Example of a Business Game
Business games are simulations that teach participants about the economic context of a , the methods of management, and how to work together as a team. They involve completing tasks and making decisions in a realistic market environment. The goal of these games is to help students understand the interrelationships between various business processes and the interrelationships between employees, customers, and suppliers. Using games is an excellent way to teach skills and develop entrepreneurial spirit.
A business game is a simulation of a real in which the goal is to grow a fictional and rank high in predefined winning criteria such as ROCE, EBIT, CO2 emissions, and so on. The team that scores high in the most criteria is declared the winner. In many cases, multiple teams compete in the same game. Since all teams begin with the same metrics, they can only differentiate themselves by making smart decisions.
Business games are increasingly being used in management training. Because they foster self-direction and active engagement, they encourage students to learn content in a fun and practical way. These types of games also encourage personal responsibility, high levels of frustration tolerance, and resilience to challenges.
Capitalism is a simulation game with two modes of play: starting your own , or playing a premade business scenario. Both modes feature different goals, environments, and competitive situations. In the first mode, you can choose a city or select a premade market and build a store or factory. In the second mode, you must manage multiple firms in order to make a profit.
Capitalism isn’t just for entrepreneurs; it can be a great exercise for anyone. In a game based on capitalism, you’ll need to build a company from scratch, compete with computer-controlled rivals, and manage the business’s growth and profitability. It’s a highly complex strategy game, which forces you to think ahead of time and make smart decisions.
The MIT business school has developed a number of simulation games, including one called CleanStart. This web-based simulation allows players to play the role of an entrepreneur who needs to keep an eye on competitors and make strategic decisions on different functions. These decisions include setting prices, hiring sales and technical staff, and devising a compensation strategy. The game is meant to foster strategic thinking and improve individual skills.
CleanStart is a web-based simulation game in which participants assume the role of a new clean-tech company. They are tasked with setting quarterly prices and hiring salespeople and engineers. In addition, they are given compensation levels for their employees. IBM has also released a version of this game called CityOne, which allows users to learn about collaborative technologies and process management. The game is divided into different sectors, including Water, Energy, Banking, and Retail.
Virtonomics is a computer game that allows players to become entrepreneurs. It simulates a business environment where players can create, develop, and expand businesses across more than 200 industries and dozens of countries. Unlike traditional simulation games, Virtonomics uses a dynamic economic space rather than an algorithm to determine the best course of action. Thousands of players can influence the state of the economy and each other’s behavior, creating a realistic market environment and a sense of risk.
Virtonomics is a massively multiplayer game that is similar to Trevor Chan’s Capitalism 2. The game requires players to analyze, strategize, and make decisions about a business. Virtonomics can help players develop real life business management skills by providing realistic scenarios and communicating with exceptional entrepreneurs in the real world.
Merchants is a game where you become a merchant in a virtual world and have to negotiate deals with rivals in order to gain profit. It takes place in 15th-century Venice and you play the role of Carlo Vecchio, a young merchant who studies under Leonardo da Vinci and Machiavelli. The game simulates six real-life negotiations and challenges you to use your skills in order to win. The game uses revolutionary gamification technologies and game-based didactic methods to help students learn how to negotiate effectively.
The game also simulates the interaction between consumers and merchants. In a typical scenario, each player chooses one of three possible strategies, with probability x. In the other scenario, the consumer decides whether to accept, reject, or return the goods.