Business > CAPSTONE SIMULATION > CAPSIM Simulation | Ferries Team Simulation Report (All)

CAPSIM Simulation | Ferries Team Simulation Report

Document Content and Description Below

Ferries Team Simulation Report Introduction The purpose of the business simulation is to engage students in a dynamic competition to turn struggling companies into successful and profitable enter ... prises. While working on simulation, students focus on different business elements. The whole performance is based on a strategy that students use while taking decisions, and they have to take many decisions according to situation analysis. By working in teams, participants in Capsim's business simulations enhance their business knowledge and judgment by making decisions that shape a company's future one that needs a clear path to fulfill consumer expectations and boost its financial performance. Our company, ferries, has to compete with four other companies engaged in the sensor industry in five different segments. We completed eight rounds, and, in every round, we used a year-end report to build a product portfolio and managing cost. In this paper, we are explaining the experience and learnings of working on Capsim business simulation. We would like to use Gibbs's reflective cycle to reflect upon our business simulation journey across the semester. 3 Practice Round 1 (Selection of Strategy) Description: In our first class, we were introduced to Capsim software. This application is an outstanding practice for MBA students to experience how businesses make decisions and make strategies to do well. For working on Capsim, we created a group of five members, and then we planned to create an account, and once everyone opened their account, we had a lot of discussions. Since any of our team members did not use this software before, we were struggling to familiarize themselves with this new software. For working on Capsim, we choose Ferries; after selecting the company, we come to know about departments Research and development, Marketing, Production, and Finance. For taking decisions for a practice round, we closely followed the "ideal criteria" provided in the capsim guide for updating our sensors. Digby wanted to focus more on low- and high-tech areas. As per the learning, we choose a differentiation strategy. While implementing this strategy, we increased the area of present segments. Due to this, we made a huge focus on Feat rather than focusing on each element. As everyone in our team was scared to take the decision and nobody was sure about which strategy will work and which will not work. [Show More]

Last updated: 3 years ago

Preview 1 out of 89 pages

Buy Now

Instant download

We Accept: