The Business Strategy Game (BSG) is an educational simulation that enables managers to build an effective business operation. The game involves making strategic decisions that increase profit while reducing expenses. It also involves balancing the use of advertising dollars and boosting market share. Finally, it involves fetching the highest price for products. During the game, players should also note down the net profit they achieved and compare it to other values.
This game allows managers to learn collaboration skills and teamwork. Teams that work together to reach their goals will be more effective than those who don't. The members of a team must complement each other so that the whole unit becomes a stronger asset than the parts separately. This synergy is key to success, and it can only be achieved by fitting together like a well-oiled machine.
Business strategy should be communicated to all levels of the organisation in an easily understandable language. Business strategy games help build understanding and commitment, thereby ensuring successful implementation. They also help develop the decision-making skills of employees and help align the company's objectives with its strategic direction. This game is a great way to build consensus and get everyone in the organisation on the same page.
Business Strategy Game Help students learn business concepts by incorporating real-world examples and simulated data. The game teaches students how to create innovative strategies and address real-world business issues. For example, they will learn how to build brand loyalty and design a unique pricing strategy for their product. They will also learn how to analyze different business elements and choose the best strategies to maximize profits.
The Business Strategy Game allows players to manage their company for 10 years. During this time, players will need to download competitive intelligence reports, industry reports, and company reports. They will also need to make decisions with their co-managers to change their strategy for the next year. Ultimately, they'll need to make decisions to satisfy the expectations of shareholders.
Business Strategy Game involves students working as a team in a highly competitive business environment. Each member of the team must be exceptional at their role. This helps students develop their collaboration skills and prepares them for their dream job. Students must also motivate each other to work effectively and update their knowledge of emerging trends. Further, this simulation helps instructors make accurate assessments of student knowledge.
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