The Best BSG game final report writing Guide
- August 19, 2022
- Posted by: admin
- Category: BSG Guides
The Best BSG Game Final report writing Guide
In order to better understand your approaches, factors that influenced your decisions, key learning points, and what you learnt from playing the business strategy game simulation, you will be required to compile a detailed report that explains in detail, all the strategic decisions based on data driven insights, what your shortcomings were, and what you would improve given a chance. The report gives you a chance to take stock of all those happenings.
In this article, you will learn what you need to include in the report as well as a sample report of a footwear company to help you familiarize and get comfortable with writing such a report.
The following key components go into the making of your report:
- Introduction. Here you will write one or two paragraphs that give context to the global footwear industry in the business world. It introduces the reader to what content to expect from your report.
- Vision and mission statements, and a brief statement of your company’s objectives. A vision and mission statement explains the reason for your company’s being as well as gives internal direction on what should be done to attain your business objectives and goals.
- Situation analysis
- Macroeconomic and environmental analysis. You will use the PESTEL format to explain the various factors that have a direct and indirect impact on the running of a business.
- The footwear industry and sector analysis
- Internal analysis
- Marketing strategy implementation. In this area, you will focus on your product, the marketing promotions, the customers (people), as well as the processes of your business. Another important area that you will cover in this area deals with the design and quality issues such as TQM, and also the style features of your footwear. Lastly, there are issues of celebrity endorsement and brand management that you will have to report on.
- Performance analysis. This section deals with how the company was able to fare during the entire simulation and some of the things you had to do to get a competitive advantage. This includes a measure of your financial performance as well as the overall company performance. Some of the key benchmark points that you will use to gauge your performance in this area are
- Credit rating. Ideally, you should aim for a B+ and above.
- EPS growth. This should be at a rate of at least 7% annually.
- The average return on equity per year.
- At least 70 image rating points.
- Stock prices increase.
- Corporate social responsibility and citizenship. This includes actions such as best workers’ practices and compensation.
- Recommendations for future strategic decisions. This area requires you to analyze all the activities and practices and report on what you plan to do in the future. It may be different. You will examine all the sectors of the company, such as your company culture, your cohesion as a team, your strategies that worked, and the ones that did not work. After that, you will come up with some of the recommendations and suggestions that you feel will be ideal for the future of the company.
Now that you have a basic understanding of the guide and the content that you will use to write your report, let us look at a sample report below.
A sample of a business strategy game report
The Business strategy game simulation is a virtual learning game that allows participants to participate in the active running of a footwear company. All the conditions mimic the real-world business arena. The teams are supposed to come up with strategic decisions backed by evidence that will enable them to compete with the other teams in a bid to win the game. This report analyses the performance of the Edgy footwear company. The report is divided into sections that will break down into; the vision, the company’s competitive strategy, industry and company overview, the company’s yearly decisions, reflection, strategic decisions, key learning points, and finally a conclusion.
Vision and Mission
By providing high-quality shoes that meet and surpass customer expectations, by tapping into the best technology and human resources, and by creating high value for money for all our stakeholders, we seek to revolutionize the athletic footwear market.
In order to gain a competitive advantage in the industry and command a sizeable market share, Edgy Footwear Company has employed a number of different strategies that are implemented in the running of the company. They include the differentiation strategy with an interest in cost leadership, differentiation, and focus.
The Edgy footwear company set out to maintain low manufacturing costs so that it could compete with rival companies on the basis of providing the best price and increasing the margins for the net profit.
The low-cost strategy is important for gaining market share in the geographic region where the company operates. The competitive advantage here is that by setting prices that are so low, those other companies are forced to exit the market.
This strategy sets the company apart by providing unique features, among other factors that set the company apart from other manufacturers. The company does this by keeping a higher S/Q rating than the industry average and offering a variety of different styles and designs for the shoes produced. Buyers who value these high-quality features as well as the ability to choose from a variety of designs and styles, do not, therefore, mind paying the premium price for these shoes. This boosts the overall net profit and the company is able to control the market share.
The company focuses on dominating a particular market niche and growing the market share in that sector. For example, by paying particular attention to the private label market and the internet market, the company gains an advantage over rival companies. In the cost focus, the company looks to beat the rivals in terms of cost, for example by setting lower wholesale prices than the other companies.
Through the PESTEL model, we can examine the factors that have a direct and indirect impact on the operations of a business. These are
The four geographic regions in which The Edge is in operation enjoy a calm and stable political environment that is suitable for the growth of the business. So far, there has not been any instability or hostility towards the business. Factors such as trade barriers, high tariffs, unfavorable labor laws, and high export rates have not been an issue for the Edge company’s performance.
