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Caplab Reflection - Tutorials 1 and 2

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29 views2 pages

Caplab Reflection - Tutorials 1 and 2

Uploaded by

reichelmendoza
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Capitalism Lab Tutorials 1-2 Reflection Paper

When I successfully purchased the Capitalism Lab simulation game, I was truly
enthusiastic to try it out since I’ve always been fond of computer applications such as these.
Additionally, I was quite interested in the goals of the game which is to teach business students
and aspiring entrepreneurs like myself how to operate and make strategic decisions for a
business.

The first tutorial – Budding Entrepreneur, introduces users to the basics of the game’s
interface. In this tutorial, I also learned how to build my first retail store, how to stock it with
products, and how to sell them. My first task was to hit $40 million. Given our group’s chosen
company – Monde Nissin Corporation- I aim to curate my retail stores with products relating to
the company: food. This first tutorial truly was a learning curve for me because of the
troubleshooting I had to do since I would make a mistake in adding or choosing products.
Moreover, I learned how to strategically choose a location for my retail store, since the prices
vary depending on the location, amount of foot traffic, and if there are currently residents
situated in that said area. Would I settle for a lot area where the foot traffic is estimated at 15, but
would only cost me less than $10 million, or should I place my retail store near establishments
like the stadium, which would guarantee high foot traffic but would cost me almost $20 million?
– That is the question I asked myself while doing the tutorial. In the end, I was able to operate 2
retail stores and achieve the goal of $40 million in no time.

Furthermore, the second tutorial – Retail Management, takes my experience to a new


level since it is more advanced than the first one. Although we still focused on managing my
retail stores, it taught me to grow them by expanding into other cities. It gave me a perspective
on how my store looks like by showing me actual photos of the interior, which for me adds to the
overall visual experience of the game. More importantly, the second tutorial gave emphasis on
teaching users the importance of understanding purchases and sales, as well as the supply and
demand, and suppliers, which all have a significant impact on how my products will perform in
the market. With adjustments made with my current firms, I was able to meet and even exceed
the goal of $5 million annual operating profit and the annual revenue of my corporation.

My overall experience with the first 2 tutorials was indeed a very insightful yet exciting
learning period. Although I would make mistakes, I am still hopeful that I would get the hang of
it as I go along the game. Moreover, the Capitalism Lab is really helpful and can serve as a
stepping stone for business enthusiasts to learn how to run a company or corporation, and how to
dominate the industry. This game also provided me with extensive information about my
company like its financial performance, industry overview, my suppliers, and even my
competitors. Indeed, I am optimistic that I can achieve all the goals of the game and improve my
strategic decision-making.

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