49NL Year 2 Business assignment: Difference between revisions

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{{49NL header general}}
{{49NL header general}}


== Decisions on prices and costs year 2 ==
== Decisions on prices and costs year 2 & reflection point ==
Check the page [[Year 1-2-3-4]]. During the years you have to take several decisions
Check the page [[Year 1-2-3-4]]. During the years you have to take a number of decisions
* on prices (five decisions)  
* on prices (five decisions)  
* on costs to be made (five other decisions)
* on costs to be made (five other decisions)


== Situation ==
== Situation ==
On the page [[operating review]] you can see how the Emerald Forest has been managed in the past.
On the page [[operating review]] you can see now how the results of your actions and how the market responded to your earlier choices and decisions taken. You continue developing your new hotel concept and working on establishing its footprint in the market under your new chosen strategy. Look at the feedback and comments provided by your coach(es), and if applicable, the chosen marketing research. Keep your actions aligned with your strategy.<br><br>
You take over the hotel and have already chosen a new strategy. Now you choose the prices (five of them) which will bring revenues and the costs you are going to make on five specific choices. <br>
Now, you get to assess current prices and revise them accordingly (five of them) bringing again revenues and their respective costs according to other five specific choices. You will make all these decisions now for year 2. After seeing the results from this year 2, you will eventually get to take further decisions (“new amounts”) in year 3. <br><br>
All choices and boundaries are explained on the page [[Year 1-2-3-4|Year 1-2-3-4 decisions]]. You will make all these decisions now for this year. After having seen
Your Team makes new decisions regarding year 2 in your Team File
* the results in your operating review of the years passed
* read the info on this platform
* making your plans and calculations
Your Team makes new decisions regarding year 2 in your Team File. <br><br>


[[Image: example decisions on prices_2018_3.jpg|thumb|900px|center]]  <center>''Tab year 1-2-3-4 in your Team File. Just an example of the 5 decisions on prices. The same goes for decisions on costs. The 'active' year will be 'yellow', a year which has passed will be greyed-out. Mouse over in row B gives you more info on the decision. You will also get an alert if the input is not okay. Be sure to explain in depth, with sources! and arguments and preferably calculations.''</center>
[[Image: example decisions on prices_2018_3.jpg|thumb|900px|center]]  <center>''Tab year 1-2-3-4 in your Team File. Just an example of the 5 decisions on prices. The same goes for decisions on costs. The 'active' year will be 'yellow', a year which has passed will be greyed-out. Mouse over in row B gives you more info on the decision. You will also get an alert if the input is not okay. Be sure to explain in depth, with sources! and arguments and preferably calculations.''</center>


== Goal ==
== Goal ==
Making decisions that fit-in with your new strategy and which will keep the Bergman's, as well as the customer satisfied. Regarding the costs: all of the five cost groups have not been used in the history: all of these costs will be additional to the existing fixed and variable costs. Be careful to have a balance between the total of the (new) costs, the prices and your strategy. In the end, the idea is that you keep the profit on the level that the hotel used to have or make it go up.
Keeping your decisions in alignment with your new strategy and your new customer segment(s) and its evolving behavior.
Remember that all five decisions are [[cost groups|new costs]]: behave on incremental basis to previously pre-determined fixed and variable costs as part of operational management strategy. Your focus remains on the execution of your strategy while positioning your hotel to drive and sustain business growth and profitability in the long run. So, keep your professional hat on managing a good balance between prices and its related total costs (incl. new costs).


== Deliverable ==
== Deliverable ==
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You work in the cloud: no need to save (done automatically) or hand-in your Team File. Just be sure it is ready, well before the deadline.
You work in the cloud: no need to save (done automatically) or hand-in your Team File. Just be sure it is ready, well before the deadline.


== Additional information ==
== Help Files ==
* [[Demo Team File]] of a finished Game. Each competition is a bit different, but it will give you an idea of what a filled out Team File might look like
* [[Demo Team File]] of a finished Game. Each competition is a bit different, but it will give you an idea of what a filled out Team File might look like
* [[History]]
* [[History]]

Revision as of 15:17, 31 May 2023

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Decisions on prices and costs year 2 & reflection point

Check the page Year 1-2-3-4. During the years you have to take a number of decisions

  • on prices (five decisions)
  • on costs to be made (five other decisions)

Situation

On the page operating review you can see now how the results of your actions and how the market responded to your earlier choices and decisions taken. You continue developing your new hotel concept and working on establishing its footprint in the market under your new chosen strategy. Look at the feedback and comments provided by your coach(es), and if applicable, the chosen marketing research. Keep your actions aligned with your strategy.

Now, you get to assess current prices and revise them accordingly (five of them) bringing again revenues and their respective costs according to other five specific choices. You will make all these decisions now for year 2. After seeing the results from this year 2, you will eventually get to take further decisions (“new amounts”) in year 3.

Your Team makes new decisions regarding year 2 in your Team File

Tab year 1-2-3-4 in your Team File. Just an example of the 5 decisions on prices. The same goes for decisions on costs. The 'active' year will be 'yellow', a year which has passed will be greyed-out. Mouse over in row B gives you more info on the decision. You will also get an alert if the input is not okay. Be sure to explain in depth, with sources! and arguments and preferably calculations.

Goal

Keeping your decisions in alignment with your new strategy and your new customer segment(s) and its evolving behavior. Remember that all five decisions are new costs: behave on incremental basis to previously pre-determined fixed and variable costs as part of operational management strategy. Your focus remains on the execution of your strategy while positioning your hotel to drive and sustain business growth and profitability in the long run. So, keep your professional hat on managing a good balance between prices and its related total costs (incl. new costs).

Deliverable

Fill out all of the ten decisions in your Team File.
Do not copy paste prices or explanation in your team File from the year before! Make 'fresh', new explanations and even when prices are alike, type them in and do not copy paste.
The most important thing is the arguments you give in your Team File, underneath every decision. Why did you choose them? Try to find benchmarks, put URL's or links in, make basic calculations, try to predict the outcome of your decisions.
Especially looking at the costs: these are going to be additional:

  • exactly what are you going to spend the money on? and,
  • what do you think it will bring your hotel? Be concrete, also calculate.

Assessed elements

  • Are all choices made and within the boundaries set?
  • Is there a clear link to the strategy?
  • Are the arguments valid?
  • Is it clear what the costs are spent on exactly?
  • Are there basic calculations done to show the effect of the choices at each choice?
  • Is there a link to what happened in the history?

Handing in

You work in the cloud: no need to save (done automatically) or hand-in your Team File. Just be sure it is ready, well before the deadline.

Help Files


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