There are several economic factors that affect the operations of a business. Inflation rates, the economic standing of the population where the business is located, exchange rates, and high competition from rival companies are some of the factors that the Edge company faces in its quest to compete favorably in different regions. One of the ways that the company can tap into the positive economic factors such as significant economic growth in particular regions is by capitalizing on the growing spending capacity of such a population and thus growing the market share and the net profit.
People are becoming more aware of the kinds of products that they consume and how they are produced. Factors such as corporate social responsibility, programs like the workforce diversity program, employee payments, and remuneration have a big impact on how people respond to and receive the company’s products and services. This provides an opportunity to tap into the market of socially conscious consumers. Another positive factor that the company can tap into is the growing middle and upper class, which offers a lucrative market for high-end products.
With the rapid advancement in technology, this is an area that has a significant impact on how a business conducts itself. For example, the advent of internet marketing offers instant access to a large pool of customers in the internet market who use it for online shopping. One of the company’s missions and strategies was to build brand recognition in this area and increase retailer support in order to increase the net revenue of the company.
When setting up policies for the running of the company, the company has to consider some of the implications that the environment will have on its operations. Climate issues such as weather changes have an impact on issues such as deliveries and delivery times. So when mapping out strategy plans, The Edge Company looked into the environmental factors that would either promote or derail its sustainability efforts.
The legal environment has an impact on the operations of a country. These factors have the opportunity to favor the business or be detrimental to it. Factors such as employment and labor laws of a country, the level of taxation, and access to the market are some of the factors that can determine whether a company does business in that country or not. For the Edge company, these factors played a role in determining the location of the plants, whether to factor in market expansion in those countries, and the number of retail outlets carrying the brand in a particular country, among other factors.
The company used Porter’s model to ascertain the company’s competitive intensity and appeal. These forces are
- The threat of new entrants. As the market grows, new entrants enter the scene, and this inevitably leads to diminishing profits in the market. This can be caused when there are no checks and balances, such as government policies, to prevent such an incident. The Edge company is aware of this issue and therefore puts in place strategic programs to enhance customer loyalty in order to maintain access to the market.
- Supplier power. When the suppliers are many, it means that the company can acquire the raw materials at a lower cost as compared to when there are few suppliers in the market who are in control and have the ability to drive up the cost of raw materials, which inevitably leads to expensive raw materials for the company.
- Buyers’ bargaining power. In a market that offers numerous choices, open and free access, and a variety of options to customers, consumers have the power to determine the prices and loyalty to the brand. In order to appease the customers, The Edge company provides an environment where the customers’ needs and values are appreciated.
- Competitive rivalry. While the market is flooded with rival competitors, The Edge company focuses on its mission to deliver quality shoes using innovative measures to make sure that the company’s model of operation is sustainable in the long run.
- The threat of substitute products. The Edge company offers high-quality footwear that will make it stand out against companies that offer substitute products that might cause customers to switch loyalty from the brand.
Our company’s strategy (years 11–16)
The Edge company is a company that deals in the manufacture and sales of athletic footwear. It has operations in four geographic regions across the globe, namely, Asia-Pacific, Latin America, Europe-Africa, and North America.
In the Asia-Pacific region, the company enjoys a relatively low cost in terms of production because of readily available and affordable labor. The region also takes part in a lot of sports-related activities such as soccer, which makes them an ideal market for the shoes. In North America and Europe, there is an emphasis on a healthy lifestyle in the form of taking part in active sports or lifestyle activities such as running or working out indoors or outdoors. There are also a number of occupations that use these shoes in their line of work, such as nurses and doctors. In addition to this, sports shoes are becoming the footwear of choice for everyday individuals, either for fashionable wear or for their comfortability, leisure, or laid-back look. This provides a good opportunity to market sports shoes. In Africa, the high youth population interested in sports and athletics activities offers a conducive market for the shoes.
For wholesale marketing, we went overboard in trying to capture the market share. While we were able to increase the S/Q ratings by spending a lot on quality-added programs and initiatives, which in turn led us to capture this market, we struggled with cash flow because of the low return on our investment and the low prices that did next to nothing on the profit margins.
Private label market.
In order to capture this market share, we had to invest in the quality of our shoes and boost the S/Q ratings, which we were able to do by 45%. We did this by paying more attention to the TQM initiatives, such as enhancing best work practices and using a higher quality mix of materials, at a cost that was low and that would allow the company to enjoy a high-profit margin. Raised S/Q ratings also increased our bidding chances for this market, which we did early in order to gain access to this lucrative market. These efforts proved to pay off, and we were able to establish this market as our stronghold.
The decision made by the company enabled it to achieve some gains, such as an increased score in the image rating, but a failure in other key areas, such as meeting investor expectations by increasing the earnings per share or stock price.
The company’s strategy (years 16–20)
In order to boost employee productivity, the company invested in automation processes as well as increased employee wages in comparison to the previous years. The automation meant that the number of workers was significantly reduced, but that the overall quality and production were improved.
