The CEO Game is an online business simulation. The CEO game blog discusses plans for the CEO Game itself, the world of serious games, and a wide range of issues from technology to economics and everything in between.
How do you deal with change? How do you get your employees embrace the new changes? What is the difference between good plans and great plans? Well Patrick Dixon, which was defined by the New York Times as a “Global Change Guru” and as “Europe Leading Futurist” by Press Association, tries to answer those questions. We invite to view the following keynote by Dixon and open your mind for the change.
Ailon.
The CEO Game.
Tags: Business management, Change Management, Motivation, New York Times, Patrick Dixon, Press Association
How would you decide what is better, more important or will get you to where you want faster? How can you make your decisions better and better for you?
When you want to reach a given goal, there is usually more than one way to achieve it. There can be more than one good way to act and they might all help you to get to where you want, but for certain there is always one way which is better than the rest.
Which way to go?
You have to decide not only which ways to take, but also how much effort should you invest in each step. How would you know how to decide what’s better or more effective? Well to do so you’ll have to rank your alternatives. To rank most effectively and reach the right decisions you will have to compare the options in front of you with the main goal.
The ranking is fairly simple, the more each action assists you in reaching the main goal the more it’s important. You will have to find a link between each step and the main goal otherwise this step is simply useless. The more you will be able to connect each step to the main goal the more you will know how to rank the steps.
A right implementation of this approach will assist you in prioritizing task and in the ability to effectively choose which task or project are worth more effort and which are simply don’t. Knowing how to prioritize task is the corner stone in the CEO’s job.
The CEO Game.
Tags: Business management, business-leadership, business-logic, CEO, decision making
Getting an MBA sounds to many like a sure-fire way to advance in the world of business. After all, the more degrees you have, the more legit you are, right? Well, not really. In this world in which BAs are more common than the swine flu (over a quarter of the US population holds a bachelor’s degree), having an even more advanced degree is definitely a key to getting a good job. When you’re competing for entry-level positions, an MBA is a handy heads up on the post-college competition.
Learn To Talk The Talk
An MBA looks great on your resume. And as more and more B-schools are only letting in people with real-world experience, there is more and more to learn in business school from your peers, and you will probably get more out of it yourself when it is not just theory. You’ll probably be intellectually stimulated. You’ll make great contacts. You’ll know how to talk the talk and walk the walk. Some complain that an MBA is just a waste of money because people who have MBAs still have a hard time finding jobs, but I think that’s nonsense. Those people would probably have a harder time without an MBA. Unless you’re getting your MBA in some unaccredited school no one has ever heard of. Then you might as well save your money.
But, honestly, an MBA doesn’t create a business tycoon. An MBA might help you climb the ranks, but it isn’t going to put you at the top. What puts you at the top is your mind, your idea, your ambition. No number of classes are going to bring you that idea that will shake up the world, and nothing but real-world experience will teach you to be an entrepreneur. If anything, classes might teach you that success as a formula, they might teach you to be too formulaic and risk-averse. An MBA might help you guarantee a moderate level of success, but it might stop you from being number one.
Some of the most successful business people in the world didn’t have a BA, let alone an MBA. Just ask Bill Gates, Steve Jobs, Rachel Ray, Ty Warner or Coco Chanel if they think they need an MBA. But they had balls, insight, and determination. So save your $80,000 and the two years of your life if you think you’ve got what it takes to become a leader on your own. But if you need help, let a great B-school hold your hand on your way to the upper-middle ranks of the business world. That’s good enough for some people.
The CEO Game.
Tags: Business Learning, Business management, business school, Harvard Business School, Learning, MBA
A logo is a graphical symbol that differentiates a business from its competitors. The logo creates the first impression that is left in the potential consumers’ minds, and therefore its importance should not be underestimated. Usually, the logo presents a message that is more emotionally complex than its shape. A well-designed logo will productively present the company’s values to its targeted audience and will create a clear empathy and a sensation of safety, in the consumer’s eyes, that is needed to buy the consumer’s trust. A well-known logo is probably what will be the final deciding factor when a consumer is hesitating between products.
Choose Your Logo Wisely
Today’s leading companies acknowledge the importance of a well-designed logo. The days in which you would have hired a third grader to design your logo are gone. The logo’s meaning is so tremendous that it in most cases require a professional to create it.
Few words about logo colors- Since the logo is the face of the company, colors are highly important. From a design view, the main color takes a key role in the message we try to pass to our targeted market. From a more technical view, the more colors you use the more complex your logo becomes and therefore less understandable.
