Round 1 Capsim Assignment
Round 1 is the first round in the Capsim simulation or business games. Round 1 is typical representation of the current industry report as shown in the courier report, and therefore is more of prevailing industry conditions. In round 1, we barely have to do anything as it can be considered as the round zero of the project or simulations. Here the industry conditions have already been set by the tutor, unless otherwise stated. It is therefore important to thoroughly understand the industry report, and analysis from round zero, or the courier report. Round 1 Capsim assignment is usually one of the easiest.
Round 1 Capsim decision segments
There are cvarious segments that are associated with round 1, and to every other round. The major segments in every simulation round are; Research and Development (R&D), Marketing, Production, Human Resource, Finance and Total Quality Management (TQM). This should not worry you in case you get confused along the way, please contact our experts to walk you through the segments.
Capsim Round 1 Decisions per Segment
R&D Round 1 Capsim Assignment
The sole purpose of R&D for this round is to research on a new product or the current products. While R&D may carry out their activities as usual, the major difference from other segments in this round is that they do not have any sales objectives. Therefore, it does not matter whether the team completes development or perfects a product. The only thing that matters is to bring the product as near completion as possible, and leave it for marketing research staff to conduct additional research and market studies if required.
Because R&D are not allowed to carry out sales activities, they are also not allowed to compensate the sales force or any other sales expertise team member. This means that in this round, there will be no sales activities carried out.
Marketing (Sales) Round 1 Capsim Assignment
The sole purpose of the Marketing or Sales team is to represent the product and carry out all sell related tasks. This means, if a product has been completed in R&D by the time the company enters round 1, it can still be sold in round 1. Although, the completion of a product by R&D does not guarantee sales as the marketing team can still fail to conduct market studies and research on whether there is any need for the new product, or how best will it be able to present the product as well as the costs incurred.
As we have already stated earlier, R&D are not allowed to compensate the sales force or any other sales related staff in this round. This means that all compensation will have to come from the marketing team.
It is important to note here, that although we have stated earlier that there are no sales activities, it does not mean there can be no sale of products. If a product has been created and researched by R&D in this round, it can still be sold. But since there are no sales objectives for the marketing team, it is important to note that all sale activities will come at a cost of some other areas like production or finance.
Sales Objectives in Round 1 Capsim Assignment
The sole objective of every marketing or sales team in this round is to sell as many products as possible. The only thing that needs to be looked into here, is the compensation of the sales force or any other sales related activities. This means that a good marketing team with high expertise, will be able to conduct market study and research on whether there are consumers for a new product while at the same time, representing the product in a manner that will ensure top sales figures.
Although it is important to note here that R&D may have products ready for sale, a good marketing team can also delay creating new products until just before it enters round 2 or 3. This allows the company to improve on some of its present products so as to keep the company product range at its maximum.
Human Resource Segment Round 1 Capsim Assignment
In this segment, there are various factors that one has to consider such as the number of employees to use, the labor compensation rates, the number of shifts to work and the turnover rates. Nevertheless, in this round, one of the major factors that must be paid keen attention to is the number of employees made available for the sales force.
It should not worry you if there are less than five or more than ten employees working in your company during round 1 as at any time it can be compensated by finance later. Nevertheless, it is important to understand the nature of each team member’s job so that you can be able to utilize them at their best ability. For example, in this round you will require someone who has accurate data entry skills and that is also very fast at it.
Then there is also a person who needs to have knowledge of user interfaces as he or she will be responsible for operating the computer. There is also a member of your sales team who need to have excellent communication skills which will be required when writing reports and bottling up in an excel sheet all the necessary information for future use.
Here are some tips that you need to put into consideration before hiring any personnel for this round: Know exactly what type of employee is needed for his or her job. You also need to be aware of the salary range that you need to put into consideration before hiring any personnel. And most importantly, it is very important that you hire an employee who has a passion for the job so as to ensure motivation and high productivity rates from everyone in your sales team.
Marketing Objectives Round 1 Capsim Assignment
At the beginning of this article we mentioned how important it is to define what your marketing objectives are. This round, one of our major marketing objective is that we want to sell as much products as possible. In order to achieve this, here are some strategies that you can consider:
It is important to ensure that you advertise your company’s products. This will require your marketing team to conduct some market research using a variety of techniques such as focus group interviews, surveys and other tools that are used for market research. It is also important to understand the marketing mix or the 4 P’s which include: Product, Price, Place and Promotion; this can be done during round 1
Production segment Round 1 Capsim Assignment
In the production segment, one has to take care of the units expected to be produced for sales in the market. In this segment, the automation ratings for the plants and equipment used is determined. The automation and ratings are very important as they help one gauge early production capacity of the machines, equipment and products acquired.
