Strategic Management for Competitive Advantage

2. Table of Contents

Table of Contents

3. Introduction.. 4
4. Company Performance. 5
5. Learning. 10
6. Conclusion.. 15
7. Team Performance. 16
8. References. 18
9. Appendices. 20

Strategic Management and Competitive Advantage

3.    Introduction

With a mission of producing cars for frequent use and luxury travel, which are price moderate, the HighLand aims to provide cars in the medium and luxury sectors within the European Car Market. The vehicles are designed for individuals with taste and budget, with the value of quality and worthiness. From the business game, it is seen that 49980 units of Archi M5 of luxury cars were produced, with 6840 units of deLux W7 medium cars. However, there are variations in the purchase and prices of the cars over the four years as visualized in table 1 in the appendix section.  The HighLand (HL) company targeted the 25-40 year audience to design the deluxe and medium cars, which were then engineered to come in SUV types. Additionally, the company has an ambition of rebranding its image to an automotive car producer, so it invested over £112m in the overall marketing platforms as a key strategy in developments. It is also well versed with a great competitive strategy like the PCP deals that have attracted a larger audience for its products. Highland aims to be able to sell most of its stocks and prosper in the car market.

4.   Company Performance

The operational tactics used in the business game is centered on the use of notions and concepts of the trial and speculative use of business incentives. The round one key performances focuses on the various trends of unsold stock gross margins, market shares net cash positions and post-tax profits.  During the game the Highland was able to segment its customers in the market. During the round one of the game, the user manual was reviewed to aid in understanding the working of the business game initiative for the organization. Knowledge based on the European car industry was used and roles were allocated. In the first round there was no contemplations over the gross margins showing inflations as it was the first calendar year of business. The estimated sales were by the end of the fourth year. The sales were estimated by calculated using the selling prices per unit and the anticipated production. Also, as it was the initial season of business, factors such as depreciation were not reflected upon. From the fixed selling prices only a few aspects of expansion could be put into consideration. Due to the unavailability of relative data on the customer’s preferences in round one the company relied on popularity factors. These popularity factors enabled the highland to play safely while maximising options for the design of both cars. Thus, the highland could have the least possible cars in inventory and gain enough market share. As a start-up company, there was limited financing, hence, cars were more equipped with the on recent technologies rather than quality. The company’s financial durability was low so as to not put quality into consideration. Additionally, in the first round the HL Company managed to sell out all its cars on the set higher price for luxury cars at £74,500. Thus, the aspect of unsold stock did not rise in as the company sold all of its stock in the first year.  Even though the company was successful in maximising on profit shares, the sold out cars meant an underproduction of vehicles in contrast to other challenges. Therefore, HighLand had a lower share in the market. Investigation of the European market was made to change the marketing options to secure its market shares at 5.5% in both the medium and the deluxe market.

In the next round a reduction of 3% of the estimated sales with 97% of the medium cars sold out while 70 % of the luxury sales. As aforementioned the company had limited financial ability, hence, the multiple expenses over the earnings from sales resulted in an adverse cash balance. In investment. Also, as the units produced in the initial round were less so the company resorted to increase more inroads into the different market segments. The market segmentation was done in accordance with the demographical geographical and behavioural characteristics. So, the presence and sales of cars was to been increased through promotional initiatives for £37m as they have proven to be an extremely effective marketing platform. In addition, the company also spared £30m for company incentives was it was highly effective in targeting the 41-50 age audience. The market show was to be advanced to suit the market audience of the company.  The Highland invested in £10 million in Television as it was the most effective tool for advertisement in business growth. The company put £9m to finance the Digital media to target all the age groups. Predominantly the company’s medium car Archi M5 was priced at £24500 compared to the other competitive dealers like Nissan Leaf Electric selling their car at £31,900. This competitive price advantage of lowering the price while producing the similar products gave the company an advantage in the market shares. . The differentiation strategy for the cars designs was identified and advantageous sides of the company over rivals was listed to make HighLand an abundant company. As the company tried to analyse and assess to what extent it could be different and unique in the European car industry, it put investments into producing cars at cheaper prices. The possible expenses and profits were calculated giving an overview of which step to take.The company was also characterized by unsold stock, with the luxury deLux W7 on 20%. The HighLand anticipated that the unsold stock could be sold on the next round. Furthermore, the unsold cars affected the gross margin at the first consideration as the unsold luxury cars built at 19% and the medium car at 17%. Hence, the total gross margin for both of the cars was at 18% opposite to the approximated gross margin of 20%.

In the third round there was a trial play of the first round. Round one was played play to analyse results marketing strategy and competitive advantage. The Highland had a great competitive advantage as it was well versed with competitive strategies. The targeting of the young 25-40 age group was a key factor in the 100% sales in the first year. Also, HighLand allowed its customers have a down payment of 5% of the actual price on the medium car. The rest of the remaining amount could be paid by instalments in 60days.  New car designs were lunched in high-tech in view battery and improved build quality of care. This has made HighLand cars stand out from competitors like Toyota and Nissan. On the matter of production, the challenge of unsold stock led to a reduction in the units of cars produced. The employees who had been adopted at the first round were retained to ensure improved productivity. Hence, there was a significant rise in production. The company engineered an SUV model type variation for both the car types, thus, the variety of options to customers boosts the price. The effect of the rise in price led to an increase in the monthly bill to £35. As mentioned earlier, the Highland produced medium cars at a lower price than competitors, so, it was able to sell most of its stocks with only 7% remaining. The number of unsold stock was reasonably lower than that pf the competitors as the rise in production to 50,000 units of cars. The gross margins were affected and the anticipated results were lower. Having set the gross margin for the luxury car at and the medium car at 27% the drop in the results were affected by unsold stocks. The promotional strategies for Highland Company was set and the campaigns to maximize sales and gain market share was defined to increase the number of sales. The sales records increased due to the improved production and manufacture of new advanced hi-tech car technologies. Additionally, with the increased production forecasts, the requirements for additional labour costs and materials increased. While calculating the post-tax income, the amount of initial stock and options had not been considered. Consequently, the company experienced a complex material cost with additional units of cars being produced and not being sold.  On meeting two models on the company were to be produced alterations on financial decisions updating forecast form

From round one the target was of the closing bank balance was at £1 billion after tax, however, the target was not met with the closing balance at £0.95 billion. Some of the performance indicators aligned with the business strategies while others were not achieved. In the fourth round, as the company has been able to targets its audience with a Personal Contract Purchase Deal (PCP) deal which follows a structure which has been able to improve the financial system of the company. The end of the company’s fabrication was at 80%. The final market share in the fourth round in both the medium and the luxury market was a mere percentage away from the stated objective. The company had a great market share producing advanced vehicles, this brought it to the level of its competitors. On reducing some of the prices due to the initial amount of unsold stock, the luxury cars got a higher sales rate in the market. Also, the gross margins were increased to 6% on the medium cars ads they are more prevailing in the market. Still, the gross margins results we got were not the expected results. The city car was at 30% instead of the estimated 34% while the medium car was at 40% surpassing the estimated 32%. In total the gross sales were elevated to 37% as the medium cars got more sales at the end of our rounds. The brand image of HighLand was higher as it designed the low emission cars which attracted more customers. Thus, the market shares increased by 1% gaining popularity than its competitors in the market. So, it was more popular amongst people being a new brand .In the post-tax revenue sector, an inconvenience in the rates of interest in the current bank account was experienced. The interests on the lending options also proved strenuous for the company. The company’s focus on market research has made it minimize closing inventories is estimated at 12%.  From the data source and a reporting frequency used the target customer were identified not to be limited to the young generation only. The various car designs and the new design on the third round, including body types, engine type, and size options and other popular aspects were preferred by all age ranges.

On exploring the given graphs 3 and 4 from the appendices section various conclusions on the development of the HighLand company can be addressed. As seen from the tables the Highland company has been facing various strenuous issues that affects the development of the company. Initially, the company started with selling out of stocks and a great gross margin. There has been an unswerving increase in the creation of the units of cars in the various Rounds. Surprisingly, the company has been encompassed by reducing gross margins and lowered post-tax profits. Considering the various negative factors, HighLand should lessen its expansion realistically and focus on producing only cars that bring in loads of money. The company could abandon the products that do not have a ready market and invest on other products that may earn it handsome profits for the industry. Instead of concentrating on the multiple profits that do not come about, HighLand should increase its inventory on different products. The inconsistency of the company in the market share is seen as a few of the aspects of the company are market motivated therefore, some of the sectors are lagging behind. So, the company has to reduce its market share by engaging with the slacking essential aspects.

