Just finished the 4 full-days intensive (8:30AM-9PM) Business Simulation Class. This class is about Retail and Manufacturer relationship and how to do business in a win-win situation. Even though our team didn't win the game. I learned quite a lot from this class.
Lessons learned:
- Our strategy is valid, but the execution could be much better.
- Advertising is important, but we need to really understand the effect and the return.
- Need to spend more time on the financial data by doing a more detail analysis.
- When the company is in crisis, focus on the fundamental.
- Need to prepare better for negotiation. What is your bottom line? Don't just give discount, ask for something!
- Challenge your assumption. If the assumption is wrong, you will make a fatal mistake.
Also got a chance to meet some old friends from the original KxCracker Team. I am glad that they are doing well.
Overall, it was a lot of fun.
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