AIMA BIZLAB is a simulation exercise of running a profitable and sustainable company to help the player in becoming a market leader and a successful manager by:
Product design is not a department per se but a group of people from other functional areas including marketing, research, finance and operations. People in product design are responsible for creating new products as well as deciding on updated specs and pricing for existing products.
Your Marketing Department prices and promotes your products. It interacts with your customers via its sales force and distribution system.
Your Operations Department determines how many units will be manufactured during the quarter. It is also responsible for capacity augmentation.
Your Finance Department makes sure your company has the resources it needs to run through the quarter. The department can raise money via long term loan or by issuing shares.
HR department looks after employee recruitment (or layoffs), innovation as well as training.
The Special Projects department is responsible for conducting special project initiatives geared towards
Performance of teams is measured via Balanced Scorecard. Balanced Scorecards allow companies to gauge their performance by assessing measures in four categories:
Note that on each parameter, a score between 0 and 100 is generated. This is not the same as the KPI value. For e.g. a score of 0 on stock out costs means that the company is losing a lot of business due to stock out. A score of 100 would mean there is no stock out and demand is sufficiently met. Similarly, a score of 20 on market share doesn’t mean that the market share is 20%. Actual Market Share could be very low (<10%) which resulted in a score of 20 out 100.