In this round, the most important thing that you are going to encounter is managing your machinery and equipment. As a business owner in Capsim, it is very critical for one to understand that one will have varying levels of automation rates depending on the types of company assets acquired. The types of companies that you acquire determine what level of initial automation rate is given to your machines and equipment.
The following are the types of company assets that you will encounter in the initial production segment:
– Bars, Breweries, Chocolate plants , Coffee plants etc.
– Coal Mine Complexes, Gold Mines , Iron ore mines , Oil fields etc.
Due to the nature of each company asset acquired, you will have varying levels of automation ratings for the machines and equipment. It is very important to understand that each company asset has its unique range of automation rates which include:
– Low rate – This represents when a machine or equipment has lower level of automation, i.e it does not work on its own but must be manually operated by your staff.
– Medium rate – This is the level of automation that is given to machines and equipment which are partially automated, i.e they can work on their own but there will be times when your staff needs to manually operate them.
– High rate – This refers to the level of automation in a machine or equipment where it does most of the work on its own and you do not need your staff to supervise it.
TQM segment in Round 1 Capsim Assignment
In this round, one will be required to monitor and manage various aspects of production. One of the most important things is that you need to determine your quality levels for your products.
The following are some guidelines which can help you in determining what the quality standards should be:
- Priorities – It must be noted that there are three priorities that a company can have for its products. They are as follows:
o First priority – This will refer to those products whose quality standards are very high and you want them to meet the standard. You have to ensure that you put in additional effort in ensuring that they achieve their first priority target; this is because the customers demand these specific product qualities thus making it the most critical of all;
o Second priority – This refers to those products whose quality standards are important yet they are not as crucial as the first priority. In order to ensure that the quality levels for such products, one needs to put in some efforts into ensuring that they meet their second priority target; and
o Lowest Priority – This refers to those products whose quality standards are least important and they are not a priority at all. All the same, one should still try to ensure that they meet their lowest priority targets for such products.
- Quality Focus – Another thing that Capsim players should know is that there are three levels of focus when it comes to product quality. This include:
o Full quality focus – This refers to the level of product quality where one considers all the products that they have on hand as their priority. At this stage, you are only interested in those products whose quality levels meet their first and second priorities; and
o Product Quality Focus – This is the level of Capsim round 1 quality focus where one only considers those products whose quality levels meet their first and second priorities. At this stage, you are interested in the products that have the highest quality levels; and
o No Quality Focus – This is the lowest level of product quality focus where there is no specific type or category of products that you are interested in. In this case, no matter the quality levels of products, one will be willing to purchase all sorts.
- Pricing Strategy – When determining what price range should be for your products, there are some strategies that you can employ in pricing them. They include:
o Lowest prices possible – In this strategy, you will always try and achieve the lowest prices possible to maintain your competitive advantage. The downside to this strategy is that you will not be able to sell as many products as compared to the competition; and
o Highest prices possible – With this strategy, one will always try to achieve the highest prices possible for their products with the aim of being a market leader. While it may seem like a good strategy on paper, the downside to this is that you may not have many customers getting your products.
- Product Quality – When it comes to product quality level, there are some aspects of quality that one should consider. This include:
o Durability and longevity – One of the most important aspects of a product’s quality is whether or not it can last. If the product does not last, one will buy a different product that is more durable and long lasting;
o Reliability – This refers to whether or not the product can be trusted. For example, if you are buying a car and it breaks down frequently, one will always prefer another brand of cars as they know that when they travel in the other brands, they are guaranteed that their car will never break down;
o Easy to maintain – This refers to whether or not the product is easy to maintain. For example, if you buy a fridge and then realize that it costs more than the normal amount of money required in maintaining your fridge, one will always prefer another brand as it means that one will have to spend more money; and
o Quality of service – This refers to the level of customer service that one gets from the company. For example, if it takes you several months before your product reaches you, one will not prefer getting such a product again as they feel that they cannot trust the company providing them with this product.
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