Global Business Simulation Module (GBSM)

Participants who successfully complete the Management Series (Workshops 1and 2 are the minimum requirements) have the opportunity to apply the key concepts and techniques from the workshops through the Global Business Simulation Module. The GBS Module will help participants to not only retain their strategic learning, but to also apply them in a simulated competitive global environment.

Participants will have the option to select  a business simulation module with special emphasis in the areas of:

• Accounting and Finance
  
• Business Fundamentals
  
• Business Management
• Strategic Management
• Business and Strategy
  
• Marketing Management
• International Management

Participants will compete against the computer or other global competitors and gain hands on experience to start, grow, and sustain a simulated company competing for customers, market share, resources, and profitability. Participants will receive intermittent feedback and guidance throughout the simulation. Upon completion, participants will receive a Management Level Assessment rating which will determine which management level competency they are currently operating on and can be used to help set targets and a roadmap to achieve their desired level. Management Level Assessment ratings range from:

•  A - Senior Executive (CEO, President, COO, CFO)
  
• B - Executive (EVP, SVP, VP)
  
• C - Senior Management (Sr. Director, Director, Sr. Manager)
  
• D - Management (Manager, Supervisor, Sr. Analyst ) 
  

Participants test their finance, strategic, business development, and leadership acumens and gain understanding as to which management level they are currently operating on and can set goals and develop roadmaps to achieve their targeted level based on career goals and aspirations. 

Global Business Simulation Modules (GBSMs) are professionally designed and administered by Marketplace Live, the premier business simulation provider for the educational and corporate markets.

Theories and principles merge with real-world business applications

Storyline

Participants are provided with the seed capital to start up their business. They build a factory, open sales offices, hire workers, design brands and advertising campaigns. They will deal with demand projections, production scheduling and quality control issues. After the first simulated year in business, participants’ 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 performance in the second year of business.

Grading

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

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Ease of use

Marketplace Live is a web-based application, which participants can access from any computer or tablet with Internet connection without the need for downloads or installation. Easy to use interface guides participants every step of the way. A comprehensive help file system ensures that the information participants need is always only a click away. 

Integration of functional disciplines

Marketplace Live simulations expose participants to all the functional disciplines of business. Participants deal with the interplay between marketing, operations, finance, accounting and team management. They see how their decisions and actions affect the performance of others within the company and the entire organization. They learn to understand the linkages among the functional areas of business. Marketplace Live exercise helps participants grasp the big picture of how business operates, while providing enough detail to help them understand the nuances of marketing, operations, finances, accounting and management.

Linking each decision to the firm's cash flow and financial performance enables the participants to see and feel the financial implications of their actions. This results in a greater financial accountability and an in-depth understanding of the business enterprise as a whole. When participants finish the simulation, they feel there is a sharp increase in their level of confidence gained through new knowledge and experience.

Realistic business situations

In Marketplace Live, participants deal with decisions and situations that are commonly encountered in real-life business. This strategic and deeply tactical exercise challenges participants to collaborate, communicate and adapt to the unexpected. 3D visualization allows them to grasp the key business concepts quicker and better understand the results of their actions. Visually rich decision screens allow them to touch and feel the products they design and introduce to the market. And while all business information is still presented in a traditional form, the added layer of video elements plays out the consequences of participants' actions as life-like situations. These resonate with participants on a more personal level, which greatly increases knowledge retention.

Effective learning strategy

Rather than start in the middle of the story with a mature firm, the business simulation uses a new venture situation. Participants gradually build the business and the simulation introduces new issues as they become relevant. This approach makes the logic of business practices more intuitive. Each decision period presents a dominant set of decisions. In several rounds, participants evaluate the market opportunity, choose a business strategy, evaluate the tactical options and make a series of decisions with profitability in mind. Each period's activities build upon the prior content so that there is considerable foundation building. Business activities such as cash flow planning, value creation in product design, production scheduling, profitability analysis, and strategic planning and management are emphasized in order to set them into the participants' natural thinking.