With the rent and insurance payment out of the way, we hope that the income will jump up during the next set of results to bump us up to our competition. You will pay a fee. I know once our group work begins I should be careful with that and the advertisement, that cost me big : So yes, I plan to continue my reports once my group work begins next week. If you didn't buy the insurance, you had to pay for a new espresso machine. Under the newsletter tab, you can view the other cafe's menu. Now knowing how customer awareness works, I think we should have added general awareness newspaper ads sooner until awareness is maxed. This quiz is a large part of our individual grade, so I figured I'd post this to help others or myself later on.
We stuck with our supplier. We went with higher price, high quality and maximize customer satisfaction. Customer satisfaction is important to compare to the average. Awareness does not degrade over time. In each decision period you will be asked to make 6 decisions two in management, two in marketing, and two in operations.
Within this stimulation, groups will be made within my class and each of us will be making decisions in running of own cafe. So you want to order close to the right amount, but ordering too much is much more expensive then too little. This is under the 'Labor tab', this also shows the number of employees per shop, combined with other information this is helpful. In our simulation we had competition out sell us by a lot of cups, but we made so much more per cup we stayed ahead in cumulative revenue and dominated in retained earnings. Coupons are not worth it until this is very high, then the might be worth it to steal customers from other shops but I did not find them worth the investment. I might try a little bit on Saturday? For the first time all game, we came in first in cups sold.
Again, we ended up using 40 lbs of coffee, selling 1,258 units in total. Thank you for your help. Buy cups in max bulk to help lower cost. You can search online for BizCafe Simulation. The end result: better learning.
With our simulation, we set the price of a medium cup of coffee to 3. There's no point in buying branded cups in bulk if it's the last round of the game. There were things that happened in other versions of the simulation that didn't happen in ours, so I can't comment on them. You will advance at your own pace through 10 actual decision periods after the practice session. Only worth it if there's enough time left. Before you 'launch the simulation', you can 'view the results.
The prepares students for the workforce and increases by giving participants real-world skills, experience and genuine confidence. Seems like there could be valuable stuff in there, though I managed to ascertain what makes customers satisfied without it. You will each be playing as an individual not as a member of a team, and you will be playing in the benchmark mode against the computer rather than competitively against other students in the class. Commonly used in senior management and strategy courses, as a capstone to business qualifications and in corporate training courses. Keep in mind each tier of quality you increase your coffee only changes your cost by about six cents per medium cup. Special Decision: Insurance The special decision for period one was if we would purchase insurance.
Through this environment, students understand business strategy and management concepts at a deeper level, while creating memorable learning experiences. I purchased 40 lbs of coffee and 10,000 medium cups with my logo on them. In order to provide you with a realistic hands-on opportunity to manage a business, the BizCafe simulation will be used. Before starting the group work, each person was required to take the stimulation quiz. Run as the word file requires and get the results. It was the first time in our simulation that a shop came in first in cups sold, revenue, and net income in the same week.
Our conclusions of period one seemed to go fairly well. They were happy about that. If you buy to little, it only cost you and extra dollar per pound. My satisfaction rate went up 30% which I can't tell if that's good or what. A word about strategy, the two main approaches are, lower cost with higher volume and higher cost with greater product differentiation.