Difference between revisions of "35NL year 2 Entrepreneurial assignment"
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== Decisions on prices and costs year 02== | == Decisions on prices and costs year 02== | ||
Check the page [[Year 1-2-3-4]]. During four years you have to take a number of decisions | Check the page [[Year 1-2-3-4]]. During four years you have to take a number of decisions | ||
* | * On prices (five decisions) | ||
* | * On costs to be made (five other decisions) | ||
== Situation == | == Situation == | ||
On the page [[operating review]] you can see how the Emerald Forest has been managed in the past. | On the page [[operating review]] you can see how the Emerald Forest has been managed in the past. | ||
You take over the hotel and have already chosen a new strategy. Now you choose the prices (five of them) which will bring revenues and the costs you are going to make on five specific choices. | You take over the hotel and have already chosen a new strategy. Now you choose the prices (five of them) which will bring revenues and the costs you are going to make on five specific choices. | ||
All choices and boundaries are explained on the page [[Year 1-2-3-4|Year 1-2-3-4 decisions]]. You will make all these decisions now for this year. After having seen the results from this year you decide on the new 'amounts' in year 2 and | All choices and boundaries are explained on the page [[Year 1-2-3-4|Year 1-2-3-4 decisions]]. You will make all these decisions now for this year. After having seen the results from this year you decide on the new 'amounts' in year 2. <br> | ||
As stated, the hotel is getting outdated and does have the liquidity to invest. Looking at the market and the cost structure, a maximum [[Investments|investment]] of € 900,000 is advised by the accountant of the hotel. Of course, here needs to be an exact plan on what to use this money for. First of all, you have to have a clear plan: what do you exactly want to do? Does this fit in with your strategy? Secondly, realize that investments bring costs, so will the revenues compensate the costs and will, in the end, the profit go up? <br> | |||
But what are you going to do? Are you going to renovate the sauna for example: what does this cost? There is only a limited number of hotel rooms upgraded and modernized, as you take over. On special request of Jill, you are going to use this 900,000, but exactly how? Make a plan on how you are going to spend the €900,000 in this year. Do not go too much in details on materials you need: but do make explicit cost groups for specific items or renovations. But no specifications underneath at least 200 euro. Always keep in mind and make clear on how many rooms e.g., you are talking about. | |||
== Goal == | == Goal == | ||
Making decisions which fit-in with your new strategy and which will keep the Bergman's as well as the customer satisfied. Regarding the costs: all of the five cost groups have not been used in the history: all of these costs will be additional to the existing fixed and variable costs. Be careful to have a balance between the total of the (new) costs, the prices and your strategy. In the end, the idea is that you keep the profit on the level that the hotel used to have. | Making decisions which fit-in with your new strategy and which will keep the Bergman's, as well as the customer satisfied. Regarding the costs: all of the five cost groups have not been used in the history: all of these costs will be additional to the existing fixed and variable costs. Be careful to have a balance between the total of the (new) costs, the prices and your strategy. In the end, the idea is that you keep the profit on the level that the hotel used to have or make it go up. Having an investment plan which is linked to you strategy and makes clear why and how to spend this € 900,000, and the results it is planned to bring. | ||
== Deliverable == | == Deliverable == | ||
The most important thing is the arguments you give in your Team File, underneath every decision. Why did you choose them? Try to find benchmarks, put URL's or links in, make basic calculations, try to predict the outcome of your decisions. <br> | |||
The most important thing is the arguments you give in your Team File, underneath every decision. Why did you choose them? Try to find benchmarks, put URL or links in, make basic calculations, try to predict the outcome of your decisions. <br> | |||
Especially looking at the costs: these are going to be additional: | Especially looking at the costs: these are going to be additional: | ||
* | * Exactly what are you going to spend the money on? and, | ||
* | * What do you think it will bring your hotel? Be concrete, also calculate. | ||
An investment plan, as realistic as possible, taking the hotels situation and your plans into account. To convince Jill, the results of the investments need to be visualized in a mood board as well: what will it look like after the investment-renovation? | |||
To | |||
== Assessed elements == | == Assessed elements == | ||
| Line 32: | Line 27: | ||
* Is there a clear link to the strategy? | * Is there a clear link to the strategy? | ||
* Are the arguments valid? | * Are the arguments valid? | ||
* Is it clear what the costs are | * Is it clear what the costs are spent on exactly? | ||
* Are there basic calculations done to show the effect of the choices at each choice? | * Are there basic calculations done to show the effect of the choices at each choice? | ||
* Is there a link to | * Is the balance between investments, ideas and renovations okay? | ||
* Are the calculations correct? | |||
* Did the team do research to find benchmarks and put things into perspective? | |||
* Are the arguments for the investment well-funded? | |||
* Are there enough real sources and prices? | |||
* Does the mood board give a good idea of what it will look like? | |||
== Handing in == | |||
Fill out all of the ten decisions in your Team File, tab Year 1-2-3 in the row year 2. You work in the cloud: no need to save (done automatically) or hand-in your Team File. Just be sure it is ready, well before the deadline. <br> | |||
Do '''not''' copy paste prices or explanation in your team File from the year before! Make 'fresh', new explanations and even when prices are alike, type them in and do not copy paste. <br> | |||
Make a document on your investment plan and upload it some where in the cloud. Put the link to this document in row 47, cell E47. Be sure the file is '''freely accessible''' without logging in or anything, just the click on the link should open it! | |||
== | == Additional information == | ||
* [[Demo Team File]] of a finished Game. Each competition is a bit different, but it will give you an idea of what a filled out Team File might look like | |||
* [[History]] | * [[History]] | ||
* [[Year 1-2-3-4|Year 1-2-3-4 Decisions]] | * [[Year 1-2-3-4|Year 1-2-3-4 Decisions]] | ||
* [[Operating review]] | * [[Operating review]] | ||
* [[ | * [[Investments]] This page also refers to a number of realistic guides on costs, when upgrading a hotel. | ||
* [[Rooms]] | |||
* [[Renovations]] | |||
* [https://roomed.nl/online-moodboard-maken-gratis/ making a Mood board (Dutch)] | |||
<br><hr> | <br><hr> | ||
Latest revision as of 14:02, 31 March 2021
→ Go! Game 35NL home | 35NL Assignments and timeline | 35NL All teams with logo
Decisions on prices and costs year 02
Check the page Year 1-2-3-4. During four years you have to take a number of decisions
- On prices (five decisions)
- On costs to be made (five other decisions)
Situation
On the page operating review you can see how the Emerald Forest has been managed in the past.