The company tapped heavily into the internet market by aggressively advertising and offering incentives such as reduced shipping periods and delivering the shoes in a period of under 3 weeks from the time they are ordered. The company also cut shipping costs to attract an increasing number of online shoppers.
The company was able to tap into the available labor and the friendly economic policies in the Asia-Pacific region to increase the plant capacity in that region. This means that the company was able to meet the private-label and wholesale demand for the shoes.
The company boosted the retailers’ efforts in selling by providing them with additional in-store support, such as providing information on the different shoe styles and lowering the amount of time for shipping, so the stores have continuous stock and they do not run out of shoes. The company also lowered the wholesale prices for the retailers so that they could benefit from a reasonable profit margin. This action proved fruitful as many retailers were drawn to these partnerships, and North America was able to increase the number of retail stores carrying the brand by 27% in a period of two years.
To properly manage the inventory and avoid stocking up on old inventory that leads to an increase in storage fees and a reduced S/Q rating that would negatively impact the company’s financial standing as well as performance, the company offered high discounts to offset the stock.
The TQM initiatives paid off because the employees were taught proper workmanship techniques that led to a reduced rate of shoe rejects that were eating into the profits.
The other important decision that the company made was to boost the confidence of the investors by paying dividends on time. The company also met the investor obligations by improving the credit rating and increasing the earnings per share as well as the stock, which increased at a rate of 7.5% annually.
The company’s image rating grew to 70, the credit rating grew to A, and the image rating reached 70 for the first time in 3 years.
The Edge Company was able to gain a substantive market share in the four geographic regions where it is in operation because of the differentiation strategy that it used. As for Year 15, the company was the leader in retail coverage in two of the regions. In order to boost and increase control in the other regions, the company has decided to ramp up campaigns to increase brand awareness in the athletic footwear market through aggressive marketing and by doing more research on the celebrity appeal in those regions. It is also going to keep high retailer support by providing assistance to outlets carrying the company brand.
Key Learning Points
While running the simulation as co-managers, we observed the importance of working together cohesively to achieve our goals. Communication skills were highly valuable in working together as a team. We appreciated the different skill sets that each member brought to the team.
In terms of strategy, it is important to come up with solutions that are backed by data and logic. When selecting the differentiation strategic plan, we went through the company intelligence reports as well as the footwear industry reports so that we could get a better look at the implications of the decisions we were making. While they are not 100% foolproof, they provide a great sense of direction.
We learned that it is important to meet investor expectations as this has a direct impact on the image of the company and has a direct ripple effect on the operations of the company as well as the company’s performance, such as issues to do with stock prices and the prices of shares. Therefore, one of the most important companies’ mission is to make sure those expectations are met.
When coming up with the company analysis, PESTEL is a great way to break down the environmental factors that will play a role in the business. This is a great way to get an industry overview on the negative and positive external factors that can lead to the growth of a company or possibly hinder the positive growth of the company. This keeps you one step ahead and enables you to plan for these impacts in the coming years that the company will be in operation.
In this business environment where managers are forced to make multiple decisions that touch on the various facets and sectors of the business, internal factors such as employees, production factors such as how to and where to source footwear materials, and how to meet all the stakeholders’ demands, it is important to note where to get all the right and data-backed information that supports the decisions that will have an impact on the business.
In order for a company to be successful, it is important for the internal organization, such as the co-managers, to work in harmony with one another in line with the set mission and vision, right from the planning to the execution of the strategic plans that have been set by the company. This management cohesion will ensure that all the members have a key goal in mind as well as the anticipated outcomes.
In the business strategy game, individuals and teams need to realize that much of the work is learned along the journey. This is true and also applies to business strategies as well. Upon realizing that some strategies are performing poorly or coming at a cost to the company, it is important for the team members to come up with a different strategic plan that will achieve the desired results.
Finally, all the team members should do extensive research on the different plans and not be shy to air out their different opinions as long as they are backed by data and strong evidence.
As this sample report shows, there are a lot of elements that go into crafting a well-detailed report. Since a report is a detailed and personal account of what happened in your company as you ran the business in a business strategy game simulation, take note of all the key learnings, strategies as well as the decisions that led to those results, and document them bit by bit, step by step, and then compile them in the final report. This process of documentation will not only make the work a little easier and more manageable for you, but it will also help you get a wholesome point of view on what worked and what did not work and what you can learn from the failures and the successes that you were able to achieve.
The lessons you learn from the compilation of the BSG report are important because you will be able to translate them into a real-life setting and determine the cost of your successes or the ripple effect of your shortcomings.
Do not forget to include the bibliography in your report at the end of it. You can also Get help in writing you BSG Final Report by clicking the following Link BSG Final Report Writing Help