What about Fonts?
Well fonts also a have a tremendous effect on our logo design. We select a certain font to pass along the company’s message. The font creates the atmosphere of the logo and therefore it is important to choose one wisely as part of your marketing plan. The font type also reflects on the company’s image and therefore it should reflect the company’s values.
In the CEO Game, you will have the opportunity to design your own logo. This is another reason why the CEO Game is the most realistic business simulation out there. Design wisely. Your logo is another weapon in your arsenal—do you want a butter knife or a bayonet?
The CEO Game.
Tags: Business management, Logo, Marketing plan, The CEO Game
In the last few years, more and more leading companies have started realizing that not taking advantage of possible business collaborations between them will harm their goals of gaining a strategic advantage and achieving rapid growth fast. The key for quick and substantial growth is first and foremost the ability to share strategically with other organizations, including rivals.
What made this change happen?
Sharing Resources
The Global Economy- means that wares, ideas, people, cultures and services are moving freely across national borders. When you look closely at the factors that caused globalization to spread so rapidly in the last decades, you find that technology was the main factor. Technology has shortened distances, created large communication networks, allowed us to be exposed to different cultures and even improve our lifestyle. Dealing with this tremendous global space required collaboration between many business corporations around the globe, mainly to ease development and distribution efforts.
The Need For Knowledge – is growing rapidly and the knowledge to be gained is now more diverse, multidisciplinary, faster and complex. This need requires that we share with others in creating data sources that are needed in the business world. We need external feeds from different sources to enrich the organization’s knowledge, and without it the organization won’t survive in the modern business world.
The Demand for Immediacy- This is a critical factor in global economy. Everybody wants everything, faster, sooner, and quicker. In this age, when a technology can become dated faster than it was developed, it’s crucial for different organization to collaborate. A firm that insists on doing everything on its own will soon find out that it’s already too late and it missed the market. Companies that participate in these collaborations will always be faster in reaching the market, dealing with changes and empowering their synergy.
The complexity of Technology- This is the simple fact that, if we take a look at the products that we use today, we will find that most of them were not here in the same configuration only few years ago. Every product now has new features, new capabilities or is totally new. There is always a human hunger for newer and better technologies and that is why the complexity is always growing. So what is the easiest and fastest way to produce this new technology? You probably guessed it right: create business collaborations that allow the merging of different technologies and ideas to new and improved products.
Now one might ask what are the factors for a successful collaboration? The main factors are:
• Mutual interest in which each partner knows what he is getting from the collaboration.
• Organizational culture that embraces changes.
• Preliminary planning for setting the collaboration goals.
The same concept applies in the CEO game as well. It will prove to be very hard for one company to research new products, produce them, advertise them and sell them around the globe without the assistance of different companies in different ways.
The CEO Game.
Tags: Business collaboration, Business management, business-leadership, business-logic, Global Economy, Technology Complexity
In my last article I discussed the factors in life and business that we have no control over, but still affect us in significant ways. In this article, I want to go one step further and talk about “Luck” and how we can use it for our own benefit.
Creating Your Own Luck
Why do we need Luck?
Two people are applying for the same position. Both have about the same GPA from the same university. Both have a good background and experience. Only one will get the job–do you think that the interviewer will know which one is better skilled for the job? He`ll probably base his decision on factors that have nothing to do with the candidate’s skills. It might be gender, age, skin color, the ethnicity etc. You`ll never know what the final decision was based on.
People will tell you that you don’t need luck. They will also tell you that the only thing you need is ambition and hard work. I`ll give you all the time in the world, but you still won`t be able to convince me that the last person who won the lottery`s jackpot had high ambition and worked hard for that. I`m not trying to tell you to play the lottery now, but this extreme example can show us that luck is a factor in life that should be taken under consideration and for sure you want it to be on your side.
Turn your luck into calculated risk:
The lottery is not the place you want to put effort to increase your odds. This is because there is nothing legal you can actually do in order to change your odds of winning – every ticket you buy has the same odds of winning, but if you buy all of the possible tickets you will end up losing money – not a great deal. You need to increase the odds in scenarios which your actions can actually make this difference.
If you own a startup, and your main goal is to sell it to a big company, you`ll need to go out and meet with people. Make sure everybody in the industry knows you. The more people that know you, the bigger your chances are to make the big exit. There might be a chance of 1:1,000,000,000 (this number has no statistical evidence) that a stranger who has no idea who you are or what you`re doing will come up to you and ask you “Hello, is there a chance that you`re working on this startup and you want to sell it?” But if more people know what you are doing, the odds increase magnificently. Focus your efforts in the right directions and in the right places in order to maximize your chances. In this example you control your luck by letting people know about your business.
