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  • 13Nov

    Sure, we all want to be CEO. But sometimes the way to the top is paved by thankless (and even payless) jobs. The nastiest of these in some ways is the internship. But what’s nice about the internship is that, unlike a low-level full time job, an internship is meant to be a temporary learning experience. In return for doing some unpleasant grunt work, the people hosting an internship are supposed to provide you with insight into the higher-level workings of the organization or the industry itself. So here are the top five tips for making the most out of your internship.

    Starting From The Bottom

    Starting From The Bottom

    (1) Be a Sunny Face – Everyone loves the person who wanders around the office with a smile. Every time you meet a new person, greet them with a firm handshake and a smile. And every time you bring the boss those papers he needed copy, smile (though not creepily) and ask him how he’s doing. People want to be around people who are pleasant to be around. People in the office are more likely to spend more time with you, giving you an opportunity to learn more, or even to consider hiring you in the future if they like you. And always, always, be polite.

    (2) Do your Research - Spend your off time learning everything you can about the industry and the company itself. The more knowledgably you can talk to a person, the more likely they are to be impressed by you and trust you with more important assignments. You will also be able to learn more during your internship if you are fully informed about the background of the work you are doing.

    (3) Write Down Everything – Every tiny, petty thing you do needs to be written down. Every time you call a person, even if you have called them before, write down their number. Every time you talk to a secretary in another firm write down her name. No matter how small it seems, there needs to be fully accountable for everything done in an office. You never want to be caught later saying that you don’t remember when you last handled a file that has gone missing, or that you can’t understand why someone said you told them something you swore you didn’t. Also, this way, when you ask for a recommendation, you can bring up specific accomplishments, since they will all be written down. Suggesting to your boss that she might want to mention in a recommendation something awesome you did that she already forgot can be helpful to the both of you.

    (4) Be Professional – Dress at the same level as everyone else in the office. Don’t get caught gossiping, don’t hook up with coworkers, and don’t waste your time (and the company’s time) on Facebook. This way, you prove to your supervisors that you can handle tough assignments and can be brought along to important meetings without embarrassing them.

    (5) Ask Questions – While your boss doesn’t want to be harassed constantly about the minutiae of her work, she will be impressed by your initiative and interest if you take the time to ask insightful questions. As an extra bonus, not only will you learn more, but you will do a better job! Especially if an assignment is a little over your head, ask. Better to be a bit of a nuisance now than screw everything up later and have everyone have to do extra work to fix it later.

    And, a bonus sixth tip! (6) Play the CEO Game and other business simulations. This way you can get more business experience when you’re at home in order to wow your bosses at work. The CEO Game is the most realistic business simulation out there — it an essential tool to a successful internship.

    Tamar.

    The CEO Game.

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  • 11Nov

    From a young age we are exposed to many myths about money and wealth. Those myths may come from our family, relatives or even friends. The myths we grow up with will have a tremendous effect on how we manage our financial wealth when we reach maturity.

    Today I want to discuss few of those myths.

    Understand the Myths.

    Understand the Myths.

    Myth #1: Work hard and you’ll be rich

    Many of us believe that having a high-level position in a company or a company of our own assures us that we are on right track for financial wealth. With so many cut-backs and financial recessions, anybody can find himself out of job at any given moment. Working hard doesn’t assure you that you’ll ever be rich.

    Myth #2: Saving is good

    From the first day that we got our first nickel, we were taught that saving enough money will mean that one day they will gain financial wealth. Can saving assure a financial wealth?

    Although saving might assure that you’ll have some money one day, it is definitely not the way to reach a true financial wealth. You should learn how to invest your money in different routes to achieve better and faster rates.

    Myth #3: Being in debt is bad

    Another myth we grow up on is that being in debt is bad and we should avoid it in any cost. Well, the truth is that not all debt is bad. It depends on what you do with the money you borrow. If you invest the money you owe in ways to gain more money then you actually use the debt to cover itself and even return an income, which is not bad at all.

    Myth #4: Investments are a dangerous business

    Many people live under the false assumption that investing in the stock market is equal to gambling in the casino; this couldn’t be farther from the truth. Investments are not as dangerous as long as you how to manage your risks.  If you truly understand the investment that you’re about to make than the risk is far lower and you know more or less what to expect.

    Ailon.

    The CEO Game.

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  • 27Oct

    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

    Serious Business Game

    Omri.

    The CEO Game.

