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Description
Description
Accessibility: Paid Subscription Required
Degree of Difficulty: Hard
Participants run a virtual business in a simulated environment. The simulation game lets users practice real-world skills in a realistic and risk-free setting that creates an interactive and fun learning experience.
The Purpose:
A business simulation keeps the users engaged through discussion, strategizing, analysis and teamwork as they have to deal with the consequences of their business decisions. The result of this is a higher level of learning made possible with business simulations.
Different Types of Simulations Offered By Hubro:
Business Simulation: Strategy, microeconomics, and managerial accounting.
Marketing Simulation: Marketing mix, segmentation, and customer needs.
Finance Simulation: Financing, investments and cashflow management.
Strategic Marketing Simulation: Brand management, expansion and customer satisfaction.
Bespoke Simulation: Reach your simulation goals with a custom simulation.
Benefits & Connections
Benefits & Connections
Connection to Courses & Use
Connection to Courses & Use
Course: Introduction to Business (BBI10/BBI20)
Unit: Finance
Section: Income Management
Specific Expectation:
Identify the factors that need to be assessed in order to make effective purchasing decisions (e.g., cost, quality, guarantees, service, money available, product information) (Business Studies, 2006, p. 32).
demonstrate financial-planning skills and produce a business or personal financial plan (e.g., monthly plan, budget), using appropriate software (Business Studies, 2006, p. 32).
Critical Areas of Learning
Critical Areas of Learning
Critical Areas of Learning
Whenever the player develops a new product, builds or rents a factory and manages a budget, there are advisors to keep you informed regarding financials. The player develops their ability to problem-solve and critically reflect in order to resolve a particular business decision that has been flagged in orange or red. Financial planning skills are also developed as players are expected to consider how a marketing budget correlates with the number of contracts being awarded. Strategic planning and risk management skills are developed because players must consider whether they want to produce a product that is a cost leader with low research and development costs or move into a new market with higher research and development costs. Ultimately, the player must consider how these varying costs affect the income of the company. Teamwork skills are developed as this simulation can be played with other players.
Players must apply creativity when designing the company logo and jetpacks. Critical thinking is exercised throughout this game. For example, how the decision to build or rent a factory will impact the bottom line. Players must be able to problem solve when there is an issue with cash flows or a lack of contracts for jetpacks or could not deliver on an order. Since this game is played with multiple players, players must be able to collaborate and communicate with one another.
By: Jeremy
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