Business Navigation Game - Description Game
The management simulation game is fun and lightly tests students’ skills.
Two to five groups of students form teams − enterprises, which compete with one another with two or three products in up to four markets at the same time. At the beginning they are all in the same situation. They act entirely as independent competitors. They do not form cartels, do not conclude any cooperation agreements and do not share their experience.
Each virtual enterprise is represented by company management. This consists of 3 to 8 students. At the beginning of the simulation, each team chooses its general director, who is responsible for working with the game leader (educator). The teams also have to meet the deadline for entering their decision-making data for the game period, which comprises a set period of time – a quarter. The data for the given quarter first needs to be entered into the system and approved by the team. The data are then processed in the system and appear to users as the basis for their decisions.
Each team separately derives other partial goals from the main goal and specifies their order of priority. They then choose the corresponding actions that must be implemented in the form of decisions in the individual functional areas of the enterprise. Meeting a target indicator (e.g. cumulative profit after tax) is the criterion for assessing the success of the competing enterprises.
After the data have been entered and approved by the team, they are then processed in the system and are displayed to users as the basis for their decisions for the next quarter.
In BNS – Strategic Maps the players propose a strategy within the bounds of their competence within the enterprise. As soon as the strategy has been approved, it is transformed into a business plan corresponding to the length of the game (up to 12 periods/quarters). This plan is prepared to span the whole of the functional areas – sales performance, total cost ratio and profitability, financial performance and resources and potentials. The finished plan must then again be approved by the team representing the company management. Then, together with the plans of the other student groups, it is automatically loaded into a market simulation (LUDUS). The players of the “Business Navigation Game” then immediately receive information about how their plan was received by the market as well as source data for another forecast and another decision, which they have to implement in the following round. After the end of one quarter and before the beginning of the next, each team receives information about the results they have achieved with regard to:
- the enterprise’s balance indicators and price indices for the following quarter;
- information on the contribution to cover costs (incomplete);
- assessment of sales;
- information on market research - data on prices and sales for each business and market, advertising expenditures, market shares, business profits, product quality assessment;
- information about the enterprise’s operating activities - utilisation of machine capacity, planned and actual production volume, list of machines, status of employees, personnel costs, stocks of raw materials and finished products;
- information about the enterprise’s financial situation - liquidity development, payment terms, income and expenses of the company, interest rates, financial investments;
- quarterly balance sheet at the end of the accounting year and the balance sheet of the competing enterprises;
- income statement according to the financial accounting methodology. Based on these reports the enterprises then assess how much their decisions have helped them to accomplish their set goal. If their expectations have not been fulfilled, the strategy needs to be modified.
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