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  • 22Oct

    Inorder to succeed in the CEO Game you need to apply real life strategies.

    For instance, in the real business world, in order to earn more than normal profit (which is zero) you need to do something better than the other competitors. Otherwise, you’ll simply maintain your position, instead of earning a real profit.


    Price Wars- Who Will Win?

    Price Wars- Who Will Win?

    It is easy to describe this problem in a simplified economy. There are two stores selling the same products in the same place to the same customers, who have complete information on the store prices and there is no additional cost to produce aside the cost of the product itself. So people will go from one store to the other to bargain until they get the minimum price of one store. If the product has the same manufacturing cost to both stores, the stores will end up selling their products in the same price. Their profit will be normal profit rate, a little higher than the interest rate.


    How do you get to a normal profit rate?

    Well, if you don’t have anything unusual like a unique product or services, trademark, patent or even knowledge that you’re other competitors don’t have, eventually you’ll get to normal profit rate. Because if you are selling a commodity and if your store is in a certain region that makes lots of money by selling a product that every one of your competitors can sell at the same price, they will. So they will start to sell the same commodity in the same profitable region and slowly decrease your profit rate. Eventually, one store will start to lower its prices in order to be more attractive to the customers and that will lower your profit rate of both stores even further. Then you will lower your price and so on and so forth–this is called a “Price war“. The only ones winning here are the customers, while you and your competitors’ loss profit until you reach the normal profit rate.


    How can you avoid a normal profit rate? As mentioned before, you need something that your competitors don’t have, such as a patent on a product or trademark, which your competitors can’t use, and therefore you can charge how much you want because you are the only one that can supply the certain good. Even a source of knowledge can be a barrier to competition, but not as strong as patent or trademark. For example, if you know in what region the demand to your product is the highest you can open the store there and sell it at high prices. But after a while your competitors will find this profitable region and start selling the same product and once again you will have a price war.

    This is just one of the key economic concepts you need to understand to succeed in the business world. In the CEO Game, as a realistic business simulation , these concepts are just as important. Good luck, with setting up your business tycoon!

    Omri.

    The CEO Game.

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  • 18Oct

    Tycoon Online is a browser-based business simulation game based on the concept of other well-known tycoon games such as SimCity, Rollercoaster Tycoon and Transport Tycoon Deluxe.  The game was  developed by Capitalist Games, and was first released in 2007. Today it includes six virtual games where each game is based on its own country: Sweden, Portugal, Turkey, Netherlands and the United States.


    At the beginning of the game the player constructs his own company at the location he chooses.  After creating the company the player can produce goods, build factories, import or export goods bought from other players or sell products on the local markets and shops. Tycoon Online also offers a virtual stock market that allows you to purchase stocks of other players’ companies and even take the over. Inside the game a player can manage production, calculate financial costs and manage human resources. The game itself has a pretty simple and easy to understand interface and allows a quick start for joining new games. Capitalist Games take great pride that their game would be fun for the whole family.


    Tycoon Online is unlike the CEO Game puts it main focus on being a game and less on being a simulation. Tycoon Online offer only basic educational values and focuses more on being an entertaining game. So enjoy it, but don’t forget to sign up for the CEO Game beta — more bang for you (free) buck!

    The CEO Game.
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  • 11Oct

    The first of two articles on the products of Tycoon SystemsIndustryPlayer and IndustryMasters. Both are online business games which join together light entertainment of multiplayer gaming with educational purposes.

    Industry Masters.

    Industry Masters.

    IndustryMasters is an online, multiplayer, business strategy game, brought to you by Tycoon Masters, a Brazilian business education software firm and is intended to replicate real world economy. This business game first saw light in 2007, subsequent to Tycoon Masters’ additional simulation game IndustryPlayer which was launched in August 2006. In IndustryMasters, players assume the role of a company’s CEO and battle one another in real time for profit and in order to rule the market and have the highest share price. Generally, the concept behind the game is allowing the players to experience the results of their actions in this real-like situation of ongoing financial strive.

    The novice CEOs (and maybe next-generation executives) who consist of business and engineering students, corporates’ trainees and amateur users; engage at running their company and must deal with all the aspects of their corporations’ business including planning strategy, financial investments, product branding, pricing, quality assurance, research and development, HR and even ecology. The game contains approximately 250 industries which are divided into 16 categories. The goal is to constantly increase the share price by making smart investments. Each week a new tournament begins, where you start out as a low level manager and get promoted with time. With each promotion the challenge and rewards gradually increase as well. The tournament consists of 100 participants hourly rounds, which represent sixty business months. Therefore, each month is one minute of game time, which in the end of – scores and market data are automatically updated. The players can play individually or group up and in the end can get analysis on their performance.

