35NL year 3 Entrepreneurial assignment
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Decisions on prices and costs year 03
Check the page Year 1-2-3-4. During four 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 how the Emerald Forest has been managed in the past. 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. All choices and boundaries are explained on the page Year 1-2-3-4 decisions. You will make all these decisions now for this year. After having seen the results from this year you decide on the new 'amounts' in year 3.
Goal
Making decisions which 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.
Deliverable
Fill out all of the ten decisions in your Team File.
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 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.
Additional information
- 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
- Year 1-2-3-4 Decisions
- Operating review
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