Discussion PART 2 Biz-Cafe Results PDF

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Discussion Week 6 PART 2 Biz-Cafe Results...

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PART 2: Biz Café Results-Post on this same Discussion Board the following information on your Biz Café Simulation Results: 1. 2. 3. 4. 5. 6.

The strategy that you selected for your coffee shop Your cumulative net profit or loss for the 16 rounds Why you got the results that you did? (Major reason) What was your best decision? Explain why and what the outcome was? What was your biggest mistake? Explain why and what was the outcome? Based on what you have learned, what would you do differently if you could redo the simulation?

Post as your INITIAL POST on Week 6 Discussion Board answers to the above questions

Part 2: Biz-Café Results Strategy: My business strategy was to be a High-Cost provider and sell less cups but provide 100% satisfaction to the customer. This strategy worked in my favor. Net Profit: My cumulative net profit at the end of 16 rounds was $67,362. Major reasons: There were several major reasons behind this net profit. First, I paid the employees and the managers more than the market average; happy employees mean happy customers. Secondly, I sold organic coffee instead of good or medium quality coffee. By doing this, I could keep the prices of my coffee higher than the market, hence, more revenue. Lastly, I did not miss a chance to advertise my product. Best Decision: My best decision was to buy the insurance when I had the chance. The outcome was that I saved money when there was an incident later in the simulation. Mistake: My biggest mistake was to switch to the new supplier. The outcome was that my sales did not increase as much as they did with the old supplier. Redo: If I were to redo the simulation, I would avoid taking some decision like the green update, switching to a new supplier, and keeping the price of my coffee stable throughout the simulation....