Strategic Management Simulation Game Report - MGT306

This report analyzes a simulation game, Gazillionaire, used to understand business operations and strategic management principles. The report details the group's strategies, decision-making processes, and market positions over several weeks. It covers profits, losses, loans, and operational details, including screenshots and meeting minutes. The assignment required the group to develop initial strategies, adapt them based on market conditions, and reflect on the learning experience. The report highlights the importance of market analysis, financial management, and group collaboration in achieving business success within the simulation. The student's self-reflection is also included, which emphasizes the practical learning opportunities and the development of business management skills through the simulation.

ASSIGNMENT 2 – SIMULATION
GAME REPORT AND PRESENTATION Unit: MGT306 –
Strategic Management

INTRODUCTION
The simulation game Gazillionaire is based on real business operations.
It explains different processes of business management.
A group oriented playing interface improves interactions and
relativeness across business management process.
Useful to obtain relevant skills and attributes for business studenmts
and professionals.
Undertaking self-assessment measures (Brauner & Ziefle, 2016)

STRATEGIES
The ship selected for this business
operation was cerebralis.
High fuel and cargo capacity for
this ship is a major factor for its
selection.
Accomplish better profits for
each of the transactions done
(Dick & Akbulut, 2017).
To stimulate a more dedicated and
organized form of approach for
doing business
Making a well-judged decision

CONTD…
Consistency across risk attribute
An entity is to be purchased from one planet and sold on another
planet.
Difference between pricing is the prospect profit
Constant risk of a loss or availability of an unsold inventory
More authentic and organized learning process

COMPETITORS IN GAME
Gizzy shipping
Puffer inc
Roke transport
Trading corp. IV
Hoff meister
Vandergriff Ltd.

GAME COMPETITION
Keeping a track of its spending and its relevance in concern with
the market demand.
Demand based investment
Sustainable usage of resources due to its scarce availability
More specific and market oriented purchases
Travel and search for the potential markets

DECISION MAKING
Combined decision making
Inclusion of the entire group for
implicating these decisions.
Result in improved operations and
better profits
Each one of the participants
were asked for their respective
opinion over the issue (Mustata,
Alexe & Alexe, 2017)

MARKET POSITION FOR
EACH WEEKConsistency across profits
Regulated development
Increased market creditability
Reduced loans through
consistent repayments
Insights and ideas related to
the market conditions and
requirements (Jakubowski &
Ryfa, 2017)

PROFITS/LOSSES MADE
EACH WEEKRegular profits
Increasing operational
dimension
Larger service area and
increased profitability
Details in respect to the
available markets for specific
products (Brauner, Philipsen
& Ziefle, 2016).

LOANS AND WAGES PAID
Initial loans were important for
buying ship
Loan installments were paid at the
end of each week
4% per week interest rate was
applied over loan (Shafudin, Chin
& Raihanatul, 2018).
Helpful in managing better
reach and time oriented
allocation of resources to both
the prospects

OPERATIONAL DETAILS
A comparison based market
was available
Equal opportunities were
available each week
Depending upon the supplies
planets or markets were to be
selected
Promoting the process of
basic business management
(Ding, Guan & Yu, 2017)

CONTD…
To make smooth profits by exploiting the pricing differences and
supply demand attribute.
This simulation game is based on promoting the process of basic
business management.
The pricing and supplies for a particular set of entities are
consistently increasing and decreasing.
developing exact business management skills through opportunity
based entry and exist from a market