FE FINAL - Upon establishment of our Free Enterprise...

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Upon establishment of our Free Enterprise Business venture we had to make some decisions about how we would approach building this business from the ground up. We started off in Boston, Massachusetts for a number of reasons. One being that the size of the city wasn’t too vast but there were enough people to create large markets for a number of different products. Another being that our product of choice wasn’t being manufactured by anyone else in the area. The initial product selected by the team was Lawn Edger’s. We chose this garden product because of its versatile raw materials and decent success in individually operated simulations. This product turned out to be very appropriate and profitable for our team. Once we gained a significant amount of capital from edger sales our next move was to manufacture and sell one of the raw materials used for edgers, steel cases. Steel Cases weren’t as profitable but allowed us to further expand our production operations. After entering the steel case market we then turned to chain saws. Chain saws are a part of the garden family so we were able to use raw materials in previous operations for production. Chain saw sales became very stable bringing in an average of about 100k a month. Once we gained about 41% of the chain saw market share we expanded once again. Routers were the next product which did extremely well, we ended up controlling 66% of that market and made over 100k for most of the months we manufactured them. Our product selection turned out to be very smart and lucrative which in turn made us a lot of money in our simulation. It didn’t take long to realize that frequently expanding our product lines and eventually the product mix would become a very productive strategy. As the Production and Operations Manager it was my job to oversee a lot of the logistics and data of initially getting our business started and running smoothly. Before we got started there were two major questions that needed to be answered. What were we going to produce and
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where were we going to produce it? After running some free enterprise trials and getting some feedback from members of the team we decided to go with a city with a fairly large population but not too massive. We agreed that Boston was a good choice because it had a large population with 574,283 people living in the Metro Area and 5,455,403 total. This was perfect for us because it’s smaller than New York (which has over four times the total population) and the average salary wasn’t nearly as high. Boston was so appealing because we could still reap the benefits of a large city such as large markets for raw materials and a good selection of factories without drawbacks such as workers frequently complaining about pay. The Average Salary in Boston is $59,244.64 as opposed to New York which was around $78,000. After selecting a city, the next step was to pick a product we thought would be successful.
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FE FINAL - Upon establishment of our Free Enterprise...

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