Business Game Indival

Business Research Analyses

Student Name: Mengting ZhangStudent Number: W12027088Words Count: 2900Tutor: Mc Grane,Angela Philip Oilver

Date: 15/01/2015

3. Introduction

3.1 Business Objective At Citadel Company, we focus on developing the elements of green, family, comfortable,

environmentally and safety on the car. Our company are planning to achieve at least 2% of

total market share for both our cars by the end of 4 year, by increasing 0.5% in market share

per year. And we also aim to increase our profit to GBP 300 million by the end of the 4 th year

and sell out all of our cars throughout the 4-year period.

3.2 Summary of company performance Overall, during the 4 years period, we lunched three car models: City Car, Medium Car and

Luxury Car into the European car market. And we were successful in achieving a profit

target of GBP 420 million at the end of year. In order to seize the market share, we

increased our production by 7% from 120,000 in the 1st year to 171,194 in the 4th year. This

makes our total market share increasing from 1% in the 1st year to 1.38% in the 4th year.

Even so, we got increasing average 0.26% in the three years period and a bit go down with

0.09% in the 4th year. This figure is a bit by far to reach our setting goal of 0.5% per year.

Table 1: Summary of company performance

Key Indicators/ Year Round 1 Round 2 Round 3 Round 4

Total Sales (£m) 2052 3189.90 3803.37 3316.09

Total unsold stock (n) _ _ 3838 _

Shareholder funds (£m) 364.41 702.02 1193.97 1614.44

Closing bank balance (£m) 717.03 753.03 893.87 973.24

Outstanding loan (£m) 1300 941.48 564.97 118.03

*Figures show in £m, to nearest £1 million;

4. Company Performance

4.1. Round 1

4.1.1. DecisionsBased on the market research on European Car market provided, in the year 1, we decided

to target to two market segments as follow:

Table 4.1-1: Model of Car in the Round1

Car size Age group Total Market %

City Car(Volus)

25-40 8.9

Medium Car (Asari)

41-55 11.05

The rationale is that those sections have the largest number of customers and they are the

most popular sector in the whole Europe car market recently. As a new entrant, we agreed

that we should be cautious, so that we decided to limit our productions in the first round in

order to seize achieve 1% of market share in City Car and Medium Car.

4.1.2. Forecast and Actual result Table 4.1-2: Round 1 Forecast and Actual results

Round 1

Model

Forecast Actual

City Car

(Volus)

Medium Car

(Asari)

City Car

(Volus)

Medium Car

(Asari)

Production (unit) 72000 48000 72000 48000

Unsold Stock (unit) - - - -

Gross margin (%) 38% 36% 25.36% 31.95%

Market Shares (%) 1% 1% 1.16 1.48

Sales (£m) 2208 2052

Gross profit (£m) 819.61 620.11

Post-tax profit (£m) 221.54 -135.59

Net Cash (£m) 500 717.03

At the end of Round 1, we sold all of our cars and obtained 1.16% and 1.48% of market

share for City Car and Medium Car respectively over we expected. However, we made a

loss because of the cost of investment was high. Also we had to take out a loan to prevent

an overdraft. We are liquid at the end of round1 because of our £1300 million loan.

Figure 4.1-1: Round 1 Forecast and Actual Gross Margin(%)

City Car

Medium Car

0%

5%

10%

15%

20%

25%

30%

35%

40% 36.00% 38.00%

25.96% 31.95%

Forcast Actual

Through compare forecast and actual gross margin, I found that our labor costs per car and

cost of material per car effect on gross margins directly in the first round. If it compare with

another team, we can found that our city cost of car is too higher so that make gross margin

getting down a lot. And for medium car, our cost of car is lowest. However, the actual labor

costs more higher than forecast. Due to these two factors take balance each so that the

actual gross margin on medium did not go down a lot. Thus, although we sold all the cars

but we did not achieved the same gross profit, post-tax profit.