You take over the hotel and have already chosen a new strategy. Now you choose the prices (five of them) which will bring revenues and the costs you are going to make on five specific choices.
All choices and boundaries are explained on the page Year 1-2-3-4 decisions. You will make all these decisions now for this year. After having seen the results from this year you decide on the new 'amounts' in year 2.
As stated, the hotel is getting outdated and does have the liquidity to invest. Looking at the market and the cost structure, a maximum investment of € 900,000 is advised by the accountant of the hotel. Of course, here needs to be an exact plan on what to use this money for. First of all, you have to have a clear plan: what do you exactly want to do? Does this fit in with your strategy? Secondly, realize that investments bring costs, so will the revenues compensate the costs and will, in the end, the profit go up?
But what are you going to do? Are you going to renovate the sauna for example: what does this cost? There is only a limited number of hotel rooms upgraded and modernized, as you take over. On special request of Jill, you are going to use this 900,000, but exactly how? Make a plan on how you are going to spend the €900,000 in this year. Do not go too much in details on materials you need: but do make explicit cost groups for specific items or renovations. But no specifications underneath at least 200 euro. Always keep in mind and make clear on how many rooms e.g., you are talking about.
Goal
Making decisions which fit-in with your new strategy and which will keep the Bergman's, as well as the customer satisfied. Regarding the costs: all of the five cost groups have not been used in the history: all of these costs will be additional to the existing fixed and variable costs. Be careful to have a balance between the total of the (new) costs, the prices and your strategy. In the end, the idea is that you keep the profit on the level that the hotel used to have or make it go up. Having an investment plan which is linked to you strategy and makes clear why and how to spend this € 900,000, and the results it is planned to bring.
Deliverable
The most important thing is the arguments you give in your Team File, underneath every decision. Why did you choose them? Try to find benchmarks, put URL's or links in, make basic calculations, try to predict the outcome of your decisions.
Especially looking at the costs: these are going to be additional:
- Exactly what are you going to spend the money on? and,
- What do you think it will bring your hotel? Be concrete, also calculate.
An investment plan, as realistic as possible, taking the hotels situation and your plans into account. To convince Jill, the results of the investments need to be visualized in a mood board as well: what will it look like after the investment-renovation?
Assessed elements
- Are all choices made and within the boundaries set?
- Is there a clear link to the strategy?
- Are the arguments valid?
- Is it clear what the costs are spent on exactly?
- Are there basic calculations done to show the effect of the choices at each choice?
- Is the balance between investments, ideas and renovations okay?
- Are the calculations correct?
- Did the team do research to find benchmarks and put things into perspective?
- Are the arguments for the investment well-funded?
- Are there enough real sources and prices?
- Does the mood board give a good idea of what it will look like?
Handing in
Fill out all of the ten decisions in your Team File, tab Year 1-2-3 in the row year 2. You work in the cloud: no need to save (done automatically) or hand-in your Team File. Just be sure it is ready, well before the deadline.
Do not copy paste prices or explanation in your team File from the year before! Make 'fresh', new explanations and even when prices are alike, type them in and do not copy paste.
Make a document on your investment plan and upload it some where in the cloud. Put the link to this document in row 47, cell E47. Be sure the file is freely accessible without logging in or anything, just the click on the link should open it!
Additional information
- Demo Team File of a finished Game. Each competition is a bit different, but it will give you an idea of what a filled out Team File might look like
- History
- Year 1-2-3-4 Decisions
- Operating review
- Investments This page also refers to a number of realistic guides on costs, when upgrading a hotel.
- Rooms
- Renovations
- making a Mood board (Dutch)
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