Eureka! Institutional Repository

The aim of this report is to give an example and clarify all the procedures and the issues a management team is dealing with, while running a company. All the results published, are derive from the Greek business simulator student contest, called Business Talents. The contest took place during March 2014 and April 2014, and is consisting of 8 phases-fictional years. The management team owns a fictional company and in every phase is responsible to take decisions and solve problems in order to be profitable. At the end of this part, the company receives the results for those decisions being taken. Data as the firm’s balance sheet, operating costs, revenue, sales volume, success of advertising campaign and the overall outcome in comparison with competitors. Assessing the strong points and the weaknesses of the results, the company deposits the new decision form for the next fictional year. The contest is divided into three phases; the two first phases belong to the main competition and last one is when our company qualified to the semi-finals. The winner will be the company which succeeds to maximize its profits and overcome its competitors. Undoubtedly taking part into a competition as such contributes to expand anyone’s knowledge and to have the chance to put the theory into practice. Is an opportunity to gain depth knowledge of how the market and competition works in real situations. Last but not least, that report is aiming to be a motivation for future efforts and also a useful tool for next business competitions.