FDP on Integrated Business Simulation
Introduction
A growing number of companies today are looking for managers with integrated business perspectives in addition to their functional expertise. As students take up jobs in those companies immediately after passing out, it becomes essential for faculty members to impart such understanding to their students and train them through this participant-centered pedagogy.
Learning Methodology
Using a Computer Simulation, participants are placed in a business setting, where they would be starting up and running a company for one-and-a-half years (six rounds of decision-making). This immersive experience is where participant teams compete head-to-head with other companies in a virtual marketplace. The learning strategy is to build the business gradually and, thus, introduce progressively new issues, which the participants must master. Business activities such as cash flow planning, value creation in product design, production scheduling, profitability analysis, and strategic planning and management require repetitive exercise to set them into the natural thinking process of participants. The Simulation Exercise gives the participants an integrated perspective of the entire business operation.
Activities in the Simulation Exercise
- Analyze market research for marketing, design and pricing of brands for different segments
- Allocate scarce funds to R&D, manufacturing, advertising, and distribution
- Manage cash, negotiate equity and debt financing and compete against other business teams
- Adjust strategy in response to functional performance, competition, and customer needs
Learning Objectives of the Simulation Exercise
- Develop planning and execution skills within