Figure 4.1-2: Round 1 Forecast and Actual Gross profit, Post-tax profit and Net Cash (£m)

Gross profit Post-tax profit Net cash

-200

0

200

400

600

800

1000

819.61

221.54

500

620.11

-135.59

717.03

Forecast Actual

Figure 4.1-3: Production Performance

Productivity Potential Productivity Potential Productivity with Over-time

Asari 42.35 47.71 57.25

Volus 43.64 50.14 60.17

5

15

25

35

45

55

65

From the figure 4.1-3, we can see that potential productivity of Volus and Asari respectively

are 50.14 cars and 47.71 cars per worker per year. This means we can increase our

production or we should reduce our workforce. And our average productivity at the moment

is 42.86 cars per worker per year. This figure shows it is too lower and we can increase that.

Figure 4.1-4: Medium Car Marketing share Figure 4.1-4: City Car Marketing share

Competition Competition

Pacer Citadel

IcarTrans

0.00%

0.50%

1.00%

1.50%

2.00%

1.05%1.48% 1.73%

1.21%

Medium Car Marketing Share Marketing share %

Pacer Citadel

IcarTrans

0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%

0.00%

1.16%

0.00%

1.21%

City Car Marketing Share Marketing share %

Due the competition of marketing share on the medium car and city car in the four

companies, we can continue to invest more on medium car based on the our company

Citadel’s edge on the medium car. And the information of market research, which Medium

car will grow by 7% in the second year, supports this point as well. And iCar hole the most

market share for Medium cars because of that they are cheaper and they made more cars

than us. Thus, we should improve the option of our Medium car or make more car in the next

year.

Furthermore, from the information of company in the next year, TRANS aren’t going for a

new model so they will try to make more cars in the Medium and City car markets this year.

For this reason we might have more competition here next year. We could try and improve

our cars with more options or change our target market but this might be expensive. We

could also make fewer cars with more in the new model category.

4.1.3. Round 2 DecisionsBased on the good sales result in the first round as well as the information on marketing

research, we decide to increase our production to 7% (from 12,000 to 165,611) in order to

seize more market share while the whole market is predicted to rise by 7% on the city car

and 11% on the medium car. Furthermore, a new model (luxury car) would be lunched in the

second round.

We agree that we should reducing the training expenses and invest more in promotion.

Realizing the effect of automations to productivity, we reducing the training expenses and

invest 137 more units of automation and hired extra 1315 workers more for second round.

And we also agreed that we should invest more on promotion cause of new model and

increasing the salary for improves the productivity of worker.

4.2. Round 2

4.2.1. Forecast and Actual result

Round 2

Model

Forecast Actual

City

Car

(Volus)

Medium

Car

(Asari)

Luxury

Car

(Turian)

City Car

(Volus)

Medium

Car

(Asari)

Luxury

Car

(Turian)

Production

(unit)66193 99418 6383 66193 99418 6383

Unsold Stock

(unit)- - - - - -

Gross margin

(%)27% 35% 30% 25.75% 30.81% 29.21%

Market

Shares (%)1.4% 1.9% 1% 1.42% 1.9% 0.96%

Sales (£m) 3173.93 3189.90

Gross profit

(£m)1270.83 939.35

Post-tax

profit (£m)527.72 337.79

Net Cash

(£m)1249.67 753.03

To compare with round 1, our average gross margin is 29.45%, which has marginally less

than last year. However, due to the reducing of labor and training costs and the increasing of

sales it make our profit was increased. And it also related to the new model contributed

significantly. Meanwhile, we got £753.03 million bank balance due to increasing profits.

Figure 4.2-1: Round 2 Forecast and Actual Gross Margin(%)

City Car Medium Car Luxury0%

5%

10%

15%

20%

25%

30%

35%

40%

25.00%

37.00%

30.00%25.75%

30.81% 29.21%

Forcast Actual

From the Figure 4.2-2, we can see that the actual gross margin of city car and luxury car are close to forecast gross margin. Only the gross margin getting a bit down than frocast.

