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Product pricing and strategies
Product pricing and strategies
Product pricing and strategies
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Alyssa Roberts
The Ultimate Game Simulation
Introduction of the Simulation Game
Get ready to participate in an exciting hands-on activity that will allow you to gain essential knowledge on how a business operates! The activities you are about to take part in will allow you to learn important business concepts through realistic experiences. The ERP simulation game is an advanced “learning-by-doing” approach and it will also provide you the opportunity to develop your ERP skills. In this continuous-time simulation, all participants are placed in a situation in which they have to operate a firm on the SAP ERP and effectively interact with the other departments in order to make a profit. It will greatly benefit those students majoring in business and management. The skills gained through the SAP simulation game could possibly lead to future career opportunities! The simulation game is very popular and continues to be successful in business schools and for training in companies.
Interplay among Pricing, Inventory, Advertising, and Financial Statements
To begin, there are four categories to be split up among your team: pricing, inventory, advertising and financial statements. These four categories are all connected. Once you play the game and begin to learn patterns, you’ll understand that pricing is one of the most important parts of making a profit. In addition to being really important, pricing ultimately becomes a determinant in how fast or slow your inventory will go. To start, your prices should be high rather than low. If you make your prices low, the inventory will sell out almost immediately and the game will basically be over for you. It makes sense to want to sell the most inventory, but the goal is to sell your inventory ov...
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... the market, producing goods and keeping track of sales. The game is very fast-paced therefore each team member must fully understand their role and be organized in that role. If your team can continuously improve it will lead to better organization. A team’s organization can make all the difference in the end.
Conclusions
Playing the SAP simulation game is a great way to learn how to efficiently run a business. Through it a person can understand the real world concepts of interdisciplinary integration. The simulation game enables students to understand strategies and concepts that take place at real companies daily. It also enables students to solve practical problems in a realistic training environment. Effective communication, organization and collaboration of team members is all it takes to gain an understanding of the game and come up with the winning strategy!
Gaspare Traversi created his oil on canvas painting, Quarrel over a Board Game, in 1752. As the title states, the painting’s focus is on two gentlemen quarreling over a game of what appears to be checkers. This painting is currently being exhibited at the Wadsworth Atheneum in Hartford, CT. The painting is not large. It is 4 by 5 ft. in a gold patterned frame. The painting is placed on a wall in a brightly lighted room at a viewer’s eye level.
Being presented with the problems in the implementation of the SAP ERP system, it is evident that Novartis Pharmaceuticals requires a comprehensive action plan that resolves key issues and the underlying problem. Refer to Exhibit A for a graphical representation of the action plan.
SAP is a leader when it comes to easy integration among all the departments. It provides industry specific solutions for different industries other than its basic SAP modules. A Module is a sub section of the ERP program. Many different modules can be purchased for business specific applications and industry specific solutions as well. Some of the most important sub modules in SAP are Finance, Controlling, Sales & Distribution, Material Management and Human resource. Depending upon the organization needs, a client can buy whatever modules needed.
“The team is faced with creating cohesion and unity, differentiating roles, identifying expectations for members, and enhancing commitment. Providing supportive feedback and fostering commitment to a vision are needed from the team leaders (Developing Management Skills).” ... ... middle of paper ... ...
I really enjoyed the simulation. On the simulation day, I have a chance to strengthen the team-player skills. Although I sometimes still lack confidence to speak up due to my English skill, I believed I have improved my confidence in some level. As I can notice that I am more willing to share the ideas on the activities in this class than the previous classes. Moreover, I have learned from this simulation that it is not necessary to have only one correct choice for the ideas. Different people have different ideas depending on their perspective. Therefore, there could be many solutions for a problem, but to select the best choice; we need to consider many factors and the majority opinions. The simulation also allows me to understand how the real organizations work. It is impossible to efficiently manage the organizations without understanding the four frames.
Whether they be first-person shooters like Call of Duty, sports games like Madden or Fifa, racing games like Forza or Mariokart, or even games and apps on your phones, there are quite a bit of gamers in here. According to the Entertainment Software Association, about 59% of American play some sort of video game, so gaming isn’t all that uncommon (Entertainment Software Association, 2014). As such, there must be some sort of effect on the audience of this growing form of entertainment.
In a team-oriented setting, everyone contributes to how well the group succeeds overall. You work with fellow members of the group to complete the work that needs to be done. Having the right people in the correct roles is an important factor in measuring the success of a team, where you are united with the other members to complete the main goals. Every group is made up of definite strengths and weaknesses. Our team's 3-5 major strengths necessary to work accordingly consist of Informer, Summarizer, Orienter, Piggy-Backer, and Encourager. One of our strengths as a team is that we get input from everyone involved. Every member of our team is a leader in some way. Part of being a good leader is knowing how important it is to receive the best ideas from each member of their team. We attend group meetings where we discuss any challenges, issues, and problems. At these meetings, we often exchange ideas or brainstorm new ones with each other and come up with the best and most creative team solutions as potential answers to those perceived problems.
The components of a good team should be considered. First, a high-performance team must have strong core values to guide attitudes and behavior consistent with the team's purpose. The members should know why the team is created and why he or she is on the team. Secondly, a team should have specific performance objectives. Members should know exactly what they are trying to accomplish. This also includes having standards for measuring results and ways of obtaining performance feedback. A good team will make members realize the importance of collective efforts. Third, a high-performance team has the right mix of skills. These involve technical, interpersonal, decision-making, and problem-solving skills. No one needs to know how to do it all, but each member should be able to contribute to the group....
Good team cohesion will increase chances of successfully completing the goal with high performance. The team will trust each other and support. This would make work faster and more effective.
Teams are a major source of companies in these coming years. Teams are Heroes (Collins, 2009-08-27). Everyone wants to be a hero, therefore we need to build, follow, and be effective team members and effective team leaders.
Why do we form teams? The goal of a team is to be able to do something together that could not be done alone. In this big, international, world of business and life we do, in fact, need teams. We need to work together to do all that we truly cannot do alone. Yet, knowing that we need teams is only the first step of many. Everyone has some experience being on a team, but few of us are experts who have done extensive research. A byproduct of this is that there are many common myths that abound about teams. These include misconceptions related to varied topics such as: what makes a team, how to run a team effectively, general attitudes about teamwork, its (teamwork’s) value to business and even its very nature.
Organization is the function of assembling and coordinating human, financial, physical, informational and other resources needed to achieve goals. Without this function, my business would have folded in the first week. I have midlevel managers to gather together my employees, and discuss the plans for the week. Specific shoe styles must be displayed and organized in a certain order. Information must be disseminated to our marketing team so they know who we are targeting and what steps to take to increase our visibility and productivity. Organizing is not something just one person can do alone. For this function to work, it will take the entire team to pull together for us to triumphant.
Video games are electronic sports which involves user interface and user interactivity. They generate a visual response which helps to provide excitement and entertainment. Video games are played on computers, televisions, or any kind of device with a display screen. People play video games for fun and also because some games are more productive and useful. With growth in technology video games have become very popular in children. Those games can be informative and a brain-builder for children but at the same time it may be so violent that they not only become the reason for the children to be destructive but also vigorously increase anti-social behavior.
A team is a group of people with a full set of complementary skills required to complete a project. Team members work toward a common goal. A team becomes more than just a collection of people when a strong sense of mutual commitment creates synergy, thus generating performance greater than the sum of the performance of its individual members. Team members not only need clear goals, they needs roles to help facilitate
Many businesses place an emphasis on the importance of teamwork. A good team consists of people with different skills, abilities and characters. A successful team is able to blend these differences together to enable the organisation to achieve its desired objectives.