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Page 1: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb
Page 2: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

I listen, I forget.I see, I remember.I do, I understand.

Old Chinese Proverb

Page 3: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Business simulations are a form of combative training where participants pit their business skills against those of formidable opponents under the watchful eye of a training coach.

Page 4: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Please tell mewhat it is?

It’s a snake.

It’s atree trunk.

It’s a sheetof rawhide. It’s a steel

tube.

When we study one discipline at a time, we are like a bunch of blind people trying to understand what an elephant is.

Page 5: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

It is anenterprise!

Accounting

Production

Marketing

Distribution

Finance

HumanResources

With business simulations, you can crawl all over and under the new venture to help you to see and understand the whole thing.

Page 6: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Joyce Russellteam work, human resources

Harry Bruceleadership, governance

Jim Reeveaccounting, profit analysis

Sarah Gardial & Bob Woodruffcustomer value

Jim Wansleyfinance

Ernie Cadottemarketing

Ken Gilbertproduction processes

Ivan Slimakbrand design, quality processes

Tom Mentzersupply chain

Dominique Garvalbusiness strategy

Page 7: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Participants learn about all aspects of business by managing a simulated business.

The Marketplace Live scenario follows the lifecycle of a new product and new business.

Business decisions are introduced as they become relevant in the evolution of the company.

Page 8: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Live and breathe strategic planning and management in a rapidly changing environment.

Develop leadership, teamwork and interpersonal skills.

Promote better decision making by learning to manage a totally integrated company, including the management of sales outlets, marketing, production, and human and financial resources.

Page 9: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Crystallize the financial implications of business decisions and how they flowto bottom-line performance.

Facilitate learning of important business concepts, principles and ways of thinking.

Page 10: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Discover how important it is to use market data and competitive signals to adjust the strategic plan and more tightly focus business tactics.

Page 11: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Build confidence through knowledge and experience.

Page 12: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Teams are placed in a entrepreneurial scenario - starting up and running a new business venture.The opposition is played out by competing teams.

Page 13: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

opponent

Market opponent

opponent

Business Team

Page 14: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Each team member assumes a tactical area of responsibility:

Marketing // Finance // DistributionProduction // Overall Leadership

Page 15: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Business team receives information on current situation.Current situation is evaluated, strategy formulated and tactics

set in place.Tactical decisions are fed into the Marketplace Live simulator,

along with decisions of opponents.Results of decisions are fed back to business team.

Page 16: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

The business team can acquire information on what is happening in the marketplace: – customer reaction to market

decisions– competitor actions

Current situation is evaluated, strategy formulated, and tactics set in place.

Tactical decisions are again fed into the Marketplace Live simulator.

Page 17: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

You and your business partners have decided to enter the international microcomputer industry. The microcomputer industry is in its introductory stage of the product life cycle.

Several other international new venture firms are entering the market at the same time.

Page 18: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb
Page 19: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb
Page 20: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Q1: Organize the team, name the company, analyze market information, establish strategic direction and set up shop (design brands open a sales office and/or international web center, and build a factory).

Q2: Test-market brands, prices, ad copies, media campaigns, sales staffing, and internet tactics. Determine compensation package for employees and production schedule for each brand.

Page 21: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Q3: Study end user feedback, competitive tactics, employee productivity, factory operations, and financial performance and adjust strategy.

Page 22: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Q4: Perform a comprehensive strategic analysis and prepare a business plan. Present strategic analysis, business plan, and financial request to venture capitalists.

Q4 – Q6: Initiate international roll-out campaign.

Page 23: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

End of Game - Prepare report to the Board regarding: • performance since presentation

of Business Plan• deviations from plan• justification for departures• strategic analysis of

current situation• plan for future

Page 24: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

The initial capitalization is $4M which is being invested by the executive team over the first 3 quarters; $2M in Q1 and $1M in Q2 and Q3.

The executive team owns 100% of the company.Forty thousand shares of stock will be issued to the executive team

in exchange for their $4M. The initial stock value is $100/share.

Page 25: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

At the start of Q4, the executive team will have the opportunity to request up to $4M from venture capitalists. The venture capitalists will expect a strategic plan for the second year in business, including:

strategic analysis of the current situation strategy: goals // priorities // strategic thrusts tactical plan: geographic expansion // R&D

plant expansion // etc.pro forma financial statements through Q6

Page 26: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

The bank will extend a line of credit to the executive team equal to one and a half times the firm's equity position in the previous quarter.

The bank is highly risk adverse and will call in your loan in part or whole if your debt capacity declines due to unusual or extended losses.

Page 27: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

The bank is intolerant of poor financial management.

If a firm ends a quarter with a negative cash position, the bank will contact a loan shark by the name of Guido to obtain an emergency loan to cover the firm's checking account.

Page 28: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Guido requires repayment in the next quarter.

The emergency loan interest rate is a sliding scale which begins at 10% per quarter and may go as high as 25% per quarter.

For each $100 which Guido places in your checking account, he will take one share of stock in your firm.

The issuing of stock to Guido causes a dilution of your stock value and your share of the company.

Page 29: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

A firm is technically bankrupt if its cumulative losses exceed its equity investment.

Bankruptcy occurs when the sum of retained earnings and the common and preferred stock is a negative number.

Stated differently, the management has used up all of the equity of the firm when the negative value of the retained earnings exceeds the value of the common stock.

Page 30: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

Strategic thinking and tactical executionBalanced Scorecard for quarters 3 through 6

Executive Briefings // Business Plan // Report to Board How well the company is prepared for the future

Page 31: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb
Page 32: I listen, I forget. I see, I remember. I do, I understand. Old Chinese Proverb

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