Figure 4.2-2: Round 2 Forecast and Actual Gross profit, Net Profit and Bank Balance (£m)

Gross Profit Net Profit Bank Balance

Round 2 Forecast 1064.24 383.1 717.03

Round 2 Result 939.39 337.79 753.03

£100.00

£300.00

£500.00

£700.00

£900.00

£1,100.00

Comparison of GP, NP and Bank Balance

£mill

ions

Figure 4.2-3 : Round 2 Production Performance

Asari (Medium) Volus (City) Turian (Luxury)

Productivity 77.73 81.62 8.99

Potential Productiv-ity

80.58 84.68 10.74

51525354555657585

ProductivityCa

rs/W

orke

r/Ye

ar

From the production performance in round 2, the productivity of cars is close to full potential

due to appropriate workforce and automation.

Figure 4.2-4 :Competition on market share Figure 4.2-4 :Competition on market share

Pacer Citadel Trans Icar0

0.2

0.4

0.6

0.8

1

1.2

1.4

1.6

City Car Market Share Competition

Car Company

% Ma

rket S

hare

Pacer Citadel Trans Icar0.00

0.50

1.00

1.50

2.00

2.50

Luxury Car Share Market Competition

Car Company

% Ma

rket S

hare

Figure 4.2-5 :Competition on market share

Pacer Citadel Trans Icar0

0.20.40.60.8

11.21.41.61.8

2

Medium Car Market Share Competition

Car Company

% M

arke

t Sha

re

According to the competition of market share in four companies, our company Citadel got

the highest market share in the medium car market share. And we got similar market share

with Trans’s company because of Trans’s has sold out more cars than us. However, the

markets share of Luxury car, which we got lowest. From the report of company competition,

we found that Icar company sold out the most car in the whole luxury car market so that’s

why it got the highest market share.

4.2.2. Decisions of Round 3 Obviously, our company got profit in this year due to reduce labor costs and training costs. In

addition, the new model contributed significantly. So in the third year, our company will slight

reduce training expenses and invest slightly more in promotion. And we will maintain the

existing workforce and increasing salary to £ 486 in-keeping with industry average. On the

other hand, our company will try to reduce our automation by not maintaining all of it.

Moreover, the market will raise form 13.0m to 13.2 cars. The City car market is expected to

grow by around 3%. The medium car market is expected to grow by around 1 %. We

account the budget that 9.25% total market on City car and 10.86% total market on Medium

car in the third year.

Regarding to new model Luxury Car, due to the market research in the third year reported

that the luxury car market is expected to shrink by around 1%. So we cautiously aimed to

obtain 0.2% of the market share and decided to sell at a reasonable price to penetrate the

market.

4.3. Round 3

4.3.1. Forecast and Actual result Round 3

Model

Forecast Actual

City Car

(Volus)

Medium

Car

(Asari)

Luxury

Car

(Turian)

City Car

(Volus)

Medium

Car

(Asari)

Luxury

Car

(Turian)

Production

(unit)78566 110991 8202 75387 110332 8202

Unsold

Stock

(unit)

- - - 3179 659 -

Gross

margin (%)31% 37% 34% 29.03% 32.18% 29.30%

Market

Shares (%)1.4% 2% 1.2% 1.57% 2.08% 1.25%

Sales (£m) 4303.22 3803.37

Gross

profit (£m)1523.75 1181.87

Post-tax

profit (£m)664.00 491.77

Net Cash

(£m)1450.63 893.87

Ending Round 3, we were the only company in the group who did not sold out all of the

products. However, we got the highest market share in the medium car company.