On the non-financial aspects of the Highland Car company, in the last two Rounds the capacity utilization for the employees reduced to 45% as compared to the initial 100% in the first stages. The initial number of 1950 employees from the beginning has been retained with the wages of £ for every employee. The staff being paid a higher rate of £450 than the usual minimum has motivated them to do quality work and minimise on the overall number of strikes in the company. Yet, the excess payment of the employees as compared to the budgetary statistics shows a misuse of income. Additionally, the plans on implementing trainings has strengthened the workers’ productivity and safety measures. The availability of skilled personnel and experienced workers has led to reduced risks of harm and other hazards in the company.

On analysing the company’s techniques in the four rounds, economic and non-economic aspects have been reflected upon. Business forecasts and the background of sales, money and invention are vital necessities for the auto making industry. With the current stagnation of the European car industry, the auto making industries could put more effort in reviving the economy of the industry. The invention of the business games with humans interacting to obtain various opinions on how the cars should be manufactured has been a great in building the car industry. The production techniques and practices are useful tools in the key performances of companies. Also, the various market accounts take people of all ages into consideration as all the medium and luxury cars were taken into consideration.

5.    Learning

Regardless of the nature of the company, every organization and business is frequently exposed to multiple aspects that impact the operations and strategies the company makes. Currently, the auto making industry market in Europe has been dominated by different counties such as Italy and China which surpassed Europe in automobile production. As HighLand is an auto marketing industry in Europe, it takes drivers for change into consideration so as to put Europe back at the top as an automobile industry. Thus, the HighLand company focused on producing low emission cars which would consume less fuel. Moreover, as most of the industries in this sector are aiming for the decrease of emissions and environmental contaminants through innovative technologies that lessen the carbon in the air (Pereira, 2018). Thus, we decided on an environmental design with a low emission to appeal to the customers who are environment conscious. Additionally, with the design of the current change in customer tastes and preferences that leads to the frequent shift in the demand, we designed the cars for individuals with different tastes. The targeted age group were found to have families thus, The ArCHI m5 and the deLux W7 were engineered SUV cars that were preferred for households. The SUV could provide more comfort, space and security while minimizing on fuel consumption. As other families preferred luxury cars and a posh lifestyle, the delux W7 was still available.

The HighLand company also regarded the political aspects in Europe since the company was to operate across Europe (Balqiah et al., 2017). Most of the laws the management made complied with the laws and regulations regarding auto making industry. This could help HighLand evade pointless lawsuits that may be exorbitant and to be highly regarded. On understanding the interdependence of the car industry and the shift in the political economy, the company employed 1950 employees to work effortlessly on the cars as it was an amateur company (Wirt, 2017). This could enable HighLandt on focusing on the quality of the car so as to keep up with the government eve-changing qualities. The HighLand company could not convey long term strategies due to the multiple hesitations the government makes through always altering its laws. Additionally, the company was exposed to huge taxations through the various upsurge in rules. So, HighLand targeted a total of £9 billiion balance after all the taxations. The critical reflection on the market helped the members make the resolution to centre its vigour into focusing on the evolving economies in the European car markets. This could help in the marketing operations, thus, widening the market for the HighLand products.

The Marketing segment of HighLand was grounded on geographical, demographical, and behavioural characteristics. So, the company decided to work all over Europe as it concentrated on the 25-40 year age group in order to operate in the greatest promising way and capitalize on earnings. The individual market segment and target customers’ enabled the company to identify the different tastes and preferences of its consumersCui et al., 2018). Thus, Highland could serve its customers by designing cars that were preferred. Also, as the company operated around Europe, it took regional approach to adopt some of the features of other industries (Jacobs, 2019). For instance the personal contract purchase plan which would attract more customers over their competitors. As mentioned before, the company was full of skilled workers who to be trained as to attract more employees from the great designs made. Additionally, the increase in wages to 6% per year and a wage of £450 motivated most of the employees to work at HighLand. The company produced 49980 units of Archi M5 and 6840 units of deLux W7 while considering the condensed purchasing power of Europe due to the excessive recession.

Also, The Highand experts did a research on the market industry to customize design options into the contemporary automobile environment. This industry was encompassed by household cars as most of our target audience had families so the cars were designed in SUV styles (Rawlinson & Wells, 2016). Furthermore, due to the hike in fuel prices, the Highland resorted to building a fuel efficient car that did not take much fuel in regard to the customers’ tastes.  On request of hybrid medium cars by customers, the HighLand provided large control engines. Since customers who were buying fuel efficient and ecological cars were being provided with tax incentives, the cars were also characterized by a zero emission engine as most of the governments. HighLand provide the required designs that suited the current necessities as the people were motivated to adapt to the new changes. Highland incorporated the best technology in creating cars that ensured the safety of its customers. It also used great designs to meet the ever-changing demands of the different car designs.

