Simulation Game

1540 words 7 pages
Show More
Strategy Simulation Game
Name:
University:
Course: Section:
Instructor:
Date:
Table of Contents
Introduction 2
Pure Monopoly 2
Oligopoly 3
Monopolistic Competition 4
Perfect Competition 4
Relation with Porter's Five Force Model 4
Conclusion 6
References 7
Strategy Simulation Game
Introduction
This paper explains the use of economics in managerial decision making based on the simulation. It describes decision making process of management in different market structures. The main objective of an organization is to maximize the profits in each type of market structure. Quasar Computers has done extensive research for the development of optical notebook. In the Year 2003, the company launched the first all-optical notebook …show more content…

In this situation, the revenue, profit and market share depend on the price strategy of firm as well as that of competitors (McConnell & Brue, 2004). In order to optimize the profits and market share the price for Quasar was set at $1,950 with a market share of 44% that caused an increase in the profits for both the organizations. Total amount of profit for Quasar was $216 million. It stabilized the market where Quasar can earn optimal amount of profit (Tata Interactive Systems, n.d.).
Monopolistic Competition
An increase in number of competitors and less interdependence in the pricing policy reduced the market share of Quasar in year 2010. It created monopolistic market structure for the firm due to product differentiation. The brand development budget of $200 million would cause an increase in the production capacity and will provide a combined profit of $1,305 million (Tata Interactive Systems, n.d.). It will also reduce the cost due to economies of scale. The new brand will be effective to face competition from the other products and to increase the market share of Quasar. It will create a non-price competition in the market; the product differentiation will cause an increase in the market share (Stretton, 2000).
Perfect Competition
"It exists where there are many firms supplying an identical product with no restrictions on entry or exit" (Grant, 2008, p. 69). In year 2013, the market for Neutron has

Related

  • Ethics Game Simulation Paper
    1190 words | 5 pages

    Ethics Game Simulation Krystal Beamon MGT/216 February 28, 2010 Erica Baker Ethics can be defined as the principles, norms, and standards of conduct governing an individual or group. Business ethics involves employees, managers, and other important members of the organization. In the ethics simulation one was responsible for making important decisions regarding the company G-BioSport. Before making these decisions one had to go through four different lenses and steps of the critical decision….

    Show More
  • Business Simulation
    879 words | 4 pages

    What have you learned Business simulation is simulation used for business training or analysis. Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, financial analysis, market analysis, operations, teamwork and leadership. The business gaming community seems lately to have adopted the term business simulation game instead of just gaming or just simulation. The word simulation is sometimes considered too mechanistic for….

    Show More
  • Beer Game Analysis
    3570 words | 15 pages

    * Introduction: The beer game is a simulation first developed at the Massachusetts Institute of Technology’s Sloan School of Management in the 1960s. This game was made in other to experiment how real organisations functions, where the consequences of every decisions play out as clearly as possible in the game as they would in a real organisation (Senge, 1990). Narayanan Arunachalam (2006) described the game as a popular classroom exercise for business schools conceived at MIT with the primary purpose….

    Show More
  • Ender's Game Book Report
    993 words | 4 pages

    Born To Lead In the novel Ender's Game by Orson Scott Card, the main character Ender is put up against one of the toughest challenges on his life. He becomes aware of his challenge when he becomes a little older, yet before that, little did he know that he will have to save the world. Ender in Enders Game is portrayed as a natural leader and fighter who is a killer at heart and can use his understanding of the enemy and natural skill to kill to destroy them. However, once he understands his enemy….

    Show More
  • Final everest report
    4498 words | 18 pages

    – Everest simulation MGMT1001 PAGE: Assignment 2: Everest Report (30%) Name: Tobias Vogel Course: MGMT1001 Tutors Name: Esha Mendieratta Tutorial time: Monday 4-­‐5pm (M16A) Student number: z3377958 Report Focus: To critically analyse my personal and team’s experiences gained during the Everest simulation, whilst concurrently….

    Show More
  • Overview of Simulation
    1927 words | 8 pages

    FINANCE SIMULATION: M&A IN WINE COUNTRY DEBRIEF SLIDES HBP PRODUCT NO. 4807 This PowerPoint presentation was prepared by Professor Timothy Luehrman for the sole purpose of aiding classroom instructors in the use of Finance Simulation: M&A in Wine Country V2 (HBP No. 4805). HBP educational materials are developed solely as the basis for class discussion. These materials are not intended to serve as endorsements, sources of primary data, or illustrations of effective or ineffective management. Copyright….

    Show More
  • SimVenture Evaluation Report LeedsMetUn
    12408 words | 50 pages

    the subject discipline are the actual module content itself and the use of the SIMVenture software to apply the module content. In relation to the subject discipline i.e. business & management, the use of this business game to introduce students to such enterprise‐ related curriculum is a typical and suited approach. Drilling down into deeper contextual factors, inputs from the module such as the module descriptor, learning outcomes, learning methods….

    Show More
  • Mgt 578 Simulation Reflection Paper
    1358 words | 6 pages

    Simulation Reflection Paper Schiobhan Hopkins MGT 578 – Strategy Formulation and Implementation Rodney Klein February 14, 2006 Thinking Strategically According to the Thinking Strategically simulation, "Strategy, in business, is the combination of foresight, planning, and decision-making that prepares an enterprise to achieve long-term goals and manage the consequences of contemporary decisions." A lesson learned was that one needs to properly construct long-term objectives to….

    Show More
  • Feasibility
    1490 words | 6 pages

    that your primary goal is to shoot your opponent with an air-powered weapon but that is where the similarities end. Most paintballers play in small field with brightly colored flashy uniforms. Airsofter's on the other hand prefer MilSim (Military Simulation). Devised to be an example of combat sports that required relatively little preparation but was capable of entertaining participants….

    Show More
  • Everest Simulation Reflection Paper
    1705 words | 7 pages

    | Mt. Everest Simulation Reflection Paper | Assignment 1 | | | | Individual reflection on the Mt. Everest Simulation exercise carried out on 5th October and the subsequent debriefing on 12th October | The Everest simulation was a unique experience. Before the actual simulation started, my team discussed the approach we would take and how we will deal with situations wherein the personal goals collided with the team goals. We shared our character profile information with each….

    Show More

Popular Essays