Classroom Simulations List v0.1
Games and simulations for use in teaching entrepreneurship
One of the ways to add interactivity in a class is to include a simulation. These are multi-person role plays (also called games) or computer-based activities, or a combination of the two, which mimic a real life scenario. For entrepreneurship classes, there are a variety of free and commercial simulations. A very ragged list of these which I built from a fast Google search and recollection of what I've heard about, can be found below.
Entrepreneurship Simulations v0.1 - Jerome Katz, 5/29/08
See multidisciplinary list at http://www.absel.org/Packages/packages.html
See comparison at http://www.eed.econ.msu.ru/cmt2/lib/c/198/File/simulations.pdf
See a strategy oriented list at http://www.bpsdiv.org/html/simulations.html
Boom & Bust Enterprises Product Launch Simulation - (from http://forio.com/simulations.htm) Players take the role of top management of B & B Enterprises, a fictitious firm based on a variety of real cases. The game begins as a new product is launched. Players are responsible for marketing, pricing, and capacity expansion decisions to maximize their cumulative profit over the next 40 quarters. The potential market is large, but as in real life key attributes of the market, including its size and price elasticity, consumer responsiveness to word of mouth, repurchase behavior, and other customer attributes, are unknown. The player also faces a simulated competitor whose pricing, marketing, and capacity expansion strategies are likewise unknown. The game illustrates fundamental principles of corporate strategy including the learning curve, time delays in capacity expansion, competitive dynamics, and market saturation.
ENTREPRENEUR: A Business Simulation in Retailing - takeover of an existing clothing business. http://home.att.net/~simulations/entre2.htm . Authors redirecting users to BizSim http://home.att.net/%7Esimulations/BizSim.htm for personal audio player industry.
Entrepreneurship in Action: A Retail Store Simulation (Paperback)
by Rose Jackson Regni (Author), Jimmie G. Anderson (Author), Rosalie J. Regni (Author) http://www.amazon.com/Entrepreneurship-Action-Retail-Store-Simulation/dp/1563675951
GEO. I developed it as an international entrepreneurship simulation. The demo is accessible from http://pages.towson.edu/precha/geonetd5.exe . Select Run/Open at all security warnings. Do not save the program, unless your browser requires it. I upgrade the server regularly, so a saved program may not work correctly after an upgrade. Your computer must have Microsoft's .NET Framework installed for the program to run. If it's not installed, you can download it free from Microsoft's web site, at http://www.msdn.com/ . Choose version 2.0. Register into the demo using a fictitious name and password, and then do anything you want as it's just a demo.
If you wish to use it, kindly send me a postal letter of request on institutional letterhead with information about your intended usage: No. of students, start and stop dates, graduate/undergraduate, time commitment, and so forth. If it can work for you, I will set aside space for your usage.
Precha Thavikulwat, Ph.D., Professor of Management, Department of Management , Towson University, 8000 York Road, Towson, MD 21252-0001, U.S.A. , t. 410-704-3230, f. 410-704-3236, [email@example.com] , http://pages.towson.edu/precha
GoVenture is an online and CDRom based simulation - http://www.goventure.net/ or http://www.goventure.net/home.cfm?ID=2&go=site/home/educator.cfm for profs.
See http://www.tcm-s.com/Assets/Product/Goventure/LLE%20Page.htm for a good summary.
Hot Shot Business http://spapps.go.com/hsb4/landing/ was developed by Disney Online and the Kauffman Foundation, and gives students an opportunity to be a virtual entrepreneur.
Junior Achievement Titan Business Similation - online at http://studentcenter.ja.org/aspx/popup/default.asp?section=planbusiness&url=http://titan.ja.org .
"Launching..". However, its purpose and style is very different from simulations like the shoe game. You do it a couple of times against the computer and you're done. It's basically an interactive case. Also, they haven't revised it in several years so you can face some compatibility problems with current computers.