Most of the vehicles were designed for ultra-low emission zones the customers wanted to conform to the passed laws that required people to practice environment friendly acts. The strict laws have ensured that we made the decision to make zero emission engines to avoid the heavy taxes that the government passed on cars that emit heavy carbon. Consequently, people are also being provided with tax incentives to sway their preferences towards driving fuel efficient cars (Reynaert, 2019). So, HighLand made a fuel efficient engine to keep up with the shifting preferences, rather than face an unfriendly market reception. Additionally, the designs of the cars at HighLand were atmosphere friendly so as to meet the different global standards and have a good brand image globally.

Globalization has affected the auto making industry in Europe immensely as competition has become harder due to the threat of foreign companies into the European market (HRainnie & Hardy, 2019). The current Europe and market is characterized by foreign competitors that harden the competitors in the auto making industry. Most of their marketing strategies and large amounts of income have enabled them to penetrate the barriers intimidating the domestic industry. Therefore, the Highland became well versed with a promotional strategy to compete effectively. The company had £112m in investments for overall marketing. Additionally, the company considered market research and invested £10m in television which was found to be 35% effective for the growth of business. Additionally, £30m was spent on dealer incentives and £37m on promotional offers. The dealer incentives could help the company in the market to trade particular cars at discounted prices. This type of financing was found to be efficient in attracting the 41-50 age category. These efficient marketing skills could promote Highland further into the market. Moreover, the promotional offers were an extremely effective platform in the marketing approach as it escalated sales and maximizes on profit. The company also invested £18m in sponsorship to save money and pull out the profits when required.

In the auto making market, the consumers were given the power to bargain on the car prices. With the customers having a trivial advantage over the companies as they could choose other producers (Berglof & Cable, 2018). Consequently, due to this power of negotiating and bargaining, the HighLand company allowed the customers to buy the medium cars by making a down payment of 5% of the total price and the rest of the amount in 60 days instalments. This could help the company hold a fair play on the bargaining power of customers. The threat of customers bargaining power could also be curbed by the Personal Contract Purchase Plan which gave them the option of changing their cars.

The company also paid attention to the Pricing of different cars as most of the competitors had the same design (Wu et al., 2019). The medium car Archi M5 was priced at £26,500 compared to our competitor Nissan Leaf Electric who priced theirs at £ 31,900. This gave the company a competitive advantage as their customers could easily switch due to the lowered costs. Producing and equal products at a lowered amount could help the company gain more market share. Also, its competitive strategy of using innovative options and a hi-tech in view of battery electric vehicle and (BEV) has made it have a competitive advantage in the European car market. Corresponding payments schemes and financial services it provides has attracted more people to use its beneficial features.

The payment schemes of the company gave it an upper hand over the other car producers, due to the slashes in pricing of the medium car. The profit margin in the company was on an upsurge due to the innovation and technology equipped in the cars. As a start-up company, HighLand had the second largest investment in R&D which could help it have the least number of cars in inventory. The company required this incentives to sustain and create a competitive edge with other start-up companies. Thus, the company created local processes that could penetrate the European market easily.

As HighLand’s mission was to produce cars for luxury travel which were price moderate and of excellent quality, we strived to produce a deLux W7 which was characterized by individual luxury tastes. The company got the deLux W7 into the luxury sector into the Europian car market with great quality and practical features (Jacobs, 2019). Thus, this could give the company an opportunity to market itself through the unique qualities wired into the new cars. Since the High Land wanted to secure 5,5% of the total market shares at the end of its 4 year test period, it produced 49800 units of medium cars which were found to be the most dominant part of the car market. 

 As the company made the decision to produce 49980 units of Archi M5 which were sold out at the first year of business. The selling out of these medium cars illustrates that the company was unsuccessful to produce sufficient units as envisaged by the zero remaining units in the appendix section. Even though the resolution of producing less units in the first trial year was factual, Highland should have placed strategies for the abrupt creation of more units the instant they recognized the sales had gone up (Hashmi & Biesebroeck, 2019). The market share as a result of unavailable stock was lowered. The irregularity due to the zero stock was unhealthy for the company as it could cause inconveniences to the demand by the customers. Moreover, the company could put tactics to put other units as emergency stock. Some of the operative plans of HighLand did not put actuality into consideration due to the zero units in the medium stock and extra units for the luxury units. The remaining units of the luxury cars were not recommended for business as they affected the income of the company. Thus, the HighLand should have centred its manufacture of units on the sales of the first products. This could have helped advance the general competence in terms of proficiency and steadiness of production.

