CompXm Top Best Experts
What is CompXm?
CompXm is an exam that is simulation-based. CompXm involves more than remembering knowledge acquired. In most cases, CompXm is used as a final exam for program assessment and curriculum development. CompXm is used as final exam to provide accreditation data for organizations such as ACBSP, AACSB, IACBE and more.
CompXm Top Best Experts
CompXm gives a clear picture of how students can effectively use their business knowledge to manage businesses in an environment that is competitive and evolving. CompXm is done alone and near the completion of the eight rounds poof Capsim capstone simulation. Learners are usually still in groups in the last two to three competition rounds but in CompXm, each learner is the sole decision maker and CEO. CompXm is not strange to what learners have been doing previously and will be almost the same as capstone.
How to earn good scores in COMPXM exams
COMPXM is the exam done once learners are through with all the rounds of competition in capsim. CompXm exam is made up of four rounds of decision making and five rounds of board query questions.
A+ capsim hacks offers answer tips for CompXm exams to help students score the highest possible points in their CompXm exams. Here are some top CompXm tips to pass your exams;
- Calculate correctly and answer all the COMP XM board questions
Board query questions carry half of the total points to be scored. You should read and understand the inquiry file given after finishing each round for you to answer correctly the CompXm board questions. In order to calculate the calculations, you will need to apply knowledge gained in class. Always make sure you read and understand questions related to capsim before you start your capsim exams.
- Try to automate as much as possible
CompXm automation reduces the number of employees needed. By doing so, it increases profit and sales and with this increase you are more likely to increase your points. CompXm automation also increases your assets thereby helping you to score more points for assets per employee.
- Choose the appropriate marketing strategy
Compared to other strategies, there are more advantages being a differentiator. Being a differentiator allows you to extensively spend in marketing. By spending extensively in marketing, you get 100% awareness and gain 80% accessibility by the time you get to round 3. This helps you to score the highest in customer survey.
It is common for competitors to fear spending a lot on marketing. This can be a golden opportunity for you to maximize on your marketing advantage. To gain this advantage, if you spot a situation where your competitors spend less than 1500 on sales, increase your spending to 2000 or more and there will be change in level of accessibility. Because you are spending a lot in marketing, avoid charging the minimum rate. Instead, charge more than the industrial average.
- Don’t be too optimistic when forecasting
Forecasting can make you fail or pass in CompXm. When you start, divide the total expected sales among competitors. Once you complete round 1, identify your competitor’s strategy weakness and update your forecasting. For instance, if your competitor is using a cost-leader strategy, you could increase your marketing expenditure and increase your forecast sales by 10 to 20%. Using the right strategy increases your chances of leading the market and you can enjoy the having the highest market share in every round.
- Use COMPXM Total Quality Management
Make sure you spend a minimum of 1500 on each round and use all the elements of total quality management. It is important to understand that the returns of TQM are diminishing. What this means is that once you attain a certain outcome, spending any additional value will not necessarily bring any additional advantage. For instance, if you opt to spend 1500 in each strategy per round, if you spend the same amount in round 4 it will not give you any additional advantage.
You should also note that 2000 is the spending threshold on TQM element per round. If you spend more than that, it will not bring you any additional advantage. Total quality management helps you to reduce the cost of both the material and labor while it increases the demand. The main benefit of total quality management on your results is that it helps you to maximize on profits and sales thereby earning you more points in operating and sales profit. Increasing value of sales allows you to enjoy increasing share prices. This earns you points in market capitalization.
- Avoid emergency loans as much as possible
Always plan ahead your financial structure. In case you lack enough retained earnings, issue long term and short-term debts but never issue stock. If you issue stock, you will neutralize your share value thereby reducing your market capitalization.
- Be modest during research and development
Avoid frequently revising products in the thrift segment. Rather, apply marketing strategies that will allow you to win the market share. You can do by spending a lot in marketing. Be moderate in both nano and elite. Having a superior product does not always guarantee success. For instance, when you have products that are more superior, it means that you will release them later in the year thereby maximizing on sales while you reduce your time.
The overall rule is that you should update performance and size to your level best as long as you plan to release your products before October. Always check the price, MTBF, performance and expected size of the next round for all products. Remember to check how your competitors made their R&D decision and adjust yours based on the possible estimation of their future decisions. Study their decision pattern and emphasize more on the top competitor.
- Use a strategy to expand capacity
Don’t jump into increasing capacity but make sure there is room for expansion. Only expand capacity if capacity utilization is above 150%. Having a capacity avoids having idle capacity at any time. The general rule in scoring above average in CompXm is to understand and never underestimate your competitors. Make it your business to know how they produce, their pricing and predict their future decisions.
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CompXm Top Best Experts