II. Current Situation. Discuss the current situation of your company by performing and analyzing a full SWOT analysis.
a) Strengths: We did not have any overtime in all these eight years, we fairly spend 40 hours a year in training our employees. We made good quality decision on R&D and labor, when we had extra inventory. We understood the customers’ needs, our P/E ratios were very high in the first years, we watched the competition constantly and changed strategies in pricing, age, reliability and ideal position to meet customers’ expectations. We spent a fairly amount of money, in some years, more than our competitors in promotion and sales budget to create product awareness and helped us sell our products, this is one of the reasons why …show more content…
We want to focus on proving the best product for our segment meeting our customers’ expectations, that would give us the opportunity to increase our sales and helps us pay out our debt. We successfully triple our revenue on year 7 and increased our sales on year 8 as well. We also think that our employees are important, which can also be an opportunity for grow as a company, to hire, train, coach our employees and reduce turnover rate, as well as the overtime. I also think automation can helps reduce labor costs, which is an opportunity to take this into consideration to make better decision in the …show more content…
It was a great experience, I think I have learned a lot from it. I feel like each round was helping me and showing me different areas that needed to be taken into consideration at the moment of making decisions. The simulation felt real and it helped me improve my critical thinking skills and problem-solving skills.
• Reflect on your experience performing the Capsim simulation.
I have noticed that my high expectations were not the correct choices at some point, I could have changed my strategy and focus specifically on my clients’ needs and expectations, while trying to reduce R&D costs and labor costs. Capsim was a great tool to help us understand, test and examine our errors and make improvements. I think this course was a great experience as it helped us understand and have a closer look on how it is to make important decisions for our businesses, how every decision we take, could impact our performance not only on a yearly basis, but also on a daily basis. This course also helped us understand the importance of each department and how each department's role can impact positively or negatively on our business, how important is to know our market and make decisions based on the study that we have gathered from our customers and meeting their expectations. Another great key that I learned was the importance of evaluating
a) Strengths: We did not have any overtime in all these eight years, we fairly spend 40 hours a year in training our employees. We made good quality decision on R&D and labor, when we had extra inventory. We understood the customers’ needs, our P/E ratios were very high in the first years, we watched the competition constantly and changed strategies in pricing, age, reliability and ideal position to meet customers’ expectations. We spent a fairly amount of money, in some years, more than our competitors in promotion and sales budget to create product awareness and helped us sell our products, this is one of the reasons why …show more content…
We want to focus on proving the best product for our segment meeting our customers’ expectations, that would give us the opportunity to increase our sales and helps us pay out our debt. We successfully triple our revenue on year 7 and increased our sales on year 8 as well. We also think that our employees are important, which can also be an opportunity for grow as a company, to hire, train, coach our employees and reduce turnover rate, as well as the overtime. I also think automation can helps reduce labor costs, which is an opportunity to take this into consideration to make better decision in the …show more content…
It was a great experience, I think I have learned a lot from it. I feel like each round was helping me and showing me different areas that needed to be taken into consideration at the moment of making decisions. The simulation felt real and it helped me improve my critical thinking skills and problem-solving skills.
• Reflect on your experience performing the Capsim simulation.
I have noticed that my high expectations were not the correct choices at some point, I could have changed my strategy and focus specifically on my clients’ needs and expectations, while trying to reduce R&D costs and labor costs. Capsim was a great tool to help us understand, test and examine our errors and make improvements. I think this course was a great experience as it helped us understand and have a closer look on how it is to make important decisions for our businesses, how every decision we take, could impact our performance not only on a yearly basis, but also on a daily basis. This course also helped us understand the importance of each department and how each department's role can impact positively or negatively on our business, how important is to know our market and make decisions based on the study that we have gathered from our customers and meeting their expectations. Another great key that I learned was the importance of evaluating