User Account

All Pages

Food truck challenge

Assignment Help Business Management
Reference no: EM133093008

In the food truck challenge, you are trying to run a successful food business in the city of Boomtown and win the ‘Food truck Challenge'. You play 5 rounds total. In each round, you make decisions about where to park (location) and what menu item to offer in hopes of finding the best menu-location combination and yielding the highest sales. Based on initial market data, you have to decide whether to a) go to scale right away with the food truck b) conduct further research and analysis, or c) experiment with a low-capacity pushcart. Answer the following questions based on your experience with the challenge.

1. In your initial choices with the ‘Food truck challenge', did you a) go to scale right away with the food truck b) conduct further research and analysis, or c) experiment with a low-capacity pushcart? Explain the reasoning behind your choice.

2. How did you assess market feedback? Did you modify your choices as the simulation went on?

3. Which strategy dominated the winning strategy in our class for the ‘Food truck challenge', based on the final leaderboard you observed? Why do you think this was the case?

4. If you could do over the simulation for an established market (instead of a dynamic and changing Boomtown), what (if anything) would you do differently?

5. Identify and explain two key lessons you gleaned from this exercise.

Reference no: EM133093008

Questions Cloud

Obesity And Abuse Of Power : Discussion we will be examining how we might use eating as a coping strategy for emotions and influence of social and cultural factors on the individual psyche.
How will that affect scope-costs and schedule : How will that affect scope, costs, and schedule? Should you "crash" the project or use another approach? What will determine your decision?
Determine factors affecting decision implementation : Examine the process involved with problem formulation. Determine factors affecting decision implementation. Evaluate ethical implications of a decision.
Strategically determine effective ways to set-achieve goals : Organizational Leaders consider various concepts in order to strategically determine effective ways to set and achieve goals.
Food truck challenge : In the food truck challenge, you are trying to run a successful food business in the city of Boomtown and win the ‘Food truck Challenge'.
Multi hospital systems : For multihospital systems, scenario analysis has both advantages and disadvantages. Assess whether the advantages or disadvantages are greater.
Cash accounting methodology-accrual accounting methodology : Compare and contrast cash accounting methodology and accrual accounting methodology in order to illustrate how each works best for different types of companies.
Project communicated to organization management team : How do you know the current status of your project? How is the current status of the project communicated to your organization's management team?
What are some of internal controls dixon : What are some of the internal controls Dixon, Illinois has implemented to prevent fraud in the future?

Reviews

Write a Review

Business Management Questions & Answers

  Twisted pairagile systems developmentone category of

twisted pairagile systems developmentone category of transmission lines used in networking uses a pair of wires twisted

  Give an example of one or more leadership failures

After reading the article, give an example of one or more leadership failures that you are familiar with. You may use an organization, group

  Describe future value of annuity

Describe Future value of Annuity and explain how you can apply it to increase success in your career in a real-world scenario.

  Exponential smoothing with smoothing constants

Based on MAD, which model is better, a 6 month or a 4 month moving averages? Based on your selection, what is the forecast for month 25?

  Eu market by setting up operations in france

If a locally based manufacturing firm with sales of $350 million decided to enter the EU market by setting up operations in France

  How seven tools of quality can used to improve your company

Using your current workplace as an example determine how the seven tools of quality can be used to improve your company.

  Define workers'' compensation and employers'' liability policy

The workers' compensation and employers' liability policy has three parts. Which of the following is not a limitation or exclusion of part 1 of the workers' compensation

  Things that you could cover in a coaching session

Refer to the scenario description and the information provided on Joseph and list 3 things that you could cover in a coaching session

  What are the impacts of generation y and z on the tourism

What are the impacts of Generation Y and Z on the tourism and hospitality industry? Explain

  Do you think that business use of internet

Do you think that business use of internet, intranets and extranets has changed what business people expect from information technology in their jobs? Explain.

  Show changes in economy and consumption

Changes in Economy and Consumption - How have the changes in the economy led to changes in the consumption process?

  Why is networking so important to job seekers

Why is networking so important to job seekers? With whom, where, and when should you network?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd