UnEARTHing Iowa, College of Growth in Iowa
 Daniel Hanawalt |
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| Alexandria Reiser 
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Andy Conyers |
This afternoon, this pilot group at Leadership Iowa University was able to experience a real-time business simulation in which teams of 3-4 were able to choose various agricultural products to manufacture/distribute in a competition to see whose stock price was highest after sixteen quarters (four years); simulated in about an hour and a half. I thought that this was a great experience. Our team, Gamma Foods, learned a lot during the course of the simulation. One: it's good if your computer has Adobe Acrobat Reader so it is actually possible to see the charts, balance sheets and various levels that the company was performing at. Two: the price is a main factor in determining how much product was left at the end of the quarter. Three: As our team became more diversified with our products, it was a bit tougher to keep my concentration on each and every aspect that was needed for success in the business as a whole. I can see why a business needs multiple leaders in various levels of the organization; each focused on a different component of the mission of the corporation.
Our company had a bit of trouble with the pricing strategy for our Cereal line. The price was too low and we were master marketers, so at the end of every quarter, we were always out of inventory. We reacted every quarter by raising the price, but never nearly at the level that we should have, so it was a continuous process. Finally, at the end of one of the quarters, we decided to jack the price up into the stratosphere, and as a result we lost nearly our entire market share. Towards the end, it rebounded and we got back in the game, jumping up three spots in the last quarter. I think that given a few extra quarters, Gamma Foods may have advanced to third or better at the very least.
All in all, it was a very educational, worthwhile, fun experience. |
Aug 11, 2009 9:22 AM
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Leadership Iowa University is a program of the Iowa Association of Business and Industry (ABI) Foundation. The program is designed to bring together two ABI Foundation programs, Leadership Iowa and Business Horizons, to create a unique opportunity for college students. Leadership Iowa University will educate, inspire and develop young leaders as the foundation for Iowa’s future economic growth and encourage their on-going involvement in local communities and the state to create a better future for all Iowans. |  |
