Trying your hand at the Business Strategy Game? The BSG leaves many people stressed out. If you want to achieve success at the game, focus on the insights offered in this article. In this article, we lay out BSG online ‘how to win’ strategies.
Build a Team
Not many understand this, but teamwork is crucial to success in BSG. Teams get the opportunity to immerse themselves in a simulation where they can collaborate to build and run a business. That is why success requires that team members learn how they can help each other. When each team member gets in the groove, together they can push the same strategy with the amount of energy required to win the game.
That is why it is crucial that you pick strategies that are compatible with the ideas of each team member, provided these ideas are backed by research. Working with a team also comes in handy when you have to make key business decisions like choosing the same line of products or strategies for each geographical location, or customizing your approach across different countries.
Corporate Social Responsibility, or just CSR, is one of the defining factors that influence your standing in BSG. You will find CSR at the very first menu option when you begin the simulation. Basically, a business that is allowed to operate and trade also has an obligations towards the society they function in. Of course, you need to strike a balance between growth and CSR. You need to see how much you can realistically give back so that it doesn’t affect the profitability, sustainability and long-term survival of the company. Only when a company continues to increase revenue can it also fulfill its corporate social responsibility.
Use the Best-Cost Strategy
Moving on, you need to offer your customers products with highest style and quality (S/Q) rating while keeping prices at a minimum. This is known as the ‘Best-Cost Strategy’, which makes a company successful because lower prices attracts more customers as they think they are getting the best value for their money.
It’s obvious that you need to lower your costs in order to maximize revenue. Some suggest that the best way to lower costs while boosting production is to open plants in territories where labor costs are minimal, such as Latin America.
However, exploiting cheap labor is not the only way to cut costs in BSG. You can, for instance, check your advertising spending to find out the lowest cost at which you can achieve the desired market share. Likewise, you can also set the delivery time to 4 weeks.
Experience shows that this doesn’t affect sales much, but positively impacts the EPS and Net Profit. Moreover, you can even consider cutting back on retail support each year. These are some of things that you can do to lower costs in BSG.
So there you go! Follow these BSG online how to win tips and stay ahead of competitors in the long run.