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BUSINESS FOCUS

BUSINESS FOCUS. Identifying Winning Retaining Growing a simulation exploring how to allocate effort to maximise business success. Introduction. You manage the development of customers in a portfolio. You must: Make effective use of time

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BUSINESS FOCUS

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  1. BUSINESS FOCUS Identifying Winning Retaining Growing a simulation exploring how to allocate effort to maximise business success

  2. Introduction You manage the development of customers in a portfolio. You must: • Make effective use of time • Make efficient use of time • Ensure business success • Manage a portfolio of customers & products • Identify and develop opportunities

  3. Process You will be divided into small teams each of which must: • Analyse the situation • Run the portfolio for several periods • Making Decisions (about allocation of effort) • Submitting them • Receiving and Analysing Results • Replanning and Reacting • Combine with the other teams to discuss and compare results and strategies

  4. The Situation • Taking over an existing portfolio • Part of group that has several portfolios • Must maintain and develop a range of • four client groups • three products • Have total autonomy to run the portfolio

  5. The Customers & Products • Products imaginatively called A, B & C • Product A very roughly equates to money transmission • Product B very roughly equates to credit balances • Product C very roughly equates to debit balances • Customers Groups are 1, 2, 3 & 4 • Group 1 comprises a few medium sized companies • Group 2 comprises many small companies • Group 3 comprises several medium sized companies that are difficult to sell to. • Group 4 comprises a few organisations (such as charities and schools) that it is felt should be served.

  6. Cost & Income • To keep numbers relatively small, all income and costs are measured in a universal currency - Account Unit (AU) • Fixed Costs are 1000 AUs each period • It costs 4 AUs to service each customer/period • Income varies as follows: Product A Product B Product C Customer Group 1 25 60 45 Customer Group 2 4 10 6 Customer Group 3 20 50 40 Customer Group 4 7 25 15

  7. The Buying Cycle • You lose some existing customers • naturally • through poor servicing • through inadequate selling • You obtain new customers • based on your prospecting effort • You grow sales • by directing your selling effort

  8. The Business Tasks Each period you allocate effort to: • Identifying new business • through timely market research • Winning new business • through spending the right time on prospecting • Retaining the business • through having enough time free to service customers • Growing the business • through allocating effort to customer/product selling

  9. Decisions • decide a team name (up to six letters) • for each product/customer group allocate selling effort • for each customer group allocate prospecting effort • for each customer group decide whether to research or not • allow time for servicing customer requests • total effort cannot exceed 100 (%)

  10. Results • Decisions • Actual Effort Allocation • Customer Summary • Product Summary • Customer Research • For each customer group detail product results • Results Summary

  11. Observations • it takes time to understand • but the business still must be run • so your decisions will not be perfect • time will be a constraint • but, by the end you should be just in command of your business! • your business competencies will be challenged • make sure you use the talents of your fellow team members • ensure that you allow time to reflect

  12. Your Objectives • run the portfolio for at least eight periods • make the portfolio succesful • while maintaining a presence in all areas • explore the best ways to direct effort • practice your decision-making skills • work as a team sharing understanding • HAVE FUN!

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