This is my login name - nimes001
Login password - hb9hrt9
login to street cat , dont login individual name as mention on nimeshi shashikala.
[email protected] 31 Jul 2018, 09:58 to me Hi Students, A few of you have been asking about the "Offline" button next to your Multi-Player firm. Clicking this will take you to the Offline Mode, which allows you to try out different decision options and strategies before you commit yourself. To start Offline Mode, click the "Offline" button next to the Multi-Player launch button. In Offline Mode, your competitors use only their default decisions. So don't read too much into the results. For instance, in Offline Mode you might launch new products into empty markets and do very well due to lack of competition. But if you use those same decisions in the Multi-Player, you could do poorly if the other firms choose to launch new products at the same time. So always think about what might happen if your competitors were to do something differently. Important: After using Offline Mode, your team's agreed decisions need to be re-entered in the Multi-Player. You may find it helpful to print the current decisions report(s) when in Offline Mode first. To re-enter your decisions, Disconnect from Offline Mode, Login to the Multi-Player, then re-enter all you decisions. Double-check by comparing the current decsions report against the ones you exported or printed in Offline Mode. You can watch our Tutorial Video on the Offline Mode here: https://course.smartsims.com/simulation/how-to-use-offline-mode Please email us at [email protected] if you have any questions. If you are not assigned in a team yet, please email us with the names of your teammates so we can assign you in your Multi-Player firm. Kind regards, The Smartsims Support Team Smartsims Business Simulations www.smartsims.com ******************************************************************* BUS 303 BUSINESS PROJECT BUS 303 BUSINESS PROJECT Individual Reflection Journal 1150 1400 Tomohiro Nishimura 7th February2017 Prepared to: Rex WALSH Tutorial: LA-T2 Contents Findings – How I can apply Mikes Bike in a real business world2 Analytical skills2 Communication skills – Team Work2 Decision Making2 Website and Video3 Learn from each other3 1st Rollover – 04 Dec 2016, 23:59pm (Sun)4 2nd Rollover – 11 Dec 2016, 23:59pm (Sun)6 3rd Rollover – 18 Dec 2016, 23:59pm (Sun)8 4th Rollover – 25 Dec 2016, 23:59pm (Sun)11 5th Rollover – 01 Jan 2017, 23:59pm (Sun)14 6th Rollover – 08 Jan 2017, 23:59pm (Sun)17 7th Rollover – 15 Jan 2017, 23:59pm (Sun)20 8th Rollover – 22 Jan 2017, 23:59pm (Sun) – Final Rollover23 Findings – How I can apply Mikes Bike in a real business world Playing this business simulation – Miles Bike helped me develop necessary skills in a real world. And at the same time, I learned how difficult it is to set up a company and successfully run the business. Although what the players can do in the game is limited compared to the real business world, there were many challenges for me to learn from. Here are some skills that this simulation helped me improve. Analytical skills I think analytical skill is vital in this game. Without this skill, you cannot be successful. Firstly, analysing each index was quite challenging because each index has difference variables so what I had to do first was to analyse what variables affect the particular index such as awareness index that is affected by branding and advertising. And the second thing I worked on in terms of analysis is to determine how much I should invest to increase, for example, PR index to certain level, which I learned by a great deal of trial and error. Of course, in the real world, there is no such things as indexes but there is some alternative information such as financial statements and so on; therefore, improving this skill is quite important for accountants. Furthermore, to critically analyse my own performance is another thing I have learned from this game. The important thing is that you have to always look at the results with a critical eye even if you are at the 1 position in your world or the class. Once you stop critically analysing your performance and satisfied with the results, it means you stop moving forward. But all the successful business people are difference. They are always innovative, creative and seek improvements all the time. Communication skills – Team Work The second skill I have learned from this is communication skills. It was very nice to work with people who have difference cultural background and was challenging to find a way of how I can better adapt and communicate with them. For example, I had to communicate with my group members in the decision making process where we quite often had two different approaches and strategies and it was challenging to come to term with them and seek effective way of conveying my ideas and giving persuasive explanation to them. But as I and the group members started to seek the better way, the communication went smoother. Again, this is essential skill as well in this globalised business world because Australia in particular has such a diverse culture. The important thing is to have an attitude to understand people and their culture, and to work as a team with others. This skill can be definitely applied in any work environment. According to Forbes (2015), the ability to work in a team structure is one of most important skills that employers