your competitors will settle and changes will be more predictable. When contracting a celebrity, your advertising efforts in the Sales Forecast section should not be low. Waiting to buy them later will lead to an increase in their prices. I feel you. 5. In this package you get TheUltimate BSG Solution Guidealong with theIndustry Champion video. Then, you want to plug in your L.A. total sales volume estimate into theproductionslot for North America as well and add up your reject rates. If not, see what positive percentage yields the highest profit for you. Exactly. If it is 0%, that is fine as well, do not worry about it. Ive played the Business Strategy Game many times through and have completely dominated my opponents every single round of every single game. This is very helpful. The Business Strategy Game is a PC-based exercise, modeled to reflect the real-world character of the globally competitive athletic footwear industry and structured so that you run a company in head-to-head competition against companies run by other class members. As much as expansion is important to the lifeblood of a company, if you are faced with a situation of people rapidly building a lot of capacity. They WILL work for you too and can adapt to EVERY situation. My group and I are also playing the new version of the game and were little bit lost. Buy Now with PayPal. I still think its a waste to build a plant there, unless youre selling tons of shoes (high models, mid SQ). That combined will give you a good boost for the last year. A window should pop up where you can select each of the four regions and change the industry average S/Q rating and competitive impact. Is there anyway to increase the demand for my shoes in the internet/wholesale markets? In the first years, the estimate of the industry average might be a little off the +2%. For your company to stand out, it should ideally have an image rating of 70 and above. But my profit is still a little bit low for a second place, guess my price is too low and I need to cut some of my expenses, right? 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. However, if done right, it is worth the time as it will yield the maximum profit possible and success in your industry. The knowledge to exasperate competitor weaknesses and curb competitor strengths lies in the strategic knowledge in the model. Best strategy guides for bsg online how to win bsg (business strategy game) have spent years of ten dedicated men practicing the bsg online games with over DismissTry Ask an Expert Ask an Expert Sign inRegister Sign inRegister Home Ask an ExpertNew My Library Discovery Institutions University of Law University of Greenwich University College London Learn how to set your prices right by orchestrating your branded market efforts with my intense market advertising and a retail support campaigns that will ensure company stability for years to come. I did not stock issues or issue purchase in the those years. I suggest to go for maximum profits. How to solves this situation ,have you given us any suggestion. You should pay attention that your S/Q Rating of Branded Pairs Produced matches your value on the Sales Forecast page. 7 Winning Tips and Strategies for the Business Strategy Game (Bsg) 2022-10-12. Business strategy game Rating: 7,4/10 916 reviews. This like a trial and error process and does not necessarily have to make sense. I daily (thank you, Hootsuite, for making it so easy!) For only $35, get instant access to the Business Strategy Game Guide. 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. update them with tips and food for thought from the paid guide. Let us move on to the tricky part of this decision page. Business strategy game. But again, thanks! Since there are many decision making elements in a simulation game, for example in Global Challenge the business management simulation, there are demand, production, HR, R&D, marketing, logistics, transfer pricing and taxation, and finance decisions, instructors should decide "which . With this, they raised the global capacity to 30,000 when the potential global demand (including private label) is only 24,218. With our strategy, you might want to think about getting Option A as well. You can also pay dividends to your shareholders. However, some values, such as the Wholesale Price have decreased instead of increased. The accumulated knowledge I have over the Business Strategy Game is on an unrivaled scale. 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. Avg. values have changed. I am in a box where every move I make to lower cost or shift production lowers my EPS or credit rating. Then, after a lot thought on the matter, I devised an easy method for taking full advantage of currency fluctuations. The first is the paid guide. 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?. We will now look at all the decisions you have to make to actually play the game and be successful with your strategy. Could you win the Business Strategy Game against a bunch of 5th graders? Instantly Jump Your Business Strategy Game Score 10 Points for FREE! Dont let them beat you to it or you simply wont stand achance. Those that are already playing the BSG Online and perhaps want an edge over the competition. Increase S/Q ratings? My friend and I walk through the simulation on how it works. $50.66 but $50.67 gives you higher profits, go for the higher prices. Obviously, the other teams and their decisions will play the biggest role in how you play the game, but this is a good starting point for how the game works and . I just have a quick question. Even more important is, to stick to it! Do not price your shoes too low, so that you will not make any profits with your sales. With more inventory, however, you can put more shoes into private label which is a really important aspect of the game. However, there are still some other voluntary decision that will prepare you for future decisions. After clicking on the green Go to Decisions/Reports-button in the corporate lobby, you can see your profits in the lower left-hand corner. This manual provides actual numbers to use as guidelines, has many examples from real games, and should make your life so much easier than mine was! 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. Hi, And you said I should only add capacity onto existing ones instead of building a new one in LA right? One time, I was able to increase my net profit by lowering TQM / Six Sigma Quality Program to $0.20 and increasing Percentage of Superior Materials to maintain my S/Q Rating. Your Delivery Time should be set to 3 weeks. So your costs will be relatively low as well and the private label will be a very important factor of yours. The private-label market is a very nice opportunity to gain an advantage off your competitors and take their market share. Everything else like earnings per share (EPS), return on equity (REO), and image rating (IR) will automatically follow. 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. Help, hints, tips, and strategy for The Business Strategy Game (Thompson & Stappenbeck) which will greatly improve your game performance. I dont know why the game suddenly changed your numbers but I recommend using every last bit of your capacity. This is extremely easy and if thats all you want, then grab The Ultimate BSG Solution right now and guarantee your success. On BSGTips, we have an email service and forum to handle any support issues you may have. I started with paying $0.05 dividends and increased it by $0.05 every year. Especially with our high quality and low models strategy, this will be very beneficial and will safe you some money. Is there a strategy that will always win? A quick e-mail to your inbox. Which wholesale are you referring to? I personally find it easier to pursue and had more success with it in the past. congrats on your success! The second part is the free site resources. You need this capacity for the private-label market. The accumulated knowledge I have over the Business Strategy Game is on an unrivaled scale. I recommend building additional 1,000 capacity for the North American plant in the first year, if your cash balance allows it. Helped me get to the second place! As a company wants to be in every market, it will be important to . Private label will help you dominate your competition. So I doubt on his strategy. Strategy and Execution is your shield and sword for Conquering the Industry. Hi, youre welcome. 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. This will lead to greater visibility for your company and thus a boost in the image rating. This is why building additional capacity is so important. We had a bunch of copycats in practice year 12, but nobody has figured our profit-maximizing, low-cost strategy, and now theyre pursuing higher models in the real game. No spam. Which is better, cost leadership, integration, or differentiation? Sometimes thats cutting expenses, sometimes thats increasing expenses (even though it might not make sense at first). The best part is that, after it is in place for 3 or more rounds of play, the effects become almost irreversible. However, to be able to do so, you need available capacity. As always, do not forget to save your decisions after you are done. Promise I wont have tons of question haha. Even though this game is said to be a business simulation, get rid of the thought that all decisions have to make sense and be logical. I was a poor undergraduate college student, too, at one point, and I understand your unwillingness to pay for an additional book. Those that are already playing the BSG Online and are going bankrupt and/or are dead last. 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. Two of the most important things to do here are analyzing your competition and optimizing your values. I usually have the highest net profit when setting Enhanced Styling / Features to $50k, TQM / Six Sigma Quality Program at around $0.70, and Best Practices Training at $5,000.
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