Business simulation You own a business that manufactures computers and trades within a virtual environment. You make decisions about all aspects of business.

Slides:



Advertisements
Similar presentations
Business Essentials: Unit 3 The U.S. Business Environment
Advertisements

Determining the correct price
Introduction to Small Business
Chapter 5 The Free Enterprise System
Financial planning.  Like any preparation for the future, a business has to make assumptions and estimates about the months ahead.  Income and spending.
The Fundamentals of Enterprise Resource Planning Olayele Adelakun (Ph.D) Assistant Professor CTI Office: Room 735 CTI 7th Floor Phone: Fax:
There’s a lot to learn about money! Presented by the San Francisco Federal Reserve Bank in Collaboration with Operation Hope Why is Money Important?
Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 4 How Businesses Work.
MSE608C – Engineering and Financial Cost Analysis
Chapter 4 How Businesses Work McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
Funding Availability and Strategy for different types bank There is substantial variation among bank even in similar. The average small banks uses less.
Chapter 1 marketing is all around us Section 1.1
Chapter 3 1) What is the first step in money management? – Organize your financial documents 2) What are two benefits to having your financial documents.
Chapter 6 Saving and Investing. Section 6-1: Why Save?  Deciding to save  People save for purchases that require more funds than available, for emergencies,
AIM How can you invest smartly when stock prices are declining? DO NOW How does short selling work? SELLING SHORT AND DCA.
Lesson 10 Understanding and Using Financial Statements Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University.
8–18–1 Copyright  2005 McGraw-Hill Australia Pty Ltd PowerPoint® Slides t/a Principles of Macroeconomics by Bernanke, Olekalns and Frank Copyright  2005.
Introduction to Economics Chapter 17
Supply: banks, Fed Money ioio Federal Funds Rate Banks increase lending as interest rates rise because it is more profitable The Fed manipulates the amount.
Getting Started. Digital Safari Institute GreenBizz Project Getting Started … Being in business is a state of mind! Being in business is a state of mind!
10-2 The Financial Plan McGraw-Hill/Irwin Entrepreneurship, 7/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 10.
Cash Flow. Lesson Objectives By the end of the lesson you should be able to:  Explain the advantages and disadvantages of cash flow forecasts.  Identify.
Chapter 17 – Additional Topics in Variance Analysis
Test Drive your knowledge! See how much you know about budgeting. Click the ignition button to begin!
Economic Indicators Lauren Rudd January 9, Same store sales 01/9/20142.
Energy Economics A synthetic methane plant from coal is to be constructed at a cost of $4 billion dollars. It requires 14,000 tons/day of coal (10,000.
Building Customer Relationship “Service is so great an opportunity for the company that our vision for the next century is that GE is a global service.
Instructions for using this template. Remember this is Jeopardy, so where I have written “Answer” this is the prompt the students will see, and where.
Marketing Mix The Marketing Mix is a term used to describe the combination of tactics used by a business to achieve its objectives by marketing its products.
Lesson 8 E-PROMOTION. What is a Small Business Entrepreneur? Entrepreneur n. a business man or woman of positive disposition who attempts to make profit.
Let’s Get Real About Money!!
HOW TO CHECK MAKING PROFIT BEFORE SELLING Walks through the way to check the cost and sell return will deliver the correct level of profit when sold at.
Supply and Demand The law of supply and demand affects the price of a product An open market is when products are based on supply and demand.
9 Differential Analysis and Product Pricing Managerial Accounting 13e
Marketing Essentials Chapter 5.  Our nation is built upon freedom ◦ Freedom  What to purchase  Where to work  How to spend our money  To organize.
Circular Flow Lesson 2, Activity 5 1. Give three examples of resource owners. Answers will vary, answer can be anyone who has land, labor, capital or entrepreneurship.
Lesson Objectives: By the end of this lesson you will be able to: *Explain how firms decide how much labor to hire in order to produce a certain level.
LLLLLLLeeeeeeeeettttteerssssss. Read the definition and then put the letters in the correct order in order to find the word defined.
Sales Calls1 an opportunity to explore sales calling strategy and the financial consequences.
Balancing a budget Our goal is to learn the nuances of balancing a budget. In order to do so, we must first learn some basic economic principles. Use this.
1 Bringing the Dismal Science to Life: Lessons from Economic Experiments 2007 Capital Campus California Retreat January 19-20, 2007.
By: Yasu Gomez.  At a click of a mouse or button, you can alter your attractiveness, skin tone, gender, or age.  These “re-structured” images of yourself.
Chapter 5 Consumer surplus Household choice in input markets.
1 SMD and Efficiency Programs Standard Market Design (SMD) –Implemented March, 2003 –Major feature, locational assignment of costs and locational price.
Market economy Citizens own the businesses in the economy, not the govt. People can choose what they want to buy.
Unit 3 Accounts & Finance Financial Accounts. Learning Objectives To be able to explain the purpose of accounts To evaluate the importance of final accounts.
Profit and loss account Balance Sheet Cash Flow Statement.
Click to edit Master title style Putting It All Together Assessing the Feasibility of Your Business.
Chapter 8- The Great Depression Essential Question- How did the collapse of the economy impact the United States?
Ratio Analysis…. Types of ratios…  Performance Ratios: Return on capital employed. (Income Statement and Balance Sheet) Gross profit margin (Income Statement)
ERPsim on Paper Léger, P.M. (2011) Introduction to the business processes, ERPsim on paper ERPsim Lab.
Can you devise a strategy to keep everyone happy? Click here to start.
0 Holmes Chpt 1 Personal Financial Planning EQ = Essential Questions Knows = Vocabulary Understandings = Why learn this Dos = Skilled at activities.
The Intelliplug TVA105 is the world first “intelligent plug” that can completely eliminate standby power. Televisions typically use around 4W of Power.
Three Levels of Planning
Potential macroeconomic essay questions
Understanding Supply What is the law of supply?
© Inge Hill, Start Up, Palgrave 2015
Climbing the ladder to success.
Quick Review.
Prosper 2013 Introduction Copyright Virtual Management Simulations.
Understanding Supply What is the law of supply?
Understanding Supply What is the law of supply?
Getting Started with Simventure: Apprentice 1-5
Understanding Supply What is the law of supply?
Understanding Supply What is the law of supply?
Stay Ahead in a Changing World In the Celemi Enterprise business simulation, companies will compete for the same customers in a dynamic marketplace.
Financial Understanding
Stay Ahead in a Changing World
Pulling in the same direction
Presentation transcript:

Business simulation You own a business that manufactures computers and trades within a virtual environment. You make decisions about all aspects of business in order to survive and hopefully succeed as an entrepreneur. No part of the simulation works in isolation. Every choice you make will have an impact elsewhere. Mirrors reality as closely as possible.

IS… a highly complex piece of business simulation software a highly complex piece of business simulation software designed to mimic real life decisions and enhance theory designed to mimic real life decisions and enhance theory a resource to enhance learning a resource to enhance learning an amazing resource if used correctly an amazing resource if used correctly a highly complex piece of business simulation software a highly complex piece of business simulation software designed to mimic real life decisions and enhance theory designed to mimic real life decisions and enhance theory a resource to enhance learning a resource to enhance learning an amazing resource if used correctly an amazing resource if used correctly IS NOT… a mindless computer game to entertain you a mindless computer game to entertain you designed to press buttons randomly until you succeed designed to press buttons randomly until you succeed a resource to replace learning a resource to replace learning an amazing resource if used incorrectly an amazing resource if used incorrectly a mindless computer game to entertain you a mindless computer game to entertain you designed to press buttons randomly until you succeed designed to press buttons randomly until you succeed a resource to replace learning a resource to replace learning an amazing resource if used incorrectly an amazing resource if used incorrectly

Tools>View Notepad Remember to keep a note of all the decisions that you make. This will form the basis of your assessment. Found under: Tools>View Notepad

Load scenario>Driving Lesson Go to: Load scenario>Driving Lesson

Profit/Loss Difference between income(revenue) and spending for last month. Click for Detailed Profit & Loss Report Profit/Loss Difference between income(revenue) and spending for last month. Click for Detailed Profit & Loss Report Bank balance Your current bank balance. Bank balance Your current bank balance. Income Money coming into your business during the coming month. Costs Money you are spending this month. Income Money coming into your business during the coming month. Costs Money you are spending this month. Time Indicates hours you have available to work this month. Effort Hours you need to complete your planned tasks this month. Time Indicates hours you have available to work this month. Effort Hours you need to complete your planned tasks this month. Efficiency Shows how efficient your business is overall. Click for breakdown of efficiency in different areas of work & what is causing any inefficiencies. Efficiency Shows how efficient your business is overall. Click for breakdown of efficiency in different areas of work & what is causing any inefficiencies. Emoticon Indicates you are feeling at the moment. Click to change your hours or give yourself a pay rise to make you feel less stressed! Emoticon Indicates you are feeling at the moment. Click to change your hours or give yourself a pay rise to make you feel less stressed!

Market Conditions Market Conditions - affects confidence levels of potential customers and likelihood of them purchasing your products. Market Spread Market Spread - affects variation across the 6 Target Segments within the simulation and the possibility of a 'gap' in the market. Interest Rate Interest Rate - affects the cost of borrowing and returns from positive bank balance. Supplier Price Supplier Price - affects the cost of essential components and in turn your ability to create a profit margin on each product unit you sell.