tablet-alt-solid Trainers Start-up - Business Simulation

Introduction

In this business simulation, students act as the management of their own start-up company that trades in sports trainers. Working in teams, students are tasked with designing their own business plan based on their internal and external analysis. Once submitted, students then need to monitor company performance against their objectives and KPIs and respond to external events that may have an impact on their company's performance. 

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Running a STart-up Company

The Trainers Start-up business simulation provides students with a practical experience of running a start-up company from scratch. They need to consider factors such as barriers to entry, the level of investment required and afforded, their human resources, as well as inventory. This in-turn will help shape their products' focus and how realistic their set objectives and KPIs are.

This simulation is highly suitable for academic and teaching staff that want to provide an experiential learning exercise for their students within the context of running a start-up company. 

TEAM-WORKING AND ROLE ASSIGNMENT

A key factor in all of our business simulations is team-working and delegation. As part of their company's management team, students need to work together to delegate their own roles and responsibilities. These roles consist of the CEO, CFO, Head of HR, Marketing Manager, Operations, and any other roles students determine are necessary for managing the business effectively. Together they share the responsibility of reaching the targets they have set in their company's business plan.

Business Plan

Once students have assigned their roles, it's time to set-up their business plan. Based on their internal and external analysis, students need to determine their product's competitive focus: cost leadership, product leadership, customer Intimacy, or a combination of all three.

They also need to set their own SMART objectives and KPIs deciding where to invest within the business to ensure these are on-track and eventually met. Within this, they need to decide how risky their objectives are. The level of risk applied to their objectives (and whether they're met or not) are key factors in earning points during each round of the simulation.

LEARNING OUTCOMES

  • Students create an effective business strategy designed to increase sales and company growth.
  • Students gain a greater understanding of the opportunities and challenges available in managing a B2C start-up company. 
  • Students learn more about the impact of external events on their company's performance.
  • Students develop effective team-working, analytical, strategic, and leadership skills.

ASSESSMENT ideas and examples

The Trainers Start-up simulation is usually assessed in several ways. Below you will find the most popular options:

  • Submit a business plan for the next financial year based on their company's overall performance in the simulation.
  • Written group report in which the teams record each round what decisions they have taken and what they think the outcomes will be. They reflect on the decisions made in each new round and continue doing this throughout the business simulation.
  • 360 Peer assessment in which students have to allocate a hundred points among their fellow team mates based on their contribution.
  • Organise a “Dragon’s Den” elevator pitch, a presentation to ‘investors’, played by the other student teams or lectures.
  • The stock exchange could become part of the assessment. Their share price or ranking position can be translated into 25% of their final mark on the module.

Case Study - Trainers Start-up at Liverpool John Moores University

"Edumundo’s excellent

Konstantina Skritsovali (resized)

support throughout our collaboration made the

 application of the simulation in the module easy and stress-free.”

Dr. Konstantina Skritsovali
 

Dr. Konstantina Skritsovali wanted to find an activity that taught strategic management theory in a more applied and practical way. In this case study we look at how the Trainers Start-up business simulation was used by her third-year undergraduate students at Liverpool John Moores University. 

Read case study - Liverpool John Moores

Content

Features
Student levels: 2nd and 3rd year UG, PG, MSc, MBA
Module subjects: Entrepreneurship, management, decision making and HRM
Language: nl gb

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WHY CHOOSE A Business SIMULATION Game?

In a business simulation game theoretical models are put into practice. They provide participants with a unique experience in which team-working, analytical thinking and insight, and decision-making skills are trained and tested throughout each round, enabling student-led and experiential learning.

Why Edumundo?

  • 20 years' experience of delivering business simulations
  • Working with 40+ UK universities and over 300 worldwide
  • In-house operations support throughout the simulation, taking the administrative burden away from Lecturers
  • Updated simulations to reflect current affairs

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