Time: 96 hours/ 5 months - you work on Virtual World Business
The Startup - Introduction to Business and Strategy - PCs Virtual World is ideal for your first course in business. Since the virtual world integrates all the functional areas of business without delving into the details, it can be used in a strategy and/or business policy class. It provides a realistic environment within which you can practice your strategic planning skills. You act as executive teams making realistic business decisions in the context of a whole enterprise. Each decision round played builds upon knowledge retained from the previous round. Learning content is presented at the exact moments when it is needed for decisions in order to increase retention and get you playing sooner. You learn to interpret market feedback, analyze competitors’ moves, and make quick adjustments to your strategy. Micro Virtual World available at critical points during the exercise cover select business concepts in more depth to ensure that you master the course material.
You take one of the roles play:
Content:
- Design and develop brands/products
- marketing
- sales and distribution
- human resource management
- manufacturing
- accounting and finance
- strategic planning
Conquering Market shares of the 4 largest cities
Business scenario
You are provided with the virtual seed capital of US$4 million to start up your business. You have limited financial resources and complete accounting responsibility. You build a factory, open up distribution channels, design brands, as well as advertising and web marketing campaigns. You hire workers and decide on the compensation packages, deal with demand projections and the basic concepts of production scheduling. After several quarters in business, your Your firms can receive additional virtual fund of US$4 million from the Venture Capitalists. You can invest this money in new R&D, bring out improved products, and expand your distribution and production capacity in order to maximize your business performance. You have to carefully study and track economic conditions around the world and project your impact on the markets in which you compete. Market potential will rise and fall according to worldwide economic conditions.
Each team is provided with the virtual seed capital:
Outcome: Do, Implement, and analyze outcome business based on cumulative balanced scorecard
Cumulative balanced scorecard
Target courses: Introduction to mid-level business, strategy, or policy courses
Time frame: 6 rounds/quarters – each round/quarter takes 6 hours per learner
Copyrighted in its entirety, Ernest R. Cadotte