Entrepreneurship and New Ventures Simulations
Give your students the skills they need to create and manage the next big thing. Let them experience the highs and lows of starting a new venture in a business simulation. In our entrepreneurship simulations, your students will perform a business opportunity analysis, experiment with business strategies, design and launch new products to the market and manage the entire product life cycle, from introduction to growth to maturity. They will prepare a business plan and make a pitch for outside capital. They will learn to think like a successful entrepreneur.
About this Category
Marketplace offers a variety of business simulations that add a hands-on element to entrepreneurship courses. Games in this category target 2nd or 3rd year undergraduates all the way up to EMBAs. Depth and breadth of content differs across the games to provide a good fit for various time frames, class concentrations, and apportionment in your course.
Have your students compete amongst themselves in teams to leverage their competitive spirit and maximize engagement. Where available, use computer-generated competitors when administration and coordination of the teams must be as simple as possible, such as in very large classes.
Choose from two storyline scenarios. Our newest edition features an exciting storyline that revolves around 3D printed bikes.
Core Learning Content
Start up and run a new venture. Develop a new market and compete to become market leader. Pitch a plan to outside investors to secure additional funding. Pivot your strategy in response to rapidly changing market conditions.
Identify business opportunities and formulate a strategy to profitably serve the targeted market segments through interconnected tactical decisions.
Develop, price, and promote a portfolio of brands based upon segment needs, market size, price sensitivity, and evolving market feedback. Simulations in our new Bike Edition additionally feature internet marketing.
Launch new products to market. Create a global expansion strategy based on market potential, costs, and available resources.
Project demand, schedule production, and invest in capacity expansions. Minimize lost sales, excess capacity, and production costs.
Compensation & Benefits
Create competitive compensation packages, including employee training and benefits, to stimulate employee motivation and productivity.
Use the tools of financial management to accelerate growth. Analyze financial statements, profitability reports, and industry financial ratios in order to manage cash and profits. Make financial projections and work with capital structure using equity and loan options.
Key Differences Between Entrepreneurship Simulations
Introduction to Business and Strategy
International Corporate Management
|Description||Introduces students to the development 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 creation and management of entrepreneurial strategy across all functional areas. Expands business opportunities with new sales channel options and licensing negotiations. 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||Small to large classes||Small to medium classes|
|Gameplay||Compete against classmates or the computer||Compete against classmates|
|Languages||English*, Portuguese-Br, Spanish*, Polish, Lithuanian||English*, Portuguese-Br*, Spanish, Chinese, Polish, Lithuanian, Korean, German, French*||English*, Spanish*, Portuguese-Br* Polish, Korean, Russian||English*, Portuguese-Br, Polish|
*Language available in Bike edition. ¹Created in cooperation with Conscious Capitalism® Inc.
Student work is self-guided with an intuitive interface and built-in instruction — everything they need is at their fingertips. A balanced scorecard provides students with personalized performance feedback for self-improvement. As students progress through the game, business challenges arise, prompting class discussion and coaching opportunities. Time-saving presentation and syllabus templates are provided to help instructors devote time for coaching. Additional student exercises and assessments are available to further customize the simulation.
“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