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The Introduction to Business and Strategy simulation
Target courses:
Ideal for a student's first course in business. Can also be used in a strategy and/or business policy class because it provides a realistic environment within which to practice one's strategic planning skills.
Content:
Basic concepts of business and strategy. Provides students with broad exposure to many concepts, yet keeps the fine points to a minimum.
Time frame:
6 decision rounds, with each round taking ½ to 1 hour to complete.
More details:
The Introduction to Business and Strategy simulation will give students a sample of what the study of business offers without swamping them in details. If they're looking for a taste of the business world, something to excite them, that's what this simulation will do. It introduces the participant to the basic concepts of business and strategy, providing them with broad exposure to many concepts, yet keeping the fine points to a minimum.
Students will work within a multifunctional business setting where they start up and manage a new venture. The decision content includes the basics of marketing, distribution, human resources, manufacturing, finance and accounting. Because the simulation is highly integrated, it provides an ideal platform from which instructors can discuss and illustrate the fundamentals of business and strategy.
The Introduction to Business and Strategy game is a short exercise, with just 6 decision rounds, each taking only thirty minutes to one hour to complete. The students can play against their peers or against computer-generated competitors. The "play against computer" version allows everyone to work at his or her own pace and there is no need to coordinate the play of all of the students.
Grading is based on the balanced scorecard that measures profitability, customer satisfaction, market share in the targeted market segments, human resource management, asset management, financial risk, preparedness for the future and wealth.
