I will talk about the Celebrity Endorsements page later. On this screen, you can handle your financial decisions for your company. 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. Hi. The best part is that, after it is in place for 3 or more rounds of play, the effects become almost irreversible. However, with a reasonable price. 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. Like I explained in my blog post, do everything that is necessary to increase and maximize your net profits. If you find capacity available for purchase, I would always directly purchase it. I will just adjust it first and see what happens, thanks a lot:). 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). You might think that using green footwear materials or using recycled boxing / packaging is a good decision, especially with the currently ongoing environmental debates. I recommend building additional 1,000 capacity for the North American plant in the first year, if your cash balance allows it. Aim for a higher credit rating of B+ or above. We will now look at all the decisions you have to make to actually play the game and be successful with your strategy. Personally, I would do a higher SQ to start things out while you are building capacity to match the low quality-high model approach. Its not too late to do that yet. If you bid on multiple celebrities, it is good to set a ranking priority and a spending cap so that you do not spend more money than you want or have available. Could you win the Business Strategy Game against a bunch of 5th graders? Anyhow, recalling that I could find no helpful information about the game when I looked, I decided to put together a manual that would be helpful to future students of the game. First, set your Number of Models to 50, as determined earlier at the Sales Forecast page. Hello, thanks for the great strategy, it is working (1st place) ! It sometimes works. 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. Play the game multiple times and try to refine your strategies and entrepreneurial skills with each attempt. How and when to buy celebrity endorsements at the BSG-Online. You can do this by paying off your loans at the earliest possible time. As already mentioned earlier, not every decision has to make sense. 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? You possible might decrease your net profits with this, but it is definitely worth it and will pay off in the long-run. My friend and I walk through the simulation on how it works. Download Magic Year 11 Secrets Revealed NOW. While those two values do not change your S/Q rating, they will change your net profits. The celebrity endorsement will work well only if it is boosted by aggressive advertising. In my opinion, I believe the other teams are thinking on exploit the private label. Economic Impact of Hurricane Harvey and Hurricane Irma, Temporary Oil Price Changes Hold Back Consumer Spending. However, when pricing your shoes, keep in mind to set the price at least $5 below the wholesale price average. I would like to ask you about the Dividends. What should I do for year 12 and 13? I'm back with this updated video full of helpful tips so you can tackle the. This is your new, more precise regional wholesale sales volume. You cannot afford to followsimple techniques and fail! Can you tell us more about the strategy you had ? I promise you my techniques and tips are fully replicable and have kept me theundefeatedall theseYears! Help, hints, tips, and strategy for The Business Strategy Game (Thompson & Stappenbeck) which will greatly improve your game performance. . In Y12, I paid early payment 12,000k at 8.5% and continued borrowing 70,000k at 4.5% for 5-year). Like I already said in my previous post, the most important thing is to toggle each and every value and pay close attention to your net profits. One option that you definitely want to purchase is Option C. Option C increases your S/Q rating by 1 star. Displaying corporate citizenship in a responsible and socially acceptable manner for not less than 4 years. I daily (thank you, Hootsuite, for making it so easy!) Your competitors are most likely looking for this information too. 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. Hence, find the combination that gives you the highest profit. You basically determine and run the market. After you are done, move on the left side and do the same for your internet sales. This will save you money in the long run and at the same time boost your credit rating positively. As I played the game, I discovered that I could use some fairly simple math to massively increase my game score. It almost worked TOO WELL. Two of the most important things to do here are analyzing your competition and optimizing your values. Your interest rates depend on your credit rating and the duration of your loan. As I keep reading online about different strategies to win, there are some postings that are aligned with the strategy of low quantity of models offered at a high quality and keep increasing capacity. These are some of the tips you can use to win the business strategy game. I still think its a waste to build a plant there, unless youre selling tons of shoes (high models, mid SQ). 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. In this multiplayer business simulation game, Virtonomics players must strategically build their virtual companies to become successful Virtonomics entrepreneurs. Thats the highest achievement you can attain. Pay attention to the plant upgrade options as well. Does it hurt any other factors? 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. Weve solved EVERYTHING for you. Yes, I am talking about the www.bsg-online.com for 2023. You are almost done for the Sales Forecast decision page. This Reddit is dedicated to help undergraduate and graduate students excel at the McGraw-Hill Business Strategy Game or BSG-Online. The guide features my original model that provides explanation on strategic positioning in BSG which was developed specifically to expose competitors strengths weaknesses at a glance. In any Business Strategy Game, including BizMAP, you will not get it 'right' in the first attempt. Focus on Net Profit, ROE (very important), Credit Rating, Image Rating is quite easy to control and also Stock Prices. 