Abstract
Over the last seven periods my team and I worked on an airline simulation. The name of our airline is Uno-Wolf Airways and as we did not make as much revenue as some of the competitors we were still able to come away with a positive profit. Even though we did not finish number one in overall revenue we had some really outstanding numbers. The airline simulation taught us a lot about business strategies, how to work as a team, and that every decision made has an impact on your business or company. Our company offered upper-middle class experience for a lower middle class price. We based our company off quality and reliability other than profit. This approach gave us great ratings for quality and reliability and also gave us a decent amount of revenue. Many of the other teams went without making a profit and actually ended up losing money. We were able to come in 6th place of cumulative profit with $173,229 worth of gains. Our stock price relates back to our cumulative profit, with the more successful teams having a higher stock price and the lower successful teams having a lower stock price. Our stock price came in 7th overall with a price of $23.59 per stock. The places we really showed great success were in overall quality and reliability. Our 88 score on quality scored us the number 2 spot on the charts and our 94.2 score scored us 4th place on the charts, while being just .2 points from 3rd place and only 2.4 points behind 1st place in reliability. Everything little or bug plays in the roll of how successful your company will be. Just because you get good ratings does not mean that reflects onto the revenue sheet in a positive way. You have to learn to keep ratings up, customers happy, and try to make a profit at the same time. I think we were successful by offering one of the more quality and reliable airlines. Even though some profit was made there are ways to increase it. We learned of ways to be able to have a positive profit and based off other airlines a way to take our profit and increase it to a greater profit.
SUMMARY and CONCLUSIONS: A summary of the overall results for each period (1-7) and assessing why you got the results and what you might want to do differently if you could do it over.
What you LEARNED ABOUT STRATEGY and managing a real business from the simulation write 4 points