    The game is available in few editions customized for different usages:

    • Single User Simulations – Self paced study while competing with specific business scenarios.
    • Real Time Simulations – The public RTS where you compete with players worldwide.
    • Simulation Workshops – Single seminary class, lasting 1 – 2 hours, for 10-50 players.
    • Simulation Seminars – A longer comprehensive 2 days simulation.
    • Competitions Events -The game also provides a solution for extensive business competitions and events.

    Since the game was first released in 2007, it continually grows and has expanded to Facebook, the widely renowned social network, where it has nearly 3500 active monthly users. Here in the CEO Game we tackle relatively similar issues to the ones IndustryMasters deals with, with micro and macroeconomics concepts such as product life cycle, economies of scope and scale, benchmarking and much more. Moreover, we strongly believe in creating and providing a real world business environment, influenced by day-by-day events and trends, thus creating a new, addictive, easy to learn, fun to master challenging simulation which will help predict and maneuver the global economic markets.

    Omer Shachnai

    The CEO Game.

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  • 03Oct

    Predicting what the future holds for our product might be one of the most interesting questions out there, but until someone will build a time-traveling machine all we have to estimate the future are our business simulations. An example of such business simulation that assists in predicting the success of video game products is simExchange. simExchange is an online business simulation game that helps predict the success of products in the video game world by acting as a virtual stock market. The game allows players to predict the quantity of sales and types of reviews that upcoming products might get. simExchange uses the “wisdom of the crowds” to assist in predicting the future of upcoming video games.

    Well, how does it work?

    Using the virtual stock market, the business simulation allows players to predict the success of the video game/console or what reviews a video game might get. The players create these predictions by using a global stock market in which they can buy or sell stocks of the upcoming video game. Using those stocks the game tries to forecast the how one video game might succeed or fail. The trade inside the game consists of three types of contracts: Stocks, NPD Futures (Assuming Sales) and Metacritic Futures (Assuming critic reviews).

    Who uses this game?

    The simExchange business simulation has been noted to be used by real-world investors who seek data that will assist in analyzing the future of the market. Also the data received from this business simulation was noted to be used by Wall Street analysts such as Michal Pachter.

    The idea behind the CEO game is based on the same concept: Allowing the wisdom of the crowds to predict the success or failures of management process or products. This is way using the CEO game as business simulation might assist in improving your business management skills.

    Console Sales Prediction

    Console Sales Prediction

    Ailon.

    The CEO Game.

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  • 01Oct

    We’ve been doing a lot of discussing about different business simulations over the past few weeks. We’ve covered rollercoasters, lemonade stands, and even dictatorships. With all of these big, classic games we’ve been discussing, it seems that my favorite business simulation ever has been left out: Diner Dash.

    Diner Dash is all about time management

    Diner Dash is all about time management

    Diner Dash is a fantastically addictive business simulation that focuses on a much smaller world than most of the business simulations we have already discussed. In it, you are Flo, the waitress (I like to think of Flo as both waitress and CEO, since there is no evidence of other management). Just as in real life, Flo’s restaurant starts out small — two tables for two customers each. But as you become more and more successful, the Diner becomes larger, more attractive, gets accessories (such as a coffee machine) and Flo’s wardrobe even gets an upgrade! Diner Dash is all about time management and anticipating (and meeting) your customers’ needs; two things, I think, which are key for any manager. No one is born a business tycoon. We all start small — Flo’s Diner is a great place to start.
    For those of you who aren’t into waitressing, Play First, the company which produces Diner Dash (and Diner Dash 2, Flo on the Go, Munchkin Lunchkin, and the rest of the Flo series) produces a number of similarly lovely and addictive business simulations. Some of the more exotic ones are Passport to Perfume, in which you are an aspiring perfume creator,  Farm Frenzy, in which you have to do everything from plant grass to collect produce, and Wendy’s Wellness, in which you create wellness centers that promote renewal and relaxation. Whether you secretly wish to be a sushi chef or run a zoo, Play First has got the business simulation for you, well, at least until the CEO Game comes out. Just make sure you don’t start up right before you have a big assignment due — trust me, time flies when you’re playing CEO.
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