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Introduction to Threshold Competitor

Introduction . Simulate the workings of a small manufacturing businessEach team will play against each other4 teams in Group 234The winning team does not have to write the final summary paper for MGT 495Computer processes each company's individual decisionsAdministrator (instructor) acts as own

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Introduction to Threshold Competitor

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    1. Introduction to Threshold Competitor MGT 490, Strategic Management: Concepts Quest Program, Covenant College Note: The speaker’s notes for this presentation contain useful information. You may want to download this file to your computer so that you can view or print the speaker’s notes. During this demo, we do not expect to cover every nuance of the game. Our objectives are: 1. To motivate you to study the Threshold Competitor manual in preparation for the quiz in Week 3. 2. Give you a taste of what is involved in the game 3. Promote a bit of healthy competition or even anxiety. Notes to Instructors Using this Demo If you have not been issued an instructor’s ID, password and instructor’s manual for Threshold Competitor, please contact the Quest office. The point of this demo is not to completely explain the game, but rather to give students a taste of what is involved. Expect them to be a bit overwhelmed or even anxious after your demo. During this demo, we do not expect to cover every nuance of the game. Our objectives are: 1. To motivate you to study the Threshold Competitor manual in preparation for the quiz in Week 3. 2. Give you a taste of what is involved in the game 3. Promote a bit of healthy competition or even anxiety. Notes to Instructors Using this Demo If you have not been issued an instructor’s ID, password and instructor’s manual for Threshold Competitor, please contact the Quest office. The point of this demo is not to completely explain the game, but rather to give students a taste of what is involved. Expect them to be a bit overwhelmed or even anxious after your demo.

    2. Introduction Simulate the workings of a small manufacturing business Each team will play against each other 4 teams in Group 234 The winning team does not have to write the final summary paper for MGT 495 Computer processes each company’s individual decisions Administrator (instructor) acts as owner and industry regulator

    3. Goals of the Threshold Competitor Game Understand the importance of a business and strategic plan to guide business decisions Understand the relationship between the three main financial statements Understand the relationship between functional strategies in marketing, operations and finance

    4. Guide to Success (Part I) Management is a balance of art (intuition) and science (analysis of facts) combined with group dynamics

    5. Guide to Success (Part II) Manage your time efficiently (stay focused) Manage your business – do not guess at your decisions Communicate, coordinate, collaborate with your team Compete with the other teams Learn from your failures Decision rules are the same for every round Must learn to capitalize on success and recover from mistakes 6. Expect to be a little confused at start You will quickly move up the learning curve Simulation requires applying your knowledge not just listening as in lectures (fundamental shift) Guessing may result in better performance in the short term – but will suffer in the long term. You are not using all the cumulative information you gain – no learning!Guessing may result in better performance in the short term – but will suffer in the long term. You are not using all the cumulative information you gain – no learning!

    6. Steps to Mastering the Game Before Class 3 (MGT 490) – Learn the Basics Before Class 4 (MGT 490) – Master the Rules Class 5 - Startup Before Class 1 (MGT 495) – Launch Your Company

    7. Mastering the Game: Step 1 Before Class 3 (MGT 490) – Learn the Basics Log on and set up your account Print and read the rule book Play the solo game at least 3 times for at least 4 quarters each time. Print company summary report for Class 3. Class 3 (MGT 490) Discuss your game experiences Take practice game quiz Before Class 4 (MGT 490) – Master the Rules Class 5 - Startup Before Class 1 (MGT 495) – Launch Your Company

    8. Mastering the Game: Step 2 Before Class 3 (MGT 490) – Learn the Basics Before Class 4 (MGT 490) – Master the Rules Reread the rule book Play the solo game for 6 quarters (as often as you like) Class 4 Rules quiz Placing out of the rules quiz: If you end a solo game in first place after 6 quarters, you will receive a 100 on the rules quiz. If you end a solo game in second place after 6 quarters, you will receive a 95 on the rules quiz. Bring printed company report to class Class 5 - Startup Before Class 1 (MGT 495) – Launch Your Company

    9. Mastering the Game: Step 3 Before Class 3 – Learn the Basics Before Class 4 – Master the Rules Class 5 – Startup Groups are assigned for MGT 495 Assignment will be random You will have some class time to plan Before Class 1 (MGT 495) - Launch Your Company

    10. Mastering the Game: Step 4 Before Class 3 – Learn the Basics Before Class 4 – Master the Rules Class 5 – Startup Before Class 1 (MGT 495) - Launch Your Company Pick a name Create an organization structure and assign jobs Create Vision, Corporate Strategy and Competitive Strategy Create Functional Strategies Marketing Finance Production Human Resources

    11. The Business Environment All companies start from identical point All companies manufacture identical products Product #1 & #2 Manufacturing process consists of forming plastic raw material (sheets) into finished consumer product Retail => Sell directly to general public Sales of Product #1 DO NOT influence Sales of #2 (not substitutes nor complimentary) No customer or brand loyalty => you must “earn” each quarter’s sales

    12. Limited Partnership Company is in start-up position – only one quarter’s (quarter 0) info is available (Appendix B) Company privately held David & Emily Anderson developed business but as limited partners not allowed to perform any management duties You will deliver quarterly reports to the board of directors Initially no difference exists between you and your competitors products This will change as you modify advertising, pricing and investment

    13. The Simulation Environment Each decision period is 3 months (1 quarter) Three stages to each quarter: Forecasting and Decision Stage: Test “what-if” and modify decisions until have best case Teams make approximately 30 decisions per period Processing Stage: Instructor directs software to compute results for ALL companies. There is no “late” in this game. Results Stage: Teams analyze actual versus forecasted performance. Use this analysis to forecast next month.

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