Figure 4.3-1. Compare Forecast and Actual Gross margin (%) for 3 model Round 3


5%

10%

15%

20%

25%

30%

35%

40%

31.00%

37.00%34.00%

29.03%32.18%

29.30%

Forcast Actual

From the company report, the labour cost of medium car and luxury car were £ 256.72 and £

2430.32. However, the forcast of labour coast of medium car and luxury car were £188.83

and £ 2256.71. Thus, the high labour cost is the main reason to make actual gross margin

going down. And Poor human resource management is a key reason for labor cost

increases in a company. Additionally, regulation regarding minimum wage is an external

source of labor costs increases.

Figure 4.3-2. Forecast and Actual Gross profit, Net profit and Bank Balance (£m)

Gross ProfitNet Profit

Bank Balance

0

200

400

600

800

1000

1200

1400

16001523.75

664

1450.63

974.64

420.48

973.24

Forecast Result


City Car Medium Car Luxury Car

Forecast 115.04 113.92 10.73

Result 97.84 94.46 9.98

10

30

50

70

90

110

units

From the competition report said that our company got the highest productivity

(cars/worker/year). However, it is still a bit far away from our forecast. It because of we did

not offer enough salary for workers to improve their productivity.

4.3.2. Decisions of Round 4 Despite the city car market is expected to shrink by around 6%, the medium car market is

expected to shrink by around4% and the luxury car market is expected to shrink by around

12%. And the market size will increase to12.4 million. From the chart in the market research,

we account the budget of growth for city car, medium car and luxury respectively are

37.22%, 20.92% and 4.47%. In addition, costs risen with inflation in the next year so our cost

of sales will be higher if we don’t alter our production down or decrease our workforce.

Overall, we all agree that we produce 64620 targets city cars, 96403 target medium cars and

6663 target luxury. According to the number of cars, we account the 870 workers for city car,

1309 workers for medium car and 621 workers for luxury car. We should just leave

automation as it is as the cost of not maintaining it would be higher potentially.

4.4. Round 4

4.4.1. Forecast and Actual result Round 4

Model

Forecast Actual

City Car

(Volus)

Medium

Car

(Asari)

Luxury

Car

(Turian)

City Car

(Volus)

Medium

Car

(Asari)

Luxury

Car

(Turian)

Production

(unit)64620 96403 6333 67799 97062 6333

Unsold

Stock

(unit)

3179 659 - - - -

Gross

margin (%)26% 30% 28% 26.58% 30.53% 28.69%

Market

Shares (%)0 0 0 1.51% 1.92% 1.10%

Sales (£m) 4303.22 3316.09

Gross

profit (£m)1523.75 974.64

Post-tax

profit (£m)664.00 420.48

Net Cash

(£m)1450.63 973.24

At the end of year，we sold out all of our products as well as the number of unsold cars

previous round and achieved £3316 million of sales as we expected. Our forecasts on gross

margin were just slightly different from actual.

Figure 4.4-1. Forecast and Actual Gross margin Round 4 (%)


24%

25%

26%

27%

28%

29%

30%

31%

26.00%

30.00%

28.00%

26.58%

30.53%

28.69%

Forcast Actual

End of round 4, our gross margin finally got up than forecast. Beacause of reducing the cost

of labour and material.Therefore, it our forecast on gross profit, post-tax profit and net cash

were quite closed to the actual results.

Figure 4.4-2. Forecast and Actual Gross profit, Post-tax profit and Net cash Round 4

Gross Profit Net Profit Bank Balance

Forecast 958.07 307.31 1297.68

Result 974.64 420.48 973.24

100

300

500

700

900

1100

1300

£ M

illio

n

From the figure 4.4-2, we can see that our company got gross profit and net profit close to

the forecast. However, we confuse about that our bank balance should be closed to the

forecast as well.


City Car Medium Car Luxury

Forecast 84.58 80.85 10.74

Result 73.65 74.28 10.2

5

15

25

35

45

55

65

75

85

units

4.5. Over Trend

4.5.1. ProductionIn the four years, our production increased by 7% from 120,000 units to 171,194 units and

sales increased from £2050m to £3316m during four years. We only got a problem with car

sales in round 3 in which 3179 units of city cars and 659 units of medium car model were in

stock.

Figure 4.5-1: Productions and car sold in four years (units)

Round1 Round2 Round3 Round4

120000

171994

197757

170356

120000

171994

193921

171194

0 0

-3838

0

Production Sold Unsold

4.5.2. Market ShareFigure 4.5-2: Market share trend (%)


City Car 0.0116 0.0142 0.0157 0.0151

Meduim Car 0.0148 0.019 0.0208 0.0192

Luxury Car 0 0.0096 0.0125 0.011

0.25%

0.75%

1.25%

1.75%

2.25%

Figure 4.5-3: Total Market share trend (%)


Market share 0.01 0.0132 0.0147 0.0138

0.10%

0.30%

0.50%

0.70%

0.90%

1.10%

1.30%

1.50%

Market share

Axis Title

Average market share steadily increased from 1.00 % to 1.38% during the three years and

has a little bit down at fourth year by 1.47%(see figure 4.5-3). This figure did not achieve the

business objective goal of 2% total market share. And only medium car got 2.08% market

share in the third year (See Figure 4.5-2). However, from the line chart (Figure 4.5-2), we

can see that average whole trend was rising.

4.5.3. Shareholder FundsFigure 4.5-4: Citadel’s Shareholder Funds in four Years (£million)


Shareholders Funds 364.41 702.2 1193.97 1614.44

100

300

500

700

900

1100

1300

1500

1700

Shareholders Funds

£ M

illio

n

During the four years, our shareholder Funds increased from £364.41m to £1614.44m. The

line chart shows that it was rising trend during four years. So it means our company has able

to ear profit over the time and it might be uptrend in the next year (see Figure 4.5-4).

4.5.4. Cash PositionFigure 4.5-5: Cash Position trend (£million)


200

400

600

800

1000

1200

717.03 753.03

893.87973.24

cash position

cash position

Due to the loan of £1300m, which we borrowed at the beginning of year 1, it make our

company has enough current assets to support the business plan. And our Net cash rose

from £717.03m to £ 973.24m smooth and steady during four years. According to this raising

trend, our company might be can return all current liabilities in the future.

4.5.5. Gross marginFigure 4.5-6: Gross Margin for each model in four years (%)


City Car 0.26 0.26 0.2903 0.2658

Medium Car 0.3195 0.3081 0.3218 0.3053

Luxury Car 0 0.2921 0.293 0.2869

3%

8%

13%

18%

23%

28%

33%

Perc

ent

From the Round 1 to Round 4, the gross margin for all cars got highest per cent at third year.

And the entire gross margins were growing smooth and steady during the four years.

Moreover, medium car always hold the highest gross margin in the three types of cars.

4.5.6. Strike Day The number of strike days gradually decline keep 3 days in each round. This reflected our

effort in improving the human resource during the game as we tried to increased wages

annually.

Figure 4.5-7: Strike days in each year

Round1 Round2 Round3 Round4 0

0.5

1

1.5

2

2.5

3

3.5

Number of strike days

Number of strike days

5. Learning

5.1. Financial Management

Financial StatementThorough analyses company performance; I learnt the important of understanding financial

statement in order to assess a business. With the knowledge equipped in class I can

understand the financial statements that provided in each round of Business game. It

contained needed information to helps me identify the key issue in order to make appropriate

decisions.

I also aware the integrated link between Balance Sheet, Income Statement and Cash Flow

in analysing the financial statements. Any alteration in each statement will lead to change in

the others. Costales and Szurovy (1994) proved this when suggest that it is necessary to

consider all the financial statements as a whole while evaluate company performance.

Price StrategeDuring the whole 4 rounds, we did not apply a price strategy for our company. We were too

concerned about sales and productions and managed to sell all the cars. In fact, we did not

have a clear pricing strategy over the game. However, we lucky sold out all the cars and get

profit.