look for in employees. Here three actions points that I think would be useful to improve my future teamwork. · The first action point would be not to take criticism personally and throw out ego · The second action is to have mutual respect and understand cultural backgrounds of the team members · The third action to communicate and actively share information and ideas and to ensure to have the same level of expectations Decision Making This is one of the most difficult areas in this game. As mentioned above, this is difficult because we had different ideas in approaches and sometimes hard to come to term, which is good thing in terms of critical analysis. But there are more aspects that make it difficult. Another thing is uncertainties becausewe always have to make decisions based on predictions in terms of what the others companies would do, for example, how much they would spend on PR, what are their index targets and what product they would launch. Only way I can reduce the level of uncertainties is to analyse the historical information in depth to the best of my ability and to ask my group members to find shortcomings in my decisions. So in order to make sound and collective decision, analytical skills and communication skills are essential and yet there are still uncertainties. For an accountant, it is important to be able to make informed decision and provide relevant information to directors of a company. Website and Video The last skills that I have obtained and are very useful in the real life. The game itself does not requires these skills, but throughout the subject, these skills were essential to be competitive with the others. Even if this is not compulsory requirement of the course, being able to make websites and videos is one of the essential skills in today’s business because all most all businesses have a website as a platform where they can promote their products or show their company’s profile. I am sure without these platform, a business would not be able to compete and survive. Furthermore, making websites and videos makes you creative. I think creativity is important when it comes to problem-solving because a creative person is able to see things from a different perspective and come up with new ideas, which is again very important as a business owner or even as an accountant. Learn from each other Lastly, one of the most important thing I have learned from this game and the subject is to learn from each other. I am so grateful that I was able to work with so many talented classmates that I can learn from. For example, some classmates have helped me make the websites and the other showed me a number of software to create videos. And also, I have shared my thoughts on the game with many other class mates from different worlds. The benefit of learning from each other is significant and unlimited. It may be sometimes efficient to work on your own as there would be arguments or conflicts while making decisions, but working with others and learning from each other definitely helps me realise things I would not have realised had I not shared ideas, which encourages me to see things more critically and creatively. I am so glad that the subject and the game made me obtain a number of skills and ideas that I am sure will be my assets in my future career. 1st Rollover – 04 Dec 2016, 23:59pm (Sun) Decisions: The price was set at $745 in order to maximise our margin and we expect that the other groups would increase their price rather than decrease. The level of production is determined based on the market information and set at 22,000 in order to achieve more than 20% market share. In terms of awareness, we aim at awareness index of between 32 and 34 on the assumption that the other groups would spend between $1.5 million and $2.5 million in advertising. To ensure that we take advantage in awareness, we set the budge at $3million and the allocation is as below: ( Set the budget for product advertising at $3million ) To determine the allocation in each media, market information was referred to all the time and we have found the formula to forecast awareness index. Using offline mode rollover and formula below, we could estimate the awareness index quite accurately and we are able to maximise awareness index with the mentioned allocation. The amount of investment* % in chart data table* % of Media channel As we have already spent $3million, no budget was allocated to PR. Result: Class Ranking: #10 Ranking in World 2: #2 The result was satisfactory to some extent that our ranking in world 2 is #2 although there is only $0.01 difference from the group ranked at 3rd place – Eagle Bike. However, there are many areas that we need to improve. Our profit after tax was the highest $1,038,626 in the world, which resulted from our efficient allocation of budget on advertising. In other words, we have successfully maximise PAT with minimum expense, especially in advertising. The budget for ad is $3million which is 40% lower than Eagle bike, who spent $4.2million altogether in marketing and yet our SHV and PAT is higher than Eagle bike. As the result, we have the highest amount of cash for the next year - $3,360,041. Having said that, $3million was not sufficient to achieve the highest market share although we forecasted $3million would be highest amount in the world. The price is one of our weaknesses. Our price - $745 unfortunately led to