Business Is Conducted In Present Scenario - Myassignmenthelp.Com

Question: Discuss about the Business Is Conducted In Present Scenario. Answer: Introduction The simulation of business game plays an essential role that helped in providing a clear view to me on the process through which the business is conducted in the present scenario. It has ignited me and my other team members to utilize the different theoretical knowledge that has been gained from financial and management accounting. I utilized the theoretical knowledge that was gained in the present world scenario as this helped them in designing along with shaping the future of the firm that has been desired. The particular game has enabled me in applying different kind of methods of the decision-making process along with implementation of the new strategy that can be used by me to succeed in the future. Mike Bikes is one such game that is based on virtual world of business and it has provided me knowledge relating to the different matters that are required in the business. The simulation contain different segments that includes allocation of advertisement, control of equity, distribution debt and capacity that is followed by different other areas that has to be considered. The Multi Player has given me the opportunity to work as a team and be cooperative in nature. In the different respective team, the team members were provided with the opportunity to highlight their skills and talents and become the leader within the specific area of the interest of the individuals. The specific project that has been done by me and other team members at Capileo Finance has helped me in growing interest in my own specific area or zone. I have able to improve the decision-making skills and this has helped me in understanding the different views of the team members in my group. Strategy There were different concepts of the particular game that included the increasing the value of the shareholders and it was our duty to check whether the prices are set in an effective manner in comparison to other competitors. The market report had to be compared as this had provided me with understanding of the competitors in the market. The development of the new products had been done, as this will help the respective company in gaining competitive advantage. I had learnt that it was essential in being sure whether the right amount is spent on brand awareness, public relation along with advertising of the company. I have learnt that whether the debts are paid on time along with dividend distribution within the specific period. I understood the steps wherein there is increase in the equity of the company. The different vital components helped in beginning the multiplayer game that we were part off. Multi-Player Experience: With the starting of the second week, my team members along with me were asked to choose an organization of the desire field that will help us in increasing the value of shareholders. This will keep us leader within as well as out the world, that was the multi player world six and it helped us in leading in our class too. The entire competition will not limit to compete with the six teams in the world, but the main challenge is to be leading against the other thirty-eight other organizations. After the entire discussion with the different team members, our team focused on the finance stream wherein our team members will be providing financial services to different individuals along with businesses. The company that has been selected by us was named as Capileo Finance. While moving along with the experience of mine, it is necessary to inform that Capileo Finance is an existing organization with authorization of the government and it helps in rendering different kind of financial services to different individuals. My entire team started with first week of the Multi Player game, however I was clueless that is required to compete with other five other organizations of the same field that has been chosen by us. The main aim was to be ahead of the other competitors and gain success. In the first year, our team was allowed to operate with the company with mountain bike and there were no such involvement of the financial products. In 2017, the value of the shareholders was $12.45 and BiKorp was the only leading company in the world with the highest value of shareholders of $12.78. This has led our company to the third position in the first week as the cumulative value of the shareholders was 13% and the value of shareholders was 15% only. Our team has placed price of $720, as the company chosen by us was the financial rendering organization. The gross sales of our company for the intended year were $18,486,720 and the profit that has been earned by us was $625,393. The total share was around 1 million and the earning per share was $0.625. Furthermore, our team has decided in order to spend a budget of more than $3,600,000 for the expense of advertisement and the budget of PR was around 1.2 million. With the usage of the particular strategy, the awareness of the product was more than 37%. In the second week, the shareholder value was increased in comparison to the previous year; however, there was a new leader in the competitive market named CCTV solution with the value of the shareholders of $16.71. In the starting of the third week, our company was back as the leader in the world and the class ranking of our company was in the seventh position. This helped us in clearly stating that value of the shareholders was the highest and it was due to the small change in the technique of pricing from $720 to $718. In the same year three, we were planning along with discussing to launch new product in the competitive market. In the fourth year, the gross profit that was generated by our company was $53,541,504 and the profit of the company was $5,891,774. In the similar year, our company tried to increase the pricing of the existing product ADV1 to $732. In the same year, we launched a new product Prime Loan that was rated $2,400. The different target customers were about 34,500, our company has managed to gather more 33,472, and it was a huge achievement as we created so many new applications. Furthermore, it can be explained that our company was technically strong in relation to the mountain bikes as it was difficult to frame such decision. The forecast for demand accuracy was more than 93%. As for the new kind of product, we had estimated 11,000; however, we sold 12,100 and achieved the target of the sales. The budget of the advertisement was higher in nature slightly and the budget of PR was increased to more than 4.3 million. Furthermore, for the awareness of brand, our company has spent $1,150,000 that has helped us in giving more than 55% of the awareness. In the following years, our organization has introduced other new product that has named as Debt waiver. The reason for selecting the particular name was that we have gone through different financial articles wherein it was stated that there were more than 77% individuals who were Australian born in the year 1990 or after that are facing different issues related to debt and the average amount of the debts were $10,000. We wanted to design a product that will allow the different individuals to get rid of the existing kind of debt. These kinds of debts had more and high rate of interest if the individuals borrowed that as personal loan or spent with the usage of the credit cards. Our company decided to price the subscription fee for the debts waiver at $380. The sales for the first year of debt waiver were 37,460 that were not expected. After the third year, our company was leading and it was among class ranking in the position four. Throughout the game time that was remaining, we remained as the leader of world 6 and our company secured position 5th in class rank in comparison to other 38 companies. The facts of game are enclosed in the report, as this will provide clear understanding to the readers about the stand. In the entire global ranking, our company stood 111th and this is the biggest achievement in the life. There were 1000 students who are playing the simulation across the entire globe and the global percentile was 99.5%. Important Points Learnt After the Game Play: It helped in building awareness for mountain bike by spending money on different advertisements. It is required to understand which are the different channels of media for achieving the best results It has to establish powerful plan for distribution that covers the targeted market that is aligned with different reports of research for given year It helped in maintaining the capacity of production in order to supply adequate quantity of the different bikes. The entire balance of capacity of production is crucial in nature to focus on the idle time that is low in nature It helped in maintaining the efficiency level to the point of market research. The efficiency level helped us in reducing the operating expenditure and these expenses that may penalizing the factory Conclusion: I thoroughly enjoyed the game and I had learnt different things from Multi Player game. i receives realistic experience that has helped me in understanding strategy that will make the shareholders and customers happy and this helped me in increasing the sales in order to generate profits. The Multi Player has helped me in generating essential decisions in the crucial years and Mikes Bikes business simulation game is the best game to know the different kind of situations in the entire business.