Iceflake Simulation

The budget analysis shows that the labor hours of the firm are higher than the budgeted amount. As such, the firm needs to evaluate the cost benefit analysis of making or buying their products. To make this decision, various factors need to be considered. Before making the decision, Peyton needs to evaluate the marginal costs and revenue of making versus buying the products. The firm should take the option which provides the highest marginal profit which is the

The “Miracle on Ice,” where the United States defeated the Soviet Union in the 1980 Winter Olympics at Lake Placid, New York will forever be known as one of the greatest moments in American sports history. This game was about more than just sports though, it signified American strength, even when faced the greatest adversities. The United States was suffering through Vietnam, Watergate, and the wrenching upheavals of the 1960s. Many believe this game was even the beginning of the end for the Cold War. The Soviet Union had won the gold medal in six of the seven previous Winter Olympic Games, and were the favorites to win once more in Lake Placid. The team consisted primarily of professional players with significant experience

The LDA Consulting Incorporation has an initiative to bring to the community, evidenced based or model programs designed to educate the participants about the risk factors associated with tobacco usage among youths. LDA Consulting’s program is designed for youths ages 9 through 18.

Imagine that you have decided to open a small ice cream stand on campus called "Ice-Campusades." You are very excited because you love ice cream (delicious!) and this is a fun way for you to apply your business and economics skills! Here is the first month's scenario--you order the same number (and the same variety) of ice creams each day from the ice cream suppliers, and your ice creams are always marked at $1.50 each. However, you notice that there are days when ice creams remain unsold but other days when there are not enough ice creams for the number of customers.

The purpose of this paper is assessing my strategy and decisions in the simulation Biz Café. Then, I will give my results and explain how I got there. However, there were many factors involved creating these results. In this simulation, everything was left up to me to decide how to run my new coffee shop. There were big decisions at the beginning you had to make to create the overall theme of your business. Then, I was to hire employees, buy goods, and act on specials decisions or react to good or bad customer reactions. This, I will explain more in the following paragraphs.

The company started off producing 20,000 units of mountain bikes. We did not change the production quantity. Last year our forecast sales were 24,000 when we only sold 19,866; therefore we thought it would be best to leave production at 20,000 bikes. Having excess inventory, we concluded that 20,000 units should be enough considering our quality has not changed and our advertising will not increase the sales dramatically. Although we had the choice to produce as much as 30,000 units, we felt as though we did not have sufficient money to increase production. We were interested in allocating the money towards marketing as opposed to production. We realized that without awareness, no matter how many units we make, sales would be inefficient.

To perform a break-even analysis, we have made the following assumptions: (a) retail margin= 60%, (b) the additional fixed cost of production per flavor, including advertising, bottling run and sundries, is $10 million and this is assumed to be an annual cost, except the bottling run, (c) a conservative estimate of percentage share of market figure is derived by multiplying the market segment percentages, as well as the age segment percentage for the category > 40 yrs. The percentage = 74% x 62% x 85% x 40% = 16%. We first determine the retail

In business there are no guarantees for success. Skills, knowledge, great motivation and honest evaluation of ability to carry out and then manage the operations are just some of the requirements that determine the probability of the successful project. Success is never automatic and does not rely on luck. There are no ways to foresee or eliminate all of the risks that might affect successful operation of a new business. However detailed planning, thorough analysis and well-carried out organization create good potential for a new business. In the provided case study, we will assess the probability of success for Icedelights franchise in Florida. Analysis will be done through evaluation of each step in the decision making process, close

As I get further and further along in this simulation, I have noticed that I am beginning to understand what it takes as a marketing manager in order to be successful. Careful considerations must be made to be sure that the right decisions benefit both Minnesota Micromotors, Inc., and our customers. Our success comes from our customers’ success and loyalty that they have with this company. In finding ways to incorporate the important factors that matter most to our customers is what will bring in new customers and keep our existing ones around for the long hall.

For my project, I ran Coffee-Roma, a coffee shop located in the business district of a large city. My simulation ran for 60 days. Over this timeframe, I hired 7 employees and earned gross revenues of $89,984.20. From those revenues, my net profit totaled $14,046.83. Below are the details of how I attempted to best run my business.

Initially, our firm’s business position was at a healthy position. In the beginning of the simulation, our overall market share for the automobile industry was 28.2%; the highest in the market. We realized that our primary strength from product contribution came from our economy car Alec with 63.5% market share for economy cars, and from our utility car, awesome with a 48.5% market share for its vehicle class. Thus, it was evident what we needed to do; maintain high market share of our leading cars while conforming our least profitable vehicle class sustainably to coordinate to customer demand.

Since quarter one was the first quarter of this simulation, I was unaware of how difficult it was going to be to make all the different decisions. Firstly, I had to choose a Company name. Because I was selling computers, I thought that the name “Dev-Tech” was a perfect fit being that this simulation was about development and technology. Next, I had to choose a target segment. I knew going into this simulation that it would be better to invest in the more expensive goods as it would benefit me in the end. The segment that didn’t care about price was Mercedes, so that is the segment that I made my first priority.

To place a reader in the mind of a character, the author must create a scenario which will appeal to the senses, and keep readers intrigued. The technique of building imagery can successfully transform the world around the reader, and connect them to the story. One Mile of Ice by Hugh Garner uses many imagery-building techniques to place readers in the mind of a man on the verge of death. In this story, Hugh Garner tells the tale of two brother-in-laws, Ralph and Pete, who venture off into town, accompanied by mare and sleigh, to get presents for the children for Christmas. However, their journey takes a very dark turn not too far into their adventure. The crisp winds become a blinding storm, in which Ralph and Pete are forced to fight for their lives. Unfortunately, only one man survives - Pete. One Mile of Ice uses visual components to build imagery, as well as tactile techniques to throw readers into the mind of the protagonist. Alongside this, the author uses auditory traits to reproduce the true terror experienced in this story by these brother-in-laws.

Contribution margin is one of the vital tools utilized throughout the Capsim simulation and business operations in general. Bushong and Talbolt (2001) summarizes the contribution margin ratio as the difference between product revenue and variable cost, over variable cost. Recommendations under the Capsim simulation advised that groups maintained a contribution margin no less than 30% as this will aid in long-term business profitability and sustainability (Capsim, 2014). Through the successful understanding and implementation of the contribution margin analysis, business leaders can effectively make decisions regarding price, labor and sales, both pre and post product distribution, that can heavily impact short-term and long-term profit (Spaller, 2006).

We have to spend a substantial amount in developing our customers’ base. For example, we will print fliers and this will cost the business an estimated sum of $2000 dollars. These fliers can be distributed to 10,000 customers, meaning that each customer will absorb $0.2. In addition to this cost, we need to spend some money for transportation as we get these fliers around. This can be estimated as $500. This entire process will definitely takes us around two weeks to complete it. A success in this process will put the business in a very good