Getting Started Exercises|My essay solution

Posted: March 6th, 2023

Getting Started Exercises

Q.1 Please share what you learned from the getting started exercises.

Plz, Do find the attachments as well.

When the Competition begins, your decisions count! Additional tasks could include:

» Optional Homework Assignments » Peer Evaluations

See your Dashboard for complete information.

Login with your User ID and Password at capsim.com. Click on Capstone. Go to Getting Started and follow the steps that include:

» Reviewing the Rehearsal Tutorial » Opening the Capstone

Spreadsheet » Forming your company

The Course Road Map

Getting Started

Practice Rounds (if applicable)

Competition Rounds (if applicable)

Your instructor might include a Comp-XM exam. Go to the Course Page and choose Comp-XM. Follow the instructions on the Dashboard which include: » Decision making

using the Comp-XM

Spreadsheet » Board Queries (quizzes)

Go to capsim.com/register, follow the onscreen instructions and register into your Industry.* Create your User ID and Password.

*Your instructor may have given you an Industry ID Number. If not, you can locate your industry by using your school name/campus and either the course section number, start date or your instructor’s initials.

Registration

Table of Contents

SUPPORT TICKETS:

If you need assistance, please submit a support ticket. Login at capsim.com, click Capstone, then in the left menu, select Help > Support. If you have problems registering, send an email to support@capsim.com.

Team Member Guide

Management Tools

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1 Introduction

Congratulations, you are now in charge of a multimillion dollar company. You manufacture sensors, which you market to other manufacturers. They put your products into the devices they sell. Your company was created when the government split a monopoly into identical competitors. As a monopoly, operating inefficiencies and poor product offerings were not addressed because:

• Increasing costs could be passed onto customers; and • Mediocre products would sell because customers had no

other choices.

Although last year’s financial results were decent, your products are getting old, your marketing efforts are falling short, your production lines need revamping and your financial management is almost nonexistent.

Competition in the post-monopoly era means you can no longer ignore these issues. If you do, competitors with better products and/ or lower prices will take your market share.

Sensors Are Everywhere…

Sensors are devices that observe physical conditions. For

example, the average cell phone contains dozens of sensors

that allow it to interpret touch, spatial orientation and

signal strength.

New sensor businesses are created every day in areas as

diverse as security, aeronautics and biomedical engineering.

You are in a business-to-business market, not a direct-to-

consumer market; the sensors your company manufactures

are incorporated into the products your customers sell.

1.1 The Industry Conditions Report

Each simulation industry is unique. As your simulation starts, the Industry Conditions Report, which is explained in Chapter 2, will outline the beginning business environment, including customer buying criteria.

The Industry Conditions Report is available from your

simulation Dashboard.

1.2 Management Tools

Here are the tools you need to run your company.

1.2.1 The Rehearsal Tutorial Think of the Rehearsal Tutorial as a driving school for the simulation. The tutorial will show you ways to steer the company, including how to:

• Invent and revise products; • Make marketing decisions; • Schedule production and buy/sell equipment; and • Ensure your company has the financial resources it needs for

the upcoming year.

The sample resources used for the Rehearsal, including its Capstone Courier (see below) and Industry Conditions Report, mirror those used in the actual simulation.

The Rehearsal is available from your simulation Dashboard.

1.2.2 The Capstone Courier Every round, you and your competitors will have access to an industry newsletter called the Capstone Courier. The Courier (described in Chapter 5) is an extensive year-end report of the sensor industry. It includes customer buying patterns, product positioning, public financial records and other information that will help you get ahead. In business, knowledge is power. If you want to evaluate your company’s performance or analyze your competitors, the Courier is the place to start.

Customer Survey Scores for each product (Chapter 3) can be found in the Courier’s Segment Analysis pages. These scores determine sales distribution. In general, the higher the score, the better the sales.

The Courier Reports “Last Year’s Results”

The Courier available at the start of Round 1 displays results

for Round 0, when all companies were equal just after the

monopoly’s breakup. The Courier available at the start of

Round 2 will display the results for Round 1. As the simulation

progresses and strategies are implemented, results among

the competing companies will begin to vary.

Company Departments

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1.3 Company Departments

The Rehearsal Tutorial and Chapter 4 discuss company activities. You have four main departments or functional areas:

• Research & Development, or R&D • Marketing • Production • Finance

Many simu

 

 

SOLUTION

From the getting started exercises, I learned that Capstone is a business simulation game that involves running a virtual company and making decisions to ensure its success. The game involves several rounds of competition, including practice rounds and competition rounds, where the decisions made by each team determine their success. The game also includes optional homework assignments and peer evaluations to enhance the learning experience.