Our highly interactive Business Simulation can be used in a myriad of ways: as a stand-alone training tool, incorporated into any entrepreneurship or business course, or as a team-building activity for a small group. By assuming the role of manufacturers and retailers in a simulated business environment, participants make decisions about realistic challenges they face, including pricing, costing, financial planning, and reacting to unexpected events. Participants develop practical skills in financial literacy, record-keeping, risk management, and taking initiative. The simulation provides a safe setting to experiment with new behaviors that lead to more successful business strategies – such as being a better communicator among team members, competitive analysis, or using a win-win style of negotiating – all while having fun. The Business Simulation consists of four modules described below.
Business Simulation
Duration
Language
Outcomes
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Module 1: Experience the life of an entrepreneur, including income allocation, selling on credit, managing cash flow, record-keeping, and coping with unexpected events
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Module 2: Expand a small business and practice dealing with supply and demand, effective business planning, and costing
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Module 3: Explore the 4 Ps of marketing, advanced record-keeping, business planning, and decision-making around division of labor
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Module 4: Run a complex business, including expanding the product range through diversification or specialization, high-stakes decision making, and operating within a changing market
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All Modules: Develop inter-personal skills vital to business success such as teamwork, communication, organization, negotiation, and making compromises
Key Features
Hands-on application of business concepts
Audience
Youth and adults with a range of experiences and literacy levels