Different companies sometimes use these terms differently and, at times, interchangeably. Technically the Business Continuity Plan BCP refers to the means by which loss of business may be avoided and it ought to define the business requirements for continuity of operations. Technically, the Disaster Recovery Plan DRP deals with the restoration of computer systems with all attendant software and connections to full functionality under a variety of damaging or interfering external conditions.
Teams will need to analyze their position, their potential and make assertions about what direction they will take the company. They will enact that strategy through the following decisions: Students set an advertising budget and theme, an MSRP, dealer discount, and promotions for each vehicle.
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In addition, students may support the product-level marketing with corporate advertising and direct mail campaigns. Developing a product pipeline is how the company defines their target markets and builds their future.
Students may build and test new product concepts, upgrade existing vehicles, and invest in corporate technological capabilities. Dealers in StratSim are where sales and service are actually done.
Student decisions include breadth and quality of dealerships in multiple geographic regions. The strategic function of marketing cannot ignore the impact on other parts of the business. Therefore, in StratSimMarketing students also are asked to make decisions on cash flow planning, production capacity, vehicle sales forecasts and production, retooling and inventory management.
These decisions underscore the financial impact marketing decisions have on the business and also demonstrate how marketing must be coordinated with other functional areas of the organization.
Optional B2B and Licensing Modules: These optional modules allow students to explore alternative purchase processes and sourcing options.
The B2B and licensing modules may be turned on at any point during the simulation to provide new challenges and options as the game progresses.
Purchase of Market Research: Students use sophisticated market research to learn about buyer behavior, and improve their strategic choices. Research techniques included in StratSimMarketing include test markets, conjoint analysis, perceptual mapping, focus groups, concept tests, and purchase surveys.
We suggest a combination of quizzes, individual and team assignments, along with simulation performance to ensure an equitable assessment of student performance.
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Good job, you have a Business Continuity Plan! But how do you know if it will do its job? The answer is testing, and here are three ways (3) to do it right. With its understandable explanations of Monte Carlo and step-by-step instructions for Microsoft Excel, Lotus, and @Risk software, this text/software package offers both the instruction and the practice students need to begin solving complex business problems.
First, of the CEOs presentation of the sample business plan, and second, and the groups develop example sections of their plan for an existing local business. The final evaluation of the success of the plan is derived from the overall success of the business simulation project which the plan creates.
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