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Semester 2

Business Simulation (BUST08031)

Subject

Business Studies

College

CAHSS

Credits

20

Normal Year Taken

2

Delivery Session Year

2023/2024

Pre-requisites

Visiting students must have completed at least 1 introductory level Business Studies course at grade B or above for entry to this course. We will only consider University/College level courses.

Course Summary

Business Simulation is a practical, integrative business course that requires teams of students to operate a simulated start-up business. Acting as a board of directors, students set the direction for the company to build up the business by making decisions related to its strategy, finance, market, operations, staffing and innovation. It aims to foster interdisciplinary decision-making in an inexact environment and to prepare students for the problems and issues of working in a changing and uncertain world. This course has a quota of 120 students.

Course Description

Business Simulation is built around a computer-based business simulation of a technology company start-up. Students on the course are formed into company teams of six or so members who will self-allocate themselves into the different board of director roles (Strategy, Finance, Marketing, Operations, HR/Organisation and Innovation) to manage their simulated company through a series of five simulation rounds that represent two years in the life of the company. The purpose of the course is to provide an experiential learning environment where the connectivity of the different functions within a business is made explicit. Students will have the opportunity to apply their learning from the earlier elements of their degree programme to the problems presented by the simulation; and are required to develop the business, justifying and reporting the decisions they make for their simulated firm. Students will also learn via taught classes each week. These will cover (in the order indicated below) the various business functions that relate to running a business, focusing initially on lessons drawn from the simulated environment then introducing guest lectures where a practitioner will present a talk about their business experience. This provides a link between the theoretical and practical nature of business management and background and context for the various company groups in managing their business start-ups. Syllabus: L1: Introduction L2: The aims, structure and function of a business L3: Planning for a start-up business L4: Organising a small business L5: Effective team working L6: Guest Speaker: Case Example - Organising a small business. L7: Market analysis L8: Marketing and sales strategy L9: Operations management L10: Guest speaker: Case Example - Operations in a Small Business Innovative Learning Week Non-teaching week L11: Measuring business performance L12: Guest speaker: Case Example - Financing a Small Business L13: Finance options for business expansion L14: Guest Speaker: Contemporary issues in new venture finance L15: Innovation L16: Guest speaker: Case Example: Disruptive Innovation L17: Leadership in the context of small business L18: Guest speaker: Leading Successful New Ventures L19: Debrief and lessons L20: Guest Speaker: Growth Strategies and Crossing the Chasm Student Learning Experience As a course, Business Simulation is built around a computer-generated business start-up simulation. Students are formed into groups of six to be the managers of a business start-up where they have to make the necessary strategic, marketing, financial, operational and organisational decisions for their start-up and throughout the course of the simulation which over the duration of the course will represent two years of the business' operations. Group interactions allow students to learn about the issues surrounding teamwork, effective leadership and the development of social skills within organisations.

Assessment Information

Written Exam 0%, Coursework 100%, Practical Exam 0%

view the timetable and further details for this course