goal which is specific, measurable, attainable, realistic and timely. The issue of efficiency arose multiple times since because we had a specific budget to work with. Soon we had to use a S.W.O.T. analysis to determine exactly what our strengths, weaknesses, opportunities, and threats. We determined that some of our strengths were also our weaknesses like the fact that we had the most team members and we had a lot of diverse ideas. Which I strongly believe might be the reason we won the simulation. We were able to group-think so we were constantly on the same page otherwise we would be dealing with devil’s advocates.
Halfway through the simulation we came across some competition. This was a double edge sword since it was very frustrating because it would provide an obstacle to winning, but at the same time we were pushed to perform even better. It definitely assures that Capitalism works.
One necessity that we could not have performed as well without is the performance feedback that the simulation provided for us. It depicts whether the exchange of information involving both performance expected and performance exhibited are met. Otherwise we would not know whether or not we were making the right decisions. It was a great tool to find the amount of coffee we had to purchase weekly or the degree of customer …show more content…
We had to find the perfect price so that it would attract consumers. Nowadays consumers are constantly informed since they are technologically advanced. That is precisely why we made ourselves known since the beginning through radio ads and deals like buy-one-get-one cup for free.
Another issue that arose was what do we do with the final profits. We decided that we need to grow as a company a lot more. Once again we made an internal and external analysis. That means that externally, we could potentially become a huge competitor for similar stores and they could attempt to buy us out. Also internally, when we grow we do not want to be in the same college town or else we will be cannibalizing our business and splitting our customers.
In the end it comes down to the fact that this BizCafe simulation is a great tool to use. It is a great place to practice all of these themes of the role of a manager, the importance marketing and operations, accounting analyses, being most efficiency, dealing with competition, creating and going through with S.M.A.R.T. goals, groupthink, performance feedback, and knowing how to deal with profits and