Taft Management

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Taft Management Group- A Division of Taft Family Ventures Residential Portfolio App

What's New in the Latest Version 14.6.0

Last updated on Jun 21, 2024

Thank you for being an awesome app user! We appreciate your commitment to our app. We’ve made some general improvements and bug fixed in this update.

Taft Management is a business simulation game that puts players in the role of a CEO tasked with managing a manufacturing company. The game's objective is to maximize the company's profitability and shareholder value over a period of 10 years. Players must make strategic decisions in areas such as production, marketing, finance, and research and development.

Gameplay

The game is played in a series of rounds, each representing one quarter of a year. In each round, players must make decisions on the following:

* Production: Players must decide how much of each product to produce, taking into account demand, production costs, and inventory levels.

* Marketing: Players must set prices for their products, determine advertising budgets, and choose target markets.

* Finance: Players must manage the company's finances, including issuing stock, borrowing money, and paying dividends.

* Research and Development: Players can invest in research and development to develop new products and improve existing ones.

Decision-Making

Players must carefully consider the impact of their decisions on the company's performance. For example, increasing production can lead to higher profits but also higher costs. Similarly, increasing advertising spending can boost sales but also reduce profitability.

Financial Performance

The game tracks the company's financial performance over time, including revenue, expenses, profits, and shareholder value. Players are evaluated on their ability to achieve financial targets and maximize shareholder value.

Competition

Players compete against other companies in the same industry. They must monitor their competitors' actions and adjust their strategies accordingly.

Challenges

Taft Management presents players with a number of challenges, including:

* Economic downturns: The game's economy can experience downturns, which can lead to decreased demand and lower profits.

* Technological advancements: Competitors may introduce new products or technologies that can disrupt the market.

* Changing consumer preferences: Consumer preferences can change over time, which can affect demand for the company's products.

Key Skills

To succeed in Taft Management, players must develop key skills in the following areas:

* Strategic planning: Players must be able to develop and execute long-term plans that maximize the company's profitability.

* Financial management: Players must be able to manage the company's finances effectively, including budgeting, forecasting, and capital allocation.

* Market analysis: Players must be able to understand the market for their products and identify opportunities for growth.

* Negotiation: Players must be able to negotiate with suppliers, customers, and other stakeholders to secure favorable terms for the company.

* Leadership: Players must be able to motivate and lead their team to achieve the company's goals.