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. This is my personal procedure that has led me to become Grand Champion and nothing on the web can compare to my precision perspective of BSG. It is important to toggle your values and find the best combination to maximize your net profit. I will walk you through each page chronologically. Same for your superior material. Hence, keep track of the industrys internet price and how it changes. While being in every market is a goal of a successful multinational company. This is where consumers get the best quality of footwear at the lowest possible price, therefore ensuring value for their money. If you have your AP price set to e.g. You need this capacity for the private-label market. If it is 0%, that is fine as well, do not worry about it. For long term celebrity contracts and endorsement, bid for them in the early stages of the simulation. Thank you so much for your reply! You will also receive a copy of Currency Made Simple. What is this Currency Made Easy! But do whatever is necessary to maximize your profits. So I run into problem again! . The rule of the game is to compete with the other students' teams to stay ahead to gain a competitive advantage over other teams. update them with tips and food for thought from the paid guide. Hi! Chances are it would be a piece of cake right? 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. 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. I have encountered two successful strategies so far: medium-quality shoes (S/Q rating of 5-6 stars) paired with high number of models (250-350 models) and high-quality shoes (S/Q rating of 8-10 stars) paired with low number of models (50 models). Here are factors to be considered before picking a celebrity. This enhances the marketing efforts for the brand. I usually go ahead and plug in whole dollar amounts for the wholesale price and see how net profit changes. Then, just like you did before, plug in different values for your internet price and see, which price yields the highest net profit. After you have calculated your new regional wholesale sales volume, add the regional internet sales volume to it. At the same time, youll generate significant amounts of income from the hardest market to extract revenues from. Advantage of this is, that you dont have to pay too much attention to your competitors. . Hi, thanks for the great strategy! BSGTips.com is a proven guide (written by a Business Strategy Game Grand Champion) on how to win, not just how to play. In this blog post, I will run you through everything important that you have to know about the BSG and how to win it. Thanks! However, I would recommend not taking out any loan if possible. It will be very helpful for us and will be very grateful Do you still have your upload reports of all your years ? But I found ZERO helpful information online. Here, you will decide for how much your shoe is going to sell. I guarantee or your money back (with a 100% success rate so far) you'll win the game with the purchase of the guide. But this year the shipping is too high from AP to LA so I cannot make any money from LA. How would you like to acquire every secret I have about the Business Strategy Game? This decision page is mainly a waste of money and we will not spend a lot of time with this page. Market share is not crucial for your success in the BSG, but profit is. The celebrity should also be compatible with the product, for instance, a football player would be ideal for a sports shoe endorsement. Repurchasing stock will boost both your EPS and ROE. 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. or A-P plant. You might agree to disagree in the process but each member should always be given a clear avenue to express their thoughts that are based on their research. Do not worry about your market share percentage or any other value than your net profit. Here, you will plug in your previously calculated regional total sales volume for each region. It will give you some immediate tips you can implement to start off on the right foot or begin turning things around. construction cost to be financed with debt. 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. With increased competition, prices tend to decrease. Should I decrease the pay dividends and do stock repurchase in Y13? This has been very useful. I did not forget it, but we will take a look at it later. It has not only won recognition and awards from top gaming media such as IGN and PC Gamer, but also from world-leading media including CNN and Discovery Channel. 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. Do I need to change another setting on another page for this to remain positive? After a couple of decision rounds, you will get a feeling for it and it will become easier, no worries. I would always encourage you to bid on available celebrities. It is definitely around 1.2 though and I recommend starting off with this value. Learn tips & tricks, from a BSG Grand Master! Business Strategy Game player with a career stretching back to 2006 and throughmultiple versions of BSG. This will enable you to tap into the different unique abilities of each of the members thus strengthening your team. However, you can successfully apply most of the following tips to either strategy. If I have further questions do you mind I ask you for help? You will have secret access to private areas of the site and get to ask questions with my personal expert replies. Five years ago, I was sitting in a similar situation as you. With our strategy, you might want to think about getting Option A as well. Which wholesale are you referring to? 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. 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. And Im so thankful for your post!!!!!!!! So do you mean although we sell exactly same shoes it does not matter even my rivals price is lower than mine so long as i can maximize my profit? The only thing you wont get is Magic Year 11 Secrets Revealed.Dont Wait! However, it is not necessary and Option C is definitely more effective. One week they might increase, the other they might increase by just a little or even decrease. After you read the free Business Strategy Game Tips Guide, I recommend checking our Twitter, Facebook, and YouTube channels. You will also receive a copy of Currency Made Simple. 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). The accumulated knowledge I have over the Business Strategy Game is on an unrivaled scale. I was a poor undergraduate college student, too, at one point, and I understand your unwillingness to pay for an additional book. Use of my strategy creates a landslide effect that, as you can see, is very devastating to all opponents. So, why not win the Business Strategy Game and stop your worrying. The information is these guides is laid out, and displayed, in such a way . Im not talking about theory and how to play; Im talking about a proven system that helped me become Business Strategy Game Grand Champion. Taking up stock offering is a cheaper alternative to loans in case of an expansion, but caution should be practised as this move might lead to a drop in the cost of the EPS. So, should I decrease pay dividends here to $0.15? Especially with our high quality and low models strategy, this will be very beneficial and will safe you some money. Hi, youre welcome. $50.66 but $50.67 gives you higher profits, go for the higher prices. The demand depends on your retails, price and quality. 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! Is this guide guaranteed to make me win? Switch between different advertising budgets to see which strategy will be the most cost-effective to capture the target market at the best price. Be careful: Sometimes, especially for advertising, numbers that are way off (for example $100 and $8,000) can yield about the same net profit with only a little difference. Regardless of your scenario,having BSG Tips in your corner is like having an 800 lb. is it because I need to add capacity? 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 . And then I would just follow my tips and adjust all other values to maximize profits. To do so, first plug in your N.A. On BSGTips, we have an email service and forum to handle any support issues you may have. 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. Always keep that in mind when formulating your strategies and leave room for adjustment where necessary. It is all about trying out all possible combinations. You want to setEthics Training / Enforcement to All Employees and Workforce Diversity Program to Yes. Weve heard countless horror stories of students not taking the BSG seriously and failing the course as a result. The BSG Ultimate Solution isTHE ONLYGUARANTEEDone-way ticket to winning the BSG. Concerning changing others values, I recommend reading my initial post where I have explained everything in detail. Looking at the North America column, you now have to plug in your values for Wholesale Price, S/Q Rating, Models Available, etc. Optimizing your values is the essence of the game, even though it might be very time-consuming. like should I just follow your tips through all because I kind of get on a bad start. 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. So the question is: would you recommend for my team to still increase capacity despite this fact? Emerging on top of this simulation can be quite a challenge. I only ever paid attention to my profits and I never ever sold capacity. Currently, were selling 150 models. First, click on the Adjust Competitive Intensity button that can be found on the top middle of the page. 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 . 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. You have successfully adjusted to your competitors. 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. The end result counts. After you have calculated the manufacturing volume for each region, add up your N.A. When you sign up for BSG Tips, youre not alone. 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. Business Strategy Game Tips - . Do the same for your E-A and A-P volumes and plug them into the A-P manufacturing slot. I dont understand why it did this as this capacity was unused and there was upside to having it as my production was max out for the demand. In the last section of the Plant Capacity / Upgrades decision page, you can construct a new plant in either of the two regions where you do not have a plant yet or you can build additional capacity to your N.A. Some business simulation games actually put you in the position of a business owner, but others have varying storylines or themes that let players hone these skills in . No spam ever. Hi. This is actually typical of almost every single Business Strategy Game Industry, as it takes only 1 greedy person to get the ball rolling. Emerging on top of this simulation can be quite a challenge. 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. Theguide will show you how to make your company lean and agile to cope with the industrys marketplace. In the first years, the estimate of the industry average might be a little off the +2%. 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. Setting up a successful business requires time, money, a lot of hard work . Global Top Performers Purchasing capacity is 20% cheaper than building new capacity on your own. What I like about my strategy is that you do not necessarily have to keep an eye on your competitors. So having understood what the image rating of a company is based upon, how can you improve it? With the high-quality shoes + low model strategy, the only thing you care about is your PROFIT. The FREE BLOGcovers topics like. I would definitely increase your S/Q rating to 8* and lower your models to 50 (this should be the lowest you can go if I remember correctly). However, to be able to do so, you need available capacity. Before you even start plugging in any numbers, it is important that you decide for a strategy to pursue for the game. I personally would not bid higher than $5,000 $6,000. Make year 11 EASY on yourself and learn how the game is played. I just have a quick question. Now, I am worried about the future rounds. 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. Apply the following tips to reduce some of the costs. Unused capacity kills your numbers and profits! Oh, how I wish I had known all this before I began playing. It will be, trust me. Be in it for the long haul A business strategy game is an exercise that requires critical thinking and problem-solving skills, similar to what an entrepreneur may use while running their daily operations. If you really need money, I would rather advise you to issue some of your stock. How important is image? The C.I.R on the other hand will give you a deeper look into market share, S/Q ratings as well as price. Im playing the new version of the game, and your guide has worked perfectly for the first two years! Is there a strategy that will always win? Here, you are treated like a star. You said that the internet price should be 40% above wholesale. Please post any information pertaining to: strategies, tips, final presentations, case studies, quizzes, etc. Helped me get to the second place! More than often they drone on and on about BSG, to the point, its barely relevant toimpress you with abunch of words. Im glad I was able to help and good luck to you! 4. NEVER do this. I am a Business Strategy Game Grand Champion. If you found your highest value for the best net profit, move on to the next value and do the same. Strategy and Execution is your shield and sword for Conquering the Industry. Aim to dominate at least a quarter of the market share in every geographical area of your companys operations.
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