Entrepreneurship and New Ventures Simulations

What is Marketplace Live?

Marketplace Live screenshot of brand design workspace

A family of visually rich, web-based simulations
An award-winning experiential learning tool

Let your students experiment with entrepreneurship strategies in an engaging game-like exercise. They launch new products to the market and manage the entire product life cycle, from introduction to growth to maturity. Learning content is gradually and purposefully introduced as the market evolves.

Available Simulations for Entrepreneurship and New Ventures

 
Introduction to Business and Strategy
First course in business, strategy and/or business policy courses
 
Venture Strategy
New ventures, business policy, entrepreneurship, capstone business courses
 
Conscious Capitalism
Integrative business courses with a focus on business ethics or corporate governance
 
International Corporate Management
Integrative business courses, international business courses

 

Instructor Benefits

instructor interface of Marketplace Live software
"Thank you and the Marketplace Live team for a great semester. My entrepreneurship students learned a lot through the simulation. I plan to use it again this next semester and have invited one of our adjunct entrepreneurship professors to use the simulation"
- Ross O.
Dallas Baptist University
Easy to setup and manage
  • No software to download
  • Point and click game setup
  • Sample syllabus, presentations, coaching tips and more
  • Fast turnaround of quarterly results
Quick ways to stay informed
  • Strategic highlights of decisions
  • Results summaries
  • Automated coaching assistant to identify player weaknesses and opportunities to improve
Rigorous yet easy grading
  • Performance measured by Balanced Scorecard
  • Online peer evaluations
  • Automated tool that ranks and grades student performance
  • Online, objective assessment

Student Benefits

report screen within Marketplace Live student software
 
  • Access the simulation from any device with an Internet connection
  • Learn to start up and run a new venture with performance-based management
  • Promote better decision making by managing an integrated business
  • Build confidence and experience by testing ideas and learning from the results 
  • Focus on the bottom line and delivery of customer value
  • Develop strategic planning and tactical execution skills using market data and competitive signals to adjust responses

 

Core Content

Entrepreneurship Start up and run a new venture.  Students face new issues, decisions, and information as they naturally unfold over the life-cycle of a company/product.  A pitch to outside investors can be added to further contribute to entrepreneurial insights.
Marketing Develop, price, and promote a portfolio of brands using strategies based upon segment needs, market size, price points, competition, and ability to adapt.
Sales Create global expansion strategy based on market potential, costs, and available resources.
Manufacturing Project demand, schedule production, and invest in capacity expansions.  Manage inventory, lost sales, and excess capacity.
Accounting/Finance Review intermediate level financial statements, brand profitability reports, and industry financial ratios in order to manage operations, cash, and profits.  Plan ahead with multi-period pro forma accounting.  Work with capital structure with equity and loan options.
Human Resources Create compensation packages, including employee benefits, and affect employee productivity.
Business Negotiations Negotiate R&D license agreements.
Instructor Involvement Instructor/student interaction is encouraged.  Students are highly receptive to coaching, targeted lectures, and exercises that enhance their business acumen.  A variety of these resources are provided to help instructors.  In contrast, little effort is required to help students with Marketplace Live.  Student work is self-guided with an intuitive interface, lectures, contextualizing videos, and detailed help files.  A Balanced Scorecard is used for student feedback, management by the numbers, and grading.

Key Differences

Simulations Introduction to Business and Strategy Venture Strategy Conscious Capitalism®* International Corporate Management
Description Focuses on the development and management of entrepreneurial strategy across all functional areas and over time. Establishes the need for strategic planning. Highlights the basics of entrepreneurship for a holistic view. Focuses on the development and management of entrepreneurial strategy across all functional areas and over time. Extensive use of the tools of management is required for success.  Builds on Venture Strategy with a focus on Conscious Capitalism. Students consider all of the firm’s stakeholders and deal with HR, ethical, environmental, and sustainability issues. Provides a deep understanding of the entire entrepreneurial venture in the global market. Students must deal with complex strategic and tactical issues across all functional areas in response to evolving international issues.
Typical courses First course in entrepreneurship Entrepreneurship and capstone business courses  Entrepreneurship, corporate governance, and capstone courses Capstone, integrative entrepreneurship courses
Educational level Second or third year undergraduate students Third and fourth year undergraduates. Introductory courses at the master’s level are also viable Advanced undergraduates; MBA / EMBA‘s
Decision rounds 6 decision rounds of 60 to 75 minutes 6 decision rounds of 1.5 to 2 hours 6 decision rounds of 2 to 3 hours 8 to 12 decision rounds of 4 to 5 hours per round, 8 rounds are recommended. 
Class size 20 to 40 students. The optimal game size is 4-6 teams of 4-5 students, up to 8 teams are possible. Parallel games work well with larger classes.
Languages English, Spanish, Polish, Portuguese (Brazil), Lithuanian English, Spanish, Chinese (Simplified), Lithuanian, Polish, Portuguese (Brazil), Korean, German English, Polish, Russian, Korean English, Polish, Portuguese (Brazil)
  Created in cooperation with Conscious Capitalism® Inc
  Compete against classmates or computer (all games playable against classmates)

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