EXECUTIVE SUMMARY: This study highlighted the strategies that have been used in the business simulation game. Gazillionaire is a popular business simulation game which can help the players to develop business strategies. They can also understand the way the business strategies can be executed in real businesses. The effectiveness of the strategies have been also discussed in this study. Lastly, a self-reflection about the learning outcomes from the game has been provided.
INTRODUCTION.. Gazillionaire is a business simulation game which was released in the year 1994 ("Save 25% on Gazillionaire on Steam", 2020). This game has the option of playing as single player or can be played in a group ("Gazillionaire - Business Simulation Games Best Money Financial Sims", 2020). The strategy is to increase the business profits by managing and selling the properties on the planets. The player who will be able to achieve the top position in the marketplace will be the winner.
GAME OUTLINE This game requires selecting a spaceship which would take the players to the planets. Then, each player wait for their turn after the completion of the activity of the other player. In this way, the focus is to buy and sell the properties effectively. Through this game, players become aware of the techniques of trading with the dealers which are the aliens in this game. This game also helps the players to be aware of the process of gaining competitive advantage.
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STRATEGIES TO BE USED.. The first strategy is to buy a cost-effective and efficient spaceship to reach the planets. Then, the next strategy will be to identify the suitable properties which can be brought The properties need to be selected as per their demand in the market of the planets. Then, the focus needs to be on managing the properties effectively. This would help in selling the properties to the alient at higher price than competitors.
EFFECTIVENESS OF THE STRATEGIES: These strategies can help the players to understand the factors which can help in gaining competitive advantage. These strategies can also help in understanding the processes by which profits can be increased (Lin, Wen & Wang, 2018). This would help them to increase their position in the marketplace. It would be possible to manage the profits along with repaying the loans The factors behind difference in the pricing can be identified.
THE COMPETITORS… There are total 6 competitors The competitors of this simulation game are: 1.Gizzy shipping 2.Puffer Inc. 3.Trading Corp. IV 4.Roke Transport 5.Vandergriff Ltd 6.Hoff Meister
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STRATEGIES THAT HAVE BEEN USED.. A spaceship was bought which could accommodate 8 players. Then, after reaching the planet, each player waited for their turn after the completion of the activity of the other player. Loans were taken in order to buy properties in the other planets. Strategies were made to fill up the stocks so that the properties could be maintained effectively Insurance agents were selected in accordance with the available stock amounts.
DETAILS OF THE OPERATION… Design-specific approach has been implemented A reasonable approach has been developed The focus has been to increase the capital amount The attributes of profits and losses have been identified as well. The dimensions of business relationship have been analyzed and applied. This helped in completing the process of trading successfully.
SELF-REFLECTION From this game, it has been possible to identify the techniques of effective trading successfully. This game has helped me realize the importance of resource management and demand based profit making interventions. The standard qualities of business management have been identified through this game. A practical knowledge about business management has been gained through this game.
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CONCLUSIONS.. This business simulation game has been extremely effective on learning about business management. Some important strategies have been developed regarding the process of playing the game. The strategies have been based on the methods of trading with the aliens. The strategies on competitive advantages in this game have been also developed.
REFERENCES.. Gazillionaire - Business Simulation Games Best Money Financial Sims. (2020). Retrieved 19 January 2020, fromhttp://www.gazillionaire.com/index.php Lin, H. H., Yen, W. C., & Wang, Y. S. (2018). Investigating the effect of learning method and motivation on learning performance in a business simulation system context: An experimental study.Computers & Education,127, 30-40. Save 25% on Gazillionaire on Steam. (2020). Retrieved 19 January 2020, from https://store.steampowered.com/app/1169100/Gazilli onaire/