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Table of contents
Part 2 - The Hidden Art of Management
Overview
Recap of course structure
Some learning outcomes from Part 1
Further learning outcomes from Part 1
Preview of Part 2
Recap of the assessment process
Model 201: Finding the best price: introducing the 'sweet spot'
The pricing ‘sweet spot’
Model 201: Price, Volume and Sales
Interpreting the boxes
Interpreting the relationships
Interacting with the model
What you will experience
Analysing market trends
Numeric reports
Demand curve
Sales curve
Implication from Model 201
Test 201
Model 202: Price sensitivity and different types of market
Description of price sensitivity
Definition of price sensitivity
Introducing price sensitivity
Zero price sensitivity – market trends
Zero price sensitivity – demand curve
Zero price sensitivity – sales curve
Low price sensitivity – market trends
Low price sensitivity – demand curve
Low price sensitivity – sales curve
High price sensitivity – market trends
High price sensitivity – demand curve
High price sensitivity – sales curve
Finding the 'sweet spot'
A simplified relationship
Solving a simplified relationship
Finding the sweet spot by trial and error
Finding the sweet spot using calculus
Implications from Model 202
Test 202
Model 203: Optimising product quality
Product quality and its relationship to price sensitivity
A model of product quality
Relationship with Model 202
Introducing the new boxes in Model 203
Low product quality – market trends
Low product quality – sales and profit outcome
Medium product quality – sales & profit outcome
High product quality – sales & profit outcome
Lessons so far from Model 203
Return map, simplifications and solving simple relationships
Maximum Return map
Some simplifications in Model 203
A simple relationship between several factors
Solving the relationship between several factors
Test 203
Model 204: Advertising and Brand Identity
Apparent Quality
Brand Identity
A model of Brand Identity
Relationship with Model 203
Introducing the new boxes in Model 204
No marketing spend
Low marketing spend
Cutting marketing spend
Medium marketing spend
High marketing spend
Implications from Model 204
Maximising Operating Profit
Simplifications in Model 204
Test 204
Learning outcomes so far
Model 205: Running a business on an unlimited overdraft
Return to the Retailer’s accounting framework
Simplifications from Part 1 that are now removed
Model 204 elements within Model 205
Model 205 framework
Options Panel
Diagnostic Graphics
A business scenario
Business rules briefing - 1
Business rules briefing - 2
Initial business planning
Your business objective
Creating a successful virtual business
Test 205
Learning outcomes so far in Part 2
Model 206: Running a business with a fixed overdraft Limit
Business scenario (recap)
Business rules briefing – 1 (recap)
Business rules briefing – 2 (recap)
Model 206 framework
Company insolvency
Action to deal with insolvency
Running a business with a fixed overdraft limit
Your business objective for Model 206
Diagnostic Graphics (recap)
Test 206
Model 207: The impact of external events
Briefing on Model 207
Examples of unpredictable events
Model 207 framework
What happens if a customer does not pay you at all?
What happens if a fire destroys your Fixed Assets and Stock?
Conclusions from Model 207
Test 207
Model 208: Competing in real time with other participants
Briefing on Model 208
Creating a challenge
Joining a challenge
Challenge scoreboard
Company rankings
Participating in a competitive challenge
Test 208
Model 209: Credit crunch conclusion
Profits, Assets and Cash Flow (Model 105)
Estimated Profit vs Measured Cash Flow
The banks invested in dubious home loans
What the banks hoped would happen
What happened to the loans instead
The banks face bankruptcy
Test 209
Part 2: Learning outcomes and progress review
Learning outcomes from Part 2
Learning outcomes from the course as a whole
Preparing for the Assessment
