Venture Strategy

The Venture Strategy simulation provides your students with a safe virtual environment where they can experience what it takes to start a new business venture. Just like in the real business world, your students will analyze the market and evaluate various business opportunities. They will develop the initial business strategy and launch their new firm. They will design and test market their products,
study customers' feedback and competitive data and make adjustments to their strategy. Midway through the exercise, they will be able to pitch their plan to outside investors in order to attract additional funding for their new firm.Your students will manage their strategy in a fast paced market where innovation is essential, customers demanding and competition fierce, with the goal to build a profitable company.

Content

This business game exposes your students to all the aspects of business including:

  • Marketing
  • Product Development
  • Fundamentals of Manufacturing
  • Accounting
  • Fundamentals of Finance
  • Financial Analysis
  • Business Partner Negotiations
  • Human Resource Management
  • e-Commerce

Storyline

In the Venture Strategy simulation, your students are provided with the seed capital to start up their new venture. They have limited financial resources and complete accounting responsibility. They build a factory, open up distribution channels, design brands, as well as advertising and web marketing campaigns. They 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 students’ firms can receive additional funding from the Venture Capitalists. They can invest this money in new R&D, bring out improved products, expand their distribution and production capacity in order to maximize their business performance.

Target courses

  • New ventures
  • Business policy
  • Entrepreneurship
  • Capstone business courses.

Time frame

6 rounds, with each round taking 1½ to 2 hours per student.

Grading

Grading is based on the balanced scorecard that measures profitability, customer satisfaction, market share in the targeted market segments, human resource management, asset management, financial risk, preparedness for the future and wealth.


Play options

Your students can compete against their peers or against computer-generated competitors.

The "play against computer" option allows everyone to work at his or her own pace and there is no need to coordinate the progress of all of the students.

Languages

English, Spanish, Lithuanian, Brazilian-Portuguese, Korean, Polish and Chinese(simplified) - "Play against Peers" option

English, Spanish, Lithuanian, Brazilian-Portuguese, Korean, Polish and Chinese(simplified) - “Play against computer” option

Further reading

Read Dr. Ernest R. Cadotte's chapter from the Annals of Entrepreneurship Education and Pedagogy.

The use of simulations in entrepreneurship education

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