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Lion briefing
- 1. Lion Business Challenge Introduction & Briefing 1
- 2. What is the Business Challenge? • Simulation of the business world • Process to run a diverse manufacturing and trading operation • Opportunity to develop a variety of business skills
- 3. Your Objectives? • Run a complete business enterprise • Maximise Profits over trading periods • but…manage resources within cash flow constraints • Gain commercial awareness (without the risk) • Ensure all facets of your business are run well
- 4. How does it work? 6. AWAIT RESULTS & REPEAT 2-5 1. FORMULATE TEAMS UNDERSTAND SCENARIO FAMILIARISE PARTICIPANTS MATERIAL 3. MAKE DECISIONS Pricing & Marketing Production Consultancy Transport & Warehousing Contracts Cash Management 4. LOGIN TO SECURE SERVER 2. MEET TO PLAN STRATEGY 5. LOAD DECISION & SAVE DECISION FORM
- 5. What decisions are needed? • Pricing • Marketing • Production • Consultants • Transport • Warehousing • Finance • Contracts • Cashflow
- 6. What is your strategy? • The Warehouse/The Reject Shop • Cheap, Cheap, Cheap • High Volume Needed for Profit • Bunnings • Perceived Value for $ • Mixed Bag Pricing • BMW • High Price • Lower Volume
- 7. Key Issues • Pricing • Marketing • Production • Cash Management
- 8. Secondary Issues • Contracts • Transport • Consultants • Storage • Investments/Loans
- 9. Time Requirements • Each of your 6 decisions will take approx 1 ½ hours • Decision deadlines will be weekly on Thursday at 8.00pm(NZT)/6.00pm(Syd Time) • Late decisions will NOT be accepted • Processing can take several hours, so results will be available at 1pm (NZT) on Friday
- 10. Teams • Divided into teams of 3 • Teams are generally made up from different divisions of the organisation • One game where all 5 teams compete against each other.
- 11. Let’s look at your Game • Scenario • Management Reports • Economic Conditions Notice – Pricing/Acquisitions • Decision Form • Participant Manual
- 12. Key Elements • Profitability • Reasonably Good profit so far ($242,778). Focus on raising revenue • Production • Capacity OK currently, but watch increased demand (47,000 vs. 23,497 sold) • Markets • New Aus/USA markets to enter, when you get approval • Transportation • Capacity OK, but watch increased demand (15,000 units) • Cash • Moderate resources available (cash $639,032 debtors $578,178, loan $763,972)
- 14. Business Challenge Website • Player Login: thebusinesschallenge.nz • Situation Overview • Decision Form • Save • Time Out • Business News • Summary Report
- 15. Where to from here… • Get your teams together (either remotely or face to face) & formulate the strategy/direction for your company. • Start making your decision • Look at your margins • Future prospects (supply requirements) • Pricing/Production… everything will flow from here. • 1st Decision is the toughest. From here it gets easier & easier. • 1st Decision due Thursday 23rd before 8.00pm • Any assistance required… just ask. • Email: enquiries@businesschallenge.co.nz