As the company did not want to jeopardize in having many strikes, it decided to increase the wages of the employees by 6% annually. Also, the company invested £4.1m for development of the workers, where 10% was used for management training. This actions could increase the workers’ productivity and provide a highly skilful workforce. Additionally, the safety measures during emergency such as fires could be taken effectively. The more educated and experienced the personnel were, the less the risk of being harmed by industrial hazards and equipment (Rainnie & Hardy, 2019). Thus, this could build a safe working environment as per the company’s mission. The rationale of the company utilizing all its resources and resources to employ a workforce of 1950 which was way out of budget. Although this motivated the production of quality products, the high amount wages this employees got made the economic investments lower for the subsequent years. The company should have employed a lower number of people and offered the usual minimum wages as the other competitor companies. This could have helped HighLand save on the remaining bank balance to meet the targeted £1 billion balance after tax. 

6.  Conclusion

The HL corporate company was able to achieve some of its missions like providing environment friendly cars which were designed for Ultra Low Emission zones. Most of the designs of the company have been accepted by the customers as envisaged by the increasing market shares of the company in the European car market. HighLand has been able to establish its mission statement by producing medium cars for frequent use, luxury travel which are price moderate. Additionally, the company has been able to fulfil customer expectation with the outstanding quality and comfort of the two model cars. However, it has not been able to meet the targeted profit margin and bank balance due to problems such as unsold stock. Thus, the HighLand organization requires to put across better and renewed economic and tactical strategies that will direct the company forward. It could initiate making massive earnings by, acquiring different suppliers and decreasing production expenses.

7. Team Performance

 On reflecting on effectiveness of our team organization, some of the great teamwork skills and shared goals are illustrated. Through decision making and strategically planning, we were able to attain practical business skills through the business simulation game. In participating, in the group, I was able to develop effective communication skills ( Alstete & beutell, 2019). Overall, the team played the business game quite well through the team processes and decisions. Still, more organizational skills and effective delegation could have been incorporated into the decision making to produce better results. The team dynamics, composition and commitments differed in the different progressions with problems such as cultural differences which hindered effective communication arising during the simulation game.

The team was made of six participants who played different organizational roles for efficient results within the simulation. Within the organization, there was vibrant participation with great communication skills. Communication was a vital contribution to the teams’ effectiveness as people got the chance to individually reflect and criticize each other’s decisions. Those partaking in the simulation game need to have clear agendas and employ open dialogue (Vij et al., 2018)). The communication within the team required interdependence among the team members. However, during the simulation incidences, our cultural differences hindered dynamic communication abilities. As most of the team members come different cultural backgrounds, communication was difficult. It took time for the team members to understand each other during the dialogue discussions as some of the members were not well versed with the English language. The language barrier affected the efficiency of the team discussions since it took time for everyone to be on the same page. Exchanging of information proved difficult during the team meetings, thus, reducing our efficiency in the simulation game ( Chasteen et al., 2018). However, we were able to move past the cultural obstacles and make great decisions regarding the auto making industry.

Another great aspect of the team was the commitment towards participation in the simulation game ( Ruszkowska et al., 2016) We had a total of six meetings with full attendance by each of the participants. Every member was delegated with different roles in the different meetings to ensure resourceful involvement. Occasionally, the team members would assign different people to act as the organizations secretary.  With the combination of shared goals and interdependence, the team was able to forge forward with a plan on how to design the different cars in the simulation game. Negotiations were easy due to the diverse personality traits with each member contributing their individual thoughts on the game. Although there was different opinions on the business prosperity due to the different cultural backgrounds, the teams’ commitments in the simulation made the decision making easier. 

 According to me, the most difficult part of the simulation process as a team was the reluctance of some of the members to conform to various opinions. Some had their own beliefs in their agenda opinions, thus, it was hard to come to an agreement on the main agenda. In reflection, I gained some interpersonal skills such as negotiating with the reluctant members to rectify the main agendas (Rawlinson et al., 2016). Additionally, the assigning of different roles to each team member proved difficult as people had different work schedules and other obligations. The various issues that came up hindered the some schedule group meetings and previously planned group meetings that considered the different conflicting availability of all the group members. On the reflection of the meeting process, the group should have a thoughtful timing of activities given another chance to have the simulation game.