In a different example, I want to invest money in the stock market. There is a constant risk in the market; we never know what`s going to happen tomorrow, things changes constantly and rapidly. New information sends the stocks up and down without prior notice. If you`ll buy one stock, you`re relying mostly on luck. We have seen good stocks go down in good market and we have seen bad stocks flying in a bad market. Nothing we can do about it. If we want to control the luck and turn it into a calculated risk, we need to have a wide and diverse portfolio.
The statistical error:
I personally look at good luck and bad luck as statistical errors. If we`ll look at the normal distribution, I believe that if something occurs on the right side of the distribution that’s a result of good luck, if something occurs on the left side that’s a result of bad luck. The middle is where we expect the result under normal circumstances. At this point, we want to put our efforts in moving to the right side of the scale, creating, by doing so, more “good luck”.
The CEO Game.
Tags: business & investing, Business management, business-leadership, Investment, Luck, Stock Market
What’s the difference between the Chairmen and the CEO?
Chairman is the highest office in the organization (company). The chairman is the head of the Board of Directors (deliberative assembly). The chairman needs to lead the board meetings and conducts the board’s business in an orderly fashion. The chairman, as a part of the board, must appoint or approve the CEO as well as set the strategic path the company is following, by setting the annual goals and long-term programs. The chairman gives these orders to the CEO; the CEO has to follow the guidelines set out by the board while achieving the highest profit possible as the chairman supervises.
The Chairman And The CEO
The chairman is, most of the time, representative of a group of shareholders or individuals in the company. In public companies there is also a Non-Executive Director whose job is to keep the interest of the public (the small shareholders) in mind. This is because sometimes the public doesn’t have enough shares to have real power and so they need someone to keep an eye on the private representatives. The Non-Executive Director job is to monitor and alert the public to any exploitative behavior of the board to the small shareholders.
The CEO, on the other hand, needs to follow the strategic path that the Board of Directors set. He also needs to inform the board on any new developments that occurred in the market that might lead to changes in the master plan or obstacles he might foresee as problematic in the future. The CEO can also suggest strategic plans to the board but he can’t force them to approve those plans.
The CEO must also deal with the day-to-day problems such as HR, financial, marketing and logistical planning. In some cases the CEO can also initiate business plans; some boards even delegate the CEO power to change the strategic plan in case of any given event such as sharp market changes.
Omri.
The CEO Game.
Tags: Business management, CEO, Chairman
How can you best describe The CEO Game? Is it a Simulation game? Or is it a Tycoon game? A Business game? maybe its Management game?
The answer is: All of the above. The CEO Game is a management business simulation in which you play as the CEO. Your job is to increase your wealth and get rich but also to promote your company. At first you need to create your own company, analyze the market, and decide in which country you’ll build your HQ. This is a major step as once you build your HQ you can’t move it. The location of the HQ will give you some benefits in your home country and will determine the currency you mostly do business in. After this you’ll need to chose the city in which to build your stores—every city and region has its own unique population. Regions vary in the age, political leanings, and socioeconomic status of its citizens, so make sure you are selling the right products to the right population. For example, a luxury product will sell well in a region with high income and almost not at all in a low income region.
You will also have to deal with the storage and shelf life of your products. Managing the storage of your stores and factories will be easier over time after you collect some data on the sells rate. You’ll also need to manage the HR department by hiring the best employees at the lowest possible cost, as well as arrange the financial reports. If you manage to create a successful company you will be able to go public (sell your shares in the stock market) or take over other companies by hostile takeovers. As a creditor or as a major share holder you will also be able to develop new products and import and export foreign products—or even go global and start selling your product in other countries, or maybe just to move the production line to low cost manufactures contraries
You as a CEO can harvest much information from the newspaper and internet about your competitors’ stats and on macro data such as average income or interest rate. If you want to be successful you’ll need to utilize every bit of knowledge.
In summary, in the CEO Game you will aim to become a leader in the global market, a highly profitable company. You will be playing in a highly nuanced and sophisticated world more realistic than any other business simulation around. And, you will be competing against people who want it as bad as you. Good luck!
Serious Business Game
Omri.
The CEO Game.
Tags: Business management, Business simulation, Business Tycoon, CEO Game, Management simulation, Online business simulation, The CEO Game
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