Q.1Please share what you learned from The Practice Rounds. Comment on how your team is forming and what communication methods you have decided on.
Q.2 Write a reply
The Capsim simulation on rounds 1 to 3 of the practice competition gives me a broad insight into how to run a business well in order to succeed in the market. I gained additional knowledge, in particular, on how to create and implement broad company strategies successfully. My team had to come up with a marketing strategy as we compare the outcomes of prior rounds, we tend to concentrate on the marketing and broad differentiation initiatives, focusing our marketing strategy on gaining market share, pursuing new markets in the future, and growing our product line, reduce our fixed costs to increase our margins, which has to do with HR and TQM. We also talked about how crucial team communication is. To communicate and work together efficiently, we choose to combine email, video conferencing as well as cell phone chat and this made it possible for us to remain in sync and guarantee that everyone was aware of all the choices and decisions that were taken as well as future plans. This is accurate despite the fact that the team is still developing and figuring out our strengths and weaknesses.
Note: Please use reference for Q1 from reply Q2 but make different words.