How can you run a company and not worry about bankruptcy? Sim Venture!
At the RAU we already use Sim Venture Classic – the server-based business simulation game from Venture Simulations. As part of the development of our Catalyst programme courses we are looking at Sim Venture Evolution – a cloud based business simulation and strategy. Earlier today we had a visit from Lesley Strachan, Learning and Development manager at SimVenture, to show us how the system can be used to support businesses courses and facilitate learning.
Lesley spent time showing us how the software could be used within a course to allow students to start up their own business and test out ideas.
There is quite a lot of preparatory work to be carried out by academics and facilitators and they need to think about some of the following areas:
- Which scenario do you want to go for? Create a business from scratch, use start up (bicycle scenario), grow a business to 10 years old?
- Should it be run weekly? As a one-day event? As a competition?
- What about teams? Or individuals?
- How do you assess?
In the session we were provided with user logins and Lesley gave us a couple of team tasks to work through. We began by looking at 5 core skills areas (training ground, promotions, production, pricing, borrowing) and we then set up our own companies and competed to make the most profit.
Sim Venture comes with a comprehensive set of resources including over 120 single page case studies. The data from student sessions can be exported into excel and used in a variety of different supplementary ways.
It’s clear that Sim Venture Evolutions could prove to be a very useful tool for the Catalyst programme. We will be investigating using it on MBA modules and during the residential session.