Benefits & Connections

Course BBI1O or BBI2O

Unit: Finance; Income Management

• demonstrate financial-planning skills and produce a business or personal financial plan (e.g., monthly plan, budget), using appropriate software. (Business Studies, 2006, p. 33)

The player gains a good idea of not only how to make a budget but also how to manage it with respect to a few variables such as company morale and depreciation through maintenance of the small company over a period of time.

Business skills such as problem solving are developed as the player practices critical thinking skills by analyzing the results and making informed decsions that will enhance the business. Financial planning skills are developed by managing the budget over the course of the game. Organizational productivity skills are developed when the player manages the budget more efficiently by spending an appropriate amount of money on each variable. Entrepreneurial skills are developed by pursuing through each show demonstrating a growth mindset, being competitive and accepting and acting on feedback.

Financial Literacy skills such as Numeracy skills and Money management skills are developed by realizing the results of how the money is allocated in the budget and making the appropriate adjustments. Financial decsion making skills are developed by analysing the performance of the business with how the budget is managed. Fundamental of economics skills are developed when the player understands the concepts of supply and demand in terms of 'hype' created.

Critical Thinking skills are developed by players when they discover new situations, create a new budget, and apply new knowledge to make financial descisions.

Collaboration skills are developed when players work together to learn from each other's experiences to be successful in their own game.

Creativity skills are developed when the player seeks new ways to allocate the budget.