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A Feet Away Company, RCA 9-01

Lessons Learnt From BSG

    6.1 Lesson 1

Management process is very important and act as key to make operation effectiveness which can out compete with competitors. We should decide which segment of customer we target, minimize the cost of production and focus on market where seems to be the most responding in demand and do not rely solely on the next year’s projected performance.

    6.2 Lesson 2

We hard learn to make business decisions in practice and train our business judgment that will affect the business in future.

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Footpal Company, RCA 06-01

Lessons Learnt From BSG

6.1. A careless mistake will bring huge impact
6.1.1. Footpal Company has incurred huge losses due to a careless decision in year 19. We are not matching our S/Q rating with what the private label is required. The consequence is we have failed to get any bid in private label and Footpal Company almost bankrupt at that time. In real world, a small mistake will bring a huge impact to the company. In conclusion, we must always be careful when we are making any important decision in the future.

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Je Suis Chaussures Company, RCA 10-03

Lessons Learnt From BSG

6.1. Every Decision Involves Trade-offs!

6.1.1. When an economic decision is made, there is always opportunity cost involved.

6.1.2. For instances, the decision that you might want to increase company’s credit rating by issuing shares to repay all outstanding loans, and consequently your earning per share and return on equity would be drop due to stock dilution.

6.1.3. I learnt that, since nothing is perfect, as an entrepreneur, we should determine which is the best option while making decision to give up the second best alternative.

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Bird Bird Company, RCA 10-02

6.1 Cost of Ignorance
6.1.1 If you ignore the action done by your competitor,you might paid unbearable price in future.
6.1.2 This is the story about Bird Bird company and it’s industry. In year 11, we decided to choose the risky path and build capacity in LA. Due to the high financing cost and lack of knowledge and experience causes bad overall performance for year 11 and 12.
6.1.3 In year 13, analyse the competitors and adjusting our strategy and that’s where our company strike back.

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A Walk to Remember Company, RCA 01-02

6.1. Greed is a Killer

6.1.1. Greed can be a great factor of motivation but only to certain extent. Greed is good provided that it coupled with ambition. Greed can be a killer if without ambition. Instead of being greedy, people should learn to take and give in every situation including business. The best example is that we wanted to get high market shares in all the 3 segments for our company forgetting the saying of ‘take and give’. Realizing that it was a mistake for being greedy and hence, we only focus on what we want to achieve instead.

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G-SIX COMPANY RCA 06-04

6.1. Observation and strategy
6.1.1. Through this BSG online game and assignment the lesson we had learn is to observe the condition of competitors that same field regarding their price, model of shoes available, and include what strategy they apply in their business. After the observation, we had learnt how to amend or set our strategy to competing among competitors to suite the industry environment.

6.2. Make accurate decision
6.2.1. In this BSG online game, we leant how to try to make accurate decision in every decision we had make.

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Fun Run Company, RCA 06-02

6.1 Management Process

The management process include planning, organizing, directing and controlling our business by decision making strategically. We have to plan the product of our company, targeting market segment, market entries and minimize the cost of production by using the most efficient way. We have learned to make decision according to the competitive market position and assume the actions will be taken by the competitors in the following years. We changed our industry and competitive conditions, seek the ways to secure a competitive advantage, decision evaluation and regulate the strategic plan by solving some business issues that arising in the business game.

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I-STEPS Company , RCA 09-03

6.1 We should bid the celebrity in the earlier stage

6.1.1 If we bid celebrity in the early stage, the price to bid the celebrity will be lower than the next following years.
6.1.2 This is because we can see that the other company are not really aware of putting effort and much money on the celebrity that they bid on the earlier stage.
6.1.3 Meanwhile, it means that we can bids the celebrities with a cheaper price in the earlier stage, most probably before Year 15.

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FootStep, RCA 04-05

6.1. Do not be taken lightly when making the decisions.
The business decisions made is the survival tools for the company in the business environment, the life and death of the company is rely on the decisions implement to the company. Once the decisions are not making cautiously, the company may suffer loss in short term and may collapse in the long run. The qualification of the management must strictly control, otherwise the company may lead into troubles.

6.2. Refer back to the historical document
Refer back to the historical document such as the financial summary and performance benchmark as well as the market snapshot to justify which decision is wiser while making strategic decisions, the decisions made in the previous year will always giving the best guidance to the decision maker to make the better one.

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I DONT KNOW, RCA 09-04

6.1. Caution and analysis on every detail
6.1.1. Ever since we didn’t not analysis more on those thing we don’t understand in BSG, just a decision change, our company from a high level position just drop to last.
6.1.2. BSG teach us that we have to be caution with every little detail that is in the game and be analysis, question about it why and how this happen.
6.1.3. This can even apply to our everyday life, example buying stuff from electrical shop.

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