How to earn the highest points in COMPXM 2020
COMPXM is an exam that is completed after finish CAPSIM competition rounds. COMPXM exam consists of four decision-making rounds and five rounds of board query questions. This article gives proven COMPXM answers tips to assist you in getting maximum points in COMP XM exam 2020.
Here are top COMP-XM guide to excel in the COMPXM exam
Correctly calculate and answer all COMP XM board query questions
Board query questions carry half of the total point to be received. To get the correct comp xm board answers 2020, you need to understand the inquiry file provided after completing each round. Besides, you also need to apply class knowledge to calculate many of these calculations. Therefore, make sure you well converse with the CAPSIM related questions before you start CAPSIM exam.
Automate as much as possible
15 points is the highest you can get for sales per employees, assets per employee, and profit per employee. COMPXM Automation reduces the number of employees that you need. Therefore, with sales and profit increasing, you are likely to earn more points by automating. Besides, automating increases your assets and thus will also assist you to earn more points for assets per employee.
Choose the right Marketing strategy
I believe being a broad differentiator has more advantages compared to other strategies. For instance, it allows you to spend extensively on marketing. Spending extensively on marketing allows you to get 100% awareness soonest and at least to attain 80% accessibility by round 3, thus allowing you to earn highest points on customer survey scores.
Most competitors are likely to fear to spend more on marketing. Therefore, it can be an opportunity for you to extend your market advantage. Therefore, whenever you spot the situation where your competitors are spending less than 1500 on sales, increase yours to at least 2000, and you will notice the difference in accessibility level.
Depending on the quality of R&D, do not charge the minimum rate since you are already spending so much in marketing, instead charge a little higher than the industrial average.
Don’t be too optimistic while forecasting
Forecasting will make or break your success in COMPXM. While starting, take the total expected sales and divide it equally among the competitors. After round 1, identity weakness in your competitor’s strategy and update your forecasting. For example, if your competitors are pursuing a cost-leader strategy, increase your spending on marketing, charge a little more, and add forecasted sales by 10% to 20%. With the right forecasting strategy, you are likely to be a market leader and thus enjoy the highest market share each round.
Use COMPXM TQM
Use all TQM elements and spend at least 1500 per each round. Understand that TQM has diminishing returns, such after attaining certain outcomes spending additional value will not bring an additional advantage. For example, if you spend 1500 per each strategy per round, spending the same amount in round 4 will not bring an additional advantage. Also note that the threshold for spending on TQM element per round is 2000, spending more than that bring no additional advantage.
TQM assist you in reducing material and labor cost as well as increases the demand. The overall benefit of this in your result is that it assists you in maximizing sales and profit, thus earning points in sales and operating profits.
Finally, with growing sales value, you can enjoy growing share prices. This will, in turn, earn you points in market capitalization.
Avoid emergency loan like a plague
Ensure you plan ahead your financial structure. If you do not have enough retained earnings, issue short term, and long term debt, do not issue stock since it will dilute your share value, thus reducing your market capitalization.
Be modest in research and development
Don’t revise products in the thrift segment often, instead use marketing strategies to win the market share (spend aggressively in marketing).
For elite and nano be moderate, since having the most superior product does not guarantee success. For example, having more superior products means that they will be released late in the year thus reducing your time to maximize sales
The general rule is that update size and performance the best you can as long as the products will be released before October.
For all the products, consider checking the next round expected size and performance, prices, and MTBF.
Don’t forget to check how competitors made their R&D decision and adjust based on the estimation of their future decision. Learn the pattern of their decision and put more emphasis on the top competitor.
Use a strategy for capacity expansion
Don’t just add capacity, ensure there is a trigger for capacity expansion., for my case, I usually expand capacity only if the capacity utilization is over 150%. Having such strategies ensure that you do not have the idle capacity at any given time.
The unwritten general rule to get above average COMPXM score is to understand your competitors and to never underestimate them. Know how they produce, how they price their product and estimate how they will make future decisions. Find the weakness in their strategies and use it for your advantage.
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