If the game operated again, I would employ an appropriate pricing strategy in order to

increase our profit as much as possible. For example, in the first round, I would apply price-

skimming strategy to quickly get back money spent on research and development. In the

next rounds, along with boosting productions, I would use Average pricing Strategy to avoid

competition and keep the perception of good quality products as they have a strong link to

each other (Smith, 2011).

5.2. Human Resource

Training employeesDuring the 4 Rounds, we keep to reducing training expenses due to increasing automation

Human Resource PlanningIn the game, we considered human resources planning as a part of the business in order to

meet the company’s objective. Smith et al (2006) suggest that the most difficulty of Human

Resource Planning is to bring it together with the company business’s plan in order to

achieve the goal.

However, we did not understand well in the first round so that we just guess how many

workers we need to hire. Obviously, this is the one of the reason to make we got loss in the

first round. And we did not improve the salary of worker too much so that makes strike days

did not goes down. If I could to be manger or doing business in the future, I would initially

take human resources planning as an important part of my business plan.

5.3. Operations Management

Productivity and Quality Automation has significantly influenced to our productivity and product quality even we

did not improve enough wages for each worker. It showed in all four rounds that every time

we decided to change the allocation of automations for each car model, it directly affect to

warranty costs per car (see Appendix 1). This means that, quality increased helped to

reduce costs , therefore increase profit. Raturi and Evans (2005) claim that improving

product quality can bring more profit to organizations through seizing market share and

increase in sales.

Measuring and improving PerformanceDuring the game, we did not apply performance measurement to assess how well our

company in order to improve our performance. As Barnes (2008), measuring performance is

crucial in operation management in order to successfully manage an organization.

Measuring the company performance in each round would help me to identify the strengths

and weaknesses, therefore, to assess the efficiency and compatible of decision-making.

Besides, measuring competitors’ performance, especially, the one who got high

achievement would help us set a good standard.

5.4. Marketing Management

Marketing Research

Based on the information in market research on European car market provided, we decided

to target to the segments in which the customers was the largest and in order to seize 1% of

market share in the first round. In the business game, we did not employ marketing mix very

well (price, product, and place promotion) to improve our marketing strategy. As we see in

the third round, we had a number of unsold cars on the city car and medium car. Even we

are the highest market shares in the city car and medium car compare with another team.

However, I found out that our product had not matched the quality that our customer need or

want.From the fact, I understand that the market is uncertain and decision-making should

not be entirely based on the research; a right decision should consider the personal

experience and knowledge (Peter and Donnelly, 2011).

5.5. Comment on GameThe data on competition should include the information on productions, sold and unsold cars

of all companies, so that, it would easier for us to compare and learn from others. And it

would be more realistic if we could pay discriminate wage for employees who worked in the

different car model, as well as give inventive and rewards to workers in order to increase

productivity and product quality.

5.6. ConclusionThe business game helps me reinforce the knowledge that I had learnt in the four areas

financial, marketing, operations and human resources management. Over the game

process, I had practiced my management skills that are necessary for me as a manger in the

future. Especially, it helps me to perceive the important role of working in a team in order to

achieve the collective goals.

6. Team performance

6.1. Team RolesDue to a person is assigned a suitable role, he would perform better (Adair, 2009) . So that

in the first round we decided to divide the task into three functional areas and allocated to

each team members based on individual’s background and qualifications. However, I came

from design background and never have knowledge of business or management. So that, in

the first round I was mainly responsible for marketing management as I had experiences in

this field from my previous job and tried to find out which part I am good at.

However, in order to assist team members in their individual learning, we agreed that in each

round individual should mainly take responsibility for a different task from the previous round.

Moreover, for each round, we appoint a different team member to record the meeting

minutes and present our decisions in seminar.

Consequently, in the Round 2 and 4, I have the turn to take the role of financial manager and

Operations Manager to share task with Chris and Neal. I felt that by practising finance, I had

strengthened my knowledge in this field and effectively contribute to teamwork. However, at

the same time, I and other team members also occupied another role. We had to manage

multiple tasks and other team members also occupied another role. Adair (2009) suggest

that if a member takes so many roles in a team he or she suffers for tense that affect to

individual’s performance. Thus, if I could participate in the game again, I would like taking

only one role from the beginning to the end rather than taking different tasks at a time. And

in this business game, I found that my interesting on finical department and I would like

developing this part in my future.

6.2. Communication

In CITIADEL company, we aware of the important role of communication in our teamwork.

We have got almost 16 meetings from round 1 to round 4. Everyone tried to contribute him

or herself for teamwork. However, I found that communication was insufficient in our team.

The idea and options mostly came from our each member and we vote to get final decision.

Nevertheless, here was an issue with language as Victoria and Chris urged Maria not to

base her decision on the fact that she understood Neil’s points better, as he communicated

them in Chinese.For example, Neal and Maria hardly spoke out their idea and try to find me

for translate to another group member. And this process makes another two English speaker

feel uncomfortable and misunderstanding.

Our problem might cause by the fact that we was lack of understand individual’s differences.

As play the game again, I would suggest my team members to have some outside activities

together. This would be a good way to improve communication and strengthen the

relationship between team members in order to increase team performance (Syer and

Connolly, 1996).

6.3. Decision Making

In CITIADEL company, we believed that every idea and opinion should be agreed by the

voting of all team members before going to final decisions. And we all Collaijborative

discussion leading to consensus on decisions. However, our time management did not go

very well in the 1st round. This was because in the first round we spent a lot of time to

choosing car and no one really well-understand the finical part of whole business game. And

it made we got short time do research on the finical part and made a loss on that.

During the first two rounds, I also felt that my ideas and opinions have not been listened by

the team. Especially, I used to have different views with another group member in some

areas related to production and option but when we put issues in-group discussion, other

team member trend to avoid conflict with

6.4. Leadership

Initially, we collectively elect Chris whose preferred team role was shapers according to his

Belbin Team Role report. But we decided to have revolving leaders. It means that in every

round, each team member would have chance to take the leading role to conduct the

meeting and present decisions. This would enable individual to develop his/her skills and

leadership through practicing as suggested by Adair (1998).

At the beginning of Round1, actually I cannot understand the whole process of business

game totally and I just follow the task that leader give us to do. However, from the Round 3, I

actively contribute myself to Finance part and help leader to coordinate another team

members. And I also tried to put all ideas and options into discussions and maintain the

democratic environment to ensure that everyone really engage in the teamwork. As a result,

from round 2 to round 4, I received support from the rest of the team for most of my idea that

has affected to our company performance.

Reference

Adair, J. (1998), Leadership Skills. London: The Institute of Personnel Development.

Adair, J. (2009), Effective Teambuilding How to make a winning team. 2nd ed. London: Pan

Books.

Costales, S.B. & Szurovy, G (1994), The guide to Understanding Financial Statements, 2nd

Ed, USA: McGraw-Hill.

Peter, J. P. & Donnelly, J.J. H. (2011) Marketing Management Knowledge and Skills, 10 Ed,

New York: McGraw-Hill.

Raturi, A.S. & Evans, J.R. (2005), Principles of Operations Management, USA: South-

Western.

Smith, B.J., Boroski, J.W. & Davis, G.D. (2006). Human resource planning, Human

Resource Management, (31), 1-2, pp 81-93.

Syer, J. & Connolly, C. (1996), How Teamwork Works The dynamics of effective team

development. London: McGraw-Hill.

Tim J.Smith (2011), Pricing Strategy: Setting Price Levels, Managing Price Discounts, &

Establishing Price Structures, USA: South-Western Cengage Learning.

Documents

Business Game Indival