The simulation is structured in 3 phases - Phase 1: Strategic Analysis, Phase 2: Strategic Choices, and Phase 3: Strategy in Action, preceded by a Briefing phase, where company and market information is provided.
You could – but you would be taking your Board Room decisions on nothing more than your own experience of the advertising and marketing communications industry, without having completed an analysis of the strategic position of the simulated company, WRSX, or having completed an analysis of the strategic choices available to it. Phase 1: Strategic Position, and Phase 2: Strategic Choices help you to understand the sector and the issues facing the simulated company.
The aim of the simulation is to teach strategy, not finance. It was therefore decided to give you a minimum of financial information rather than overburden you with financial statements and ratios.
Success will be measured in delivering shareholder value. Your share price will be made up of two factors: your financial performance in each decision period and how potential investors view your performance based on a series of non-financial performance indicators. An explanation of these – plus the 'start position' figures – can be found in the industry survey in the WRSX Group Company Profile and Report.
You can go back to the various briefing documents, video and audio whenever you like. However, once you've started with your first Board meeting (Board meeting one) and have selected your agenda items and submitted your decisions, you cannot 'resubmit' these decisions. This applies to all subsequent Board meetings – once you have selected your agenda items and your Action Option decisions, you cannot resubmit.
However, you can still view and download the information in Briefing, Phase 1 and Phase 2.
Phase 3 is about strategy in action – where you will take and submit decisions at Board meetings and consider the agenda items proposed by your colleagues. These are presented in summary memorandum format so you do not have all the information at this time.
For each Board meeting, you're presented with 6 summary agenda items. What you have to do – from the information provided – is make a choice of the 4 that you judge to be the most appropriate for your WRSX strategy to include in your Board meeting.
Having chosen 4, you can then download and view the full, detailed version of the Agenda Item – with the 4 Action Options that you have to decide between. Once you've made your decisions for the current Board meeting – and submitted your decisions – you then see your financial and non-financial results and proceed to the next Board meeting.
We've provided you with enough information to make a decision based on the time we believe you will want to spend on the simulation. A paragraph seemed like too little, ten pages per agenda item too much.
There may be relevant material you can find if you do an internet search, but remember that if you find contradictory information then you should use the simulation data and not the 'real world' data, as the simulation is set in a simulated time frame and a fictional company.
If your instructor has indicated that you are going to join a class group, your instructor will have given you details of the timetable you will follow for submitting your analysis and decisions during the phases of the simulation. You will also have been given a Simulation Group ID. Once you click on 'Go to the Board Meetings' link, you will be presented with a registration page. Select 'I want to join a Simulation Group' and enter your Simulation Group ID in the relevant box.
If you've already chosen your start date, you will have had confirmation by email. You can download all resources at any time but you can only upload your decisions after your chosen start date. How frequently you complete the phases and upload your decisions is up to you, but please remember that you have 12 months to complete the simulation.
Once you click on the 'Go to the Board Meetings' link, you will be presented with a registration page. Select ' I am playing the simulation on a self-study basis'. If you choose not to join a Simulation Group at this time, you will have the opportunity to join one at the start of each new Board meeting.
Once you've joined the simulation you will submit your decisions at each of the 6 Board meetings. Once you submit your decisions you can't revisit and revise them, so make sure you read all of the material provided to you and choose carefully. You will be asked to confirm your selections before submitting them and this will be your only opportunity to change your mind.