business simulation you own a business that manufactures computers and trades within a virtual...
TRANSCRIPT
Bishops Grade 9 EMS
Introduction to
What is SimVenture?
• 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
• designed to mimic real life decisions and enhance theory
• a resource to enhance learning
• an amazing resource if used correctly
IS NOT…• a mindless computer game to
entertain you
• designed to press buttons randomly until you succeed
• a resource to replace learning
• an amazing resource if used incorrectly
Introducing SimVenture?
https://www.youtube.com/watch?v=7TLiCfwJmeo
Basic principles of the simulation
Getting Started
https://www.youtube.com/watch?v=crpkHmCE6QQ
The SimVenture menu – decisions decisions…
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
When in doubt…
Last few things before we get going…
https://www.youtube.com/watch?v=80zwGHxq8F0
VIDEO: Finding Your Way Around
https://www.youtube.com/watch?v=02N__sMpueU
VIDEO: Making Informed Decisions
VIDEO: Evaluating Progress
https://www.youtube.com/watch?v=gjwwRkWnCUw
Time to take a test drive
Go to: Load scenario>Driving Lesson
Top Tips and Advice when using SimVentureTake Time
• Don’t rush!
• Use the ‘How do I’ section within SimVenture (See Help or Business Advisor)
• Stop and read the theory before continuing to learn form mistakes.
Create Demand
• Undertake Market and Competition
• Design and price your product better than the competition and appeals to your chosen market sector.
Top Tips and Advice when using SimVenture
Be Patient, Think and Adapt…
• Don’t expect immediate results
• Orders take time to filter through.
• Undertake regular ‘Customer Research’ to see what people think of what you are offering & adapt accordingly.
Manage Money & Growth
• Once you have sustainable orders - manage costs & raise more capital through the means provided if neccessary.
• Don’t ‘overtrade’ – cash flow is the number 1 killer in SimVenture…
Top Tips and Advice when using SimVentureLook After Yourself
• Long hours + low pay + poor profits = tired & stressed little bunny!
• This causes inefficiency and adversely affects your business (Click ‘Efficiency’ on the Menu bar for more info).
Grow Your Business
• Grow your business in line with demand.
• Hire employees, relocate and providing necessary training.
• Invest where necessary in new resources and contract out production
• Use consultant advice so that you are not overwhelmed by the needs of your own company.
The Status Bar Explained
EnquiriesHow many people enquired about your product last month. Enquiries are good, but they need ‘converting’ into orders.
Orders Number of orders taken this month. Brackets show how many computers this amounts to & value of order when payment is settled.
Sales Orders and (in brackets) units being shipped this month & value of those shipments.
Profit/Loss Difference between income(revenue) and spending for last month. Click for Detailed Profit & Loss Report
Bank balance Your current bank balance.
Income Money coming into your business during the coming month.CostsMoney you are spending this month.
TimeIndicates hours you have available to work this month. EffortHours you need to complete your planned tasks this month.
EfficiencyShows 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!
New Game SettingsMarket Conditions - affects confidence levels of
potential customers and likelihood of them purchasing your products.
Market Spread - affects variation across the 6 Target Segments within the simulation and the
possibility of a 'gap' in the market.
Interest Rate - affects the cost of borrowing and returns from positive bank balance.
Supplier Price - affects the cost of essential components and in turn your ability to create a
profit margin on each product unit you sell.