Lemonade Stand (uses Java) - http://www.lemonadegame.com/index2.html
Lemonade Stand (easier version) - http://www.classbrain.com/cb_games/cb_gms_bag/lemonade.html
Marketplace Venture Strategy http://www.marketplace-simulation.com/products/venture-strategy.php simulation that is designed for a new venture or entrepreneurship course. It has become very popular as a way to give students experience in the start up and management of a new enterprise. A key ingredient of this simulation is the preparation of a business plan at the mid-point of the exercise. Student teams must formulate a business
development strategy, along with a tactical plan and a set of pro forma financial statements. The software provides templates for the completion of these tasks. The preparation of the business plan is rather extensive and an entire week is dedicated to the task. Ernie Cadotte, University of Tennessee. ecadotte@UTK.EDU
MarketShare http://www.prenhall.com/interpretive/marketshare.htm is based on the leading marketing management simulation, PharmaSim, but simplified to be applicable for use in undergraduate marketing classes. Prentice-Hall
MikesBikes-Intro is specifically suited to and has been successfully used in General Business and Marketing Courses where it is well suited to introducing the broad concepts of cross functional disciplines of a business as in introduction to business courses or showing how the development and implementation of an overall marketing strategy and implementation plans involves such disciplines.
Through Market Analysis in the simulation students consider the circumstances of Customer, Competitors and Company Competence the 3C's and engage in decisions on Product, Price, Promotion, and Distribution (Place) the 4 P's specific to either general business strategy or marketing strategy and implementation depending on the course focus. They are required to undertake research, analyze data, collaborate with each other, make judgment calls and decisions and compete, just like managers and professionals in the real world.
http://www.smartsims.com/simulations/mikesbikes-intro (a McGraw Hill company)
music2go is an innovative, fun online business simulation based on the Portable MP3 Player Market. In the simulation students are required to apply the concepts of Market Analysis, Segmentation, Marketing Mix and Product Lifecycle in an interactive marketing case study. Students can learn how to play the simulation in a Single-Player version competing against a computer and once familiar and at the request of their Instructor, they are placed in teams and compete again one another in the more challenging Multi-Player version online.
http://www.smartsims.com/simulations/music2go (a McGraw Hill company)
NFIB Johnny Money Simulation - demo at http://www.nfib.com/object/IO_29059.html.
Roller Coaster Tycoon or similar Sim-City-like computer
software games from http://entrepreneur-business.info/academic-resources/business-simulators.php
The Startup Game - If this is "launching a high-risk business" it is quite good if you want to use it as a group take-home assignment with feedback in one class
session. Available at good prices from HBS…works well with Sahlman's
article on writing a great business plan. We add a little flavor to it
by having students participate in a side betting pool. Every team gets
3 tries…with the highest retained equity value (in $$$) upon a
liquidity event getting the entire betting pool. This is for MBAs and
has worked well for years.
Threshold Entrepreneur: A New Business Venture Simulation, Team Version Book and Disk (Paperback) by Philip H. Anderson (Author), David A. Beveridge (Author), Thimothy Scott (Author), David L. Hofmeister (Author), Timothy W. Scott (Author), http://www.amazon.com/Threshold-Entrepreneur-Business-Venture-Simulation/dp/0130206334
The Teen Entrepreneur is a new, comprehensive real-world simulation that teaches students how to create a comprehensive business plan (students choose their own business) and reinforces computer application skills through entrepreneurship concepts.
The simulation integrates all of the Microsoft Office® software applications by requiring students to start a real teen-based business. Students use Word®, Excel®, Access®, Publisher®, PowerPoint®, and FrontPage® (optional) to develop the worksheets and documents necessary for their teen-based business.
Threshold Team Entrepreneur and Solo Entrepreneur are programs that simulate many of the decisions involved in starting and managing a small company. Students act as chief executives of a small company that sells two plastic molded products - Product 1 and Product 2. Students make decisions regarding (a) marketing (e.g., pricing and promotion of the products), (b) manufacturing (e.g., how many units to produce or whether to have the products manufactured by a sub-contractor), and (c) financing (e.g., requesting a bank loan to pay current bills or accessing venture capital funding.). The manufacturing process consists of forming plastic raw materials (sheets of plastic) into the finished consumer products. The products are sold through retail markets to the general public. The two products are not substitutes for one another, nor are they complementary. The sales of one product do not affect sales of the other product. http://www.greatsims.com/entrepreneur.html
TOPSIM is a strategic entrepreneurship simulation. which was jointly developed by the University of Applied. Sciences Regensburg, the UNICON Management Development …
Compares three teen-focused simulations.