Through the simulation game exercise, the various involvements have taught me to critically asses on strategies before implementing them. Also, it has given a clear preview of the significance of analyzing different types of business industries such as the car industry. Through this exercise, I have gained knowledge that it is vital to evaluate various resolutions to correct previous inaccuracies and blunders as some tactics do not always go according to plan. Additionally, it is essential to study or adopt diverse skills from contenders to have a competitive advantage in the business settings (Teach et al. 2018). Thus, in future simulations, I will ensure to reflect sufficiently on tactics and decisions for the business.

To conclude, the business simulation exercise has helped us build interpersonal skill, interdependence, great communication and business skills. The understanding of the requirements to launch a start-up company has given us the experience to understand the various business environments.

 8.    References

Alstete, J. W., & Beutell, N. J. (2019). Business simulation and assurance of learning. Quality Assurance in Education.

Balqiah, T. E., Yuliati, E., Astuti, R. D., & Sobari, N. (2017). Corporate social responsibility: Linkage business performance and social performance. The South East Asian Journal of Management.

Berglöf, E., & Cable, V. (2018). Back in business: Industrial policy for emerging economies in the new globalization.

Chasteen, L., Szot, J., & Teach, R. (2018, March). Simulations For Strategy Courses: Difficulty vs. Realism–preliminary findings. In Developments in Business Simulation and Experiential Learning: Proceedings of the Annual ABSEL conference (Vol. 45).

Cui, L., Hu, H. W., Li, S., & Meyer, K. E. (2018). Corporate political connections in global strategy. Global Strategy Journal, 8(3), 379-398.

Grigolon, L., Reynaert, M., & Verboven, F. (2018). Consumer valuation of fuel costs and tax policy: Evidence from the European car market. American Economic Journal: Economic Policy, 10(3), 193-225.

Hashmi, A. R., & Biesebroeck, J. V. (2016). The relationship between market structure and innovation in industry equilibrium: a case study of the global automobile industry. Review of Economics and Statistics, 98(1), 192-208.

Jacobs, A. J. (2019). Car Production and the Four Phases of European Integration, 1958–2017. In The Automotive Industry and European Integration (pp. 19-49). Palgrave Macmillan, Cham.

Pereira, F. C. M. (2018). Evaluation of the business environment for use of information in the definition of business strategies. Revista Reuna, 23(3), 32-53.

Rainnie, A., & Hardy, J. (2019). Global Startegies, Local Firms, Working lives: Restructuring of polish State owned enterprises. In The State and’Globalization’ (pp. 143-167). Routledge.

Rawlinson, M., & Wells, P. (2016). The new European automobile industry. Springer.

Reynaert, M. (2019). Abatement strategies and the cost of environmental regulation: Emission standards on the European car market.

Ruszkowska, A., & Wardaszko, M. (2016). Process-oriented research method for teamwork effectiveness assessment in business simulation games. In Developments in Business Simulation and Experiential Learning: Proceedings of the Annual ABSEL conference (Vol. 43, No. 1).

Teach, R., & Szot, J. (2018, March). How students “play” business simulations and what they learn: The preliminary report. In Developments in Business Simulation and Experiential Learning: Proceedings of the Annual ABSEL conference (Vol. 45).

Vij, S., & Sharma, R. (2018, December). Experiential Learning through Business Simulation Game in Strategic Management. In 20th Annual Convention of Strategic Management Forum,“Strategy, Innovation and Entrepreneurship Curriculum in the Era of Disruption (pp. 25-27).

Wirt, F. M. (2017). Politics, products, and markets: Exploring political consumerism past and present. Routledge.

Wu, Y., Wang, X., & Shen, D. (2018, June). Business Ethics in Price Discrimination in the Automotive Industry. In 2018 3rd International Conference on Humanities Science, Management and Education Technology (HSMET 2018). Atlantis Press.

Yang, M. M., Jiang, H., & Gary, M. S. (2016). Challenging learning goals improve performance in dynamically complex microworld simulations. System Dynamics Review, 32(3-4), 204-232.

Zulfiqar, S., Sarwar, B., Aziz, S., Ejaz Chandia, K., & Khan, M. K. (2019). An analysis of influence of business simulation games on business school students’ attitude and intention toward entrepreneurial activities. Journal of Educational Computing Research, 57(1), 106-130.

9.   Appendices