DO YOU EVEN LIFT
The Glo-bus simulation was a unique experience that all students should participate in order to manage a business in a competitive industry. From a strategic perspective, Do you even lift's initial goal was to make the highest profits and return on equity in both markets by offering a quality entry level and multi featured camera at a reasonable price throughout the game. Despite the sluggish start, we created a big shock in the industry half way through the simulation which quickly transcended our company to become one of the top companies in camera industry. Strengths and Strategies
Do you even lift began to dominate the industry by producing and offering a strong quality product in multi …show more content…
The reason why we employed this strategy is because we already build our dominance in years 11-14, we wanted to catch our competitors off guard. We had the most profits in the multi feature and above average profits in entry level. At the same time our costs for producing both cameras were either low or below average.
Doing this strategy at the last round is also advantageous because if one company does something extreme like we did, you will definitely see companies duplicating our strategy.
Some of our major problems during years 7-10 was adjusting to new trends, allocating costs in the wrong areas, and not getting enough of our product into the shelves of retailers. In year 7 our total labor and production costs were too high for the low return of equity we received. We compensated our workers for producing a sub par quality for both entry level and multi feature products.
At the same time, the industry started seeing a low price entry-level camera, which started a new trend in the entry-level market. Even though we downgraded during year 7, we still saw some light because of the increase of product in retailers. Although we had increase in product in retailers in year 8, more companies started to lower their prices in entry level, decreasing our market share in the entry-level market. The quality and price was on average with the rest of the companies in year 8. Year 9 started a downward trend for