Effectiveness of communication, behavior, and decision making process
In Round 8, Baldwin Team was trying to focus on getting rid of the units left in the inventory for Baker and Buddy products. Baldwin Team had experienced a downfall on the last round that was not able to sell enough units to reach the reasonable profits. We were able to reach 100% awareness for both of the products in the last two rounds. The team's plan for this round was to sell off the capacity of Baker and kill this product to gain sales and end this simulation in a positive form.
For this round, Baldwin team decided to decrease the promotional budget for Baker and Buddy to save money since it already reached a 100% awareness. In addition, the team members decided to reduce the products' prices in order to sell more units and get rid of what is leftover in the inventory. Even though the team members were frustrated of the report's outcomes, they were exerting their efforts to last minute of gaining some sales and try to put the company back on the competition. Baldwin Team was working hard and searching well via "Student Guide" to find any chance to implement in order to obtain sales and raise the net profit.
Baldwin Team members were cooperating in every decision that was taken during the simulation rounds. Although, the outcomes of the rounds were negative and badly affect the business, but the team was keep trying to the last minute and exerting efforts in all ways to return the business back in competition with the other teams. The team members have tried many ways to rectify the results and never felt disappointed during the simulation. After each round, the team members were collaborating with each other on the Group Discussion Board with posting different opinions and thoughts regarding the resolutions that should be taken in the upcoming rounds. All the decisions were taken with a conviction of all the team members.
In the future, the team members will need to research and read the "Student Guide" before taking any decision that might impact the business in a passive way. Baldwin Team has encountered a downfall of the business as a result of producing a new product without having a good planning for it. There are lots of lessons learned from this simulation. For example, we have learned from our mistakes such as how to plan for a new product in the future, when is the right time to increase or decrease the sales and promotional budgets for the products. In addition, the team members learned the importance of cash liquidity in the business and how its reduction could affect negatively on the business. This simulation was a great knowledge and important experience for the students to gain. It is similar to a real life experience that we may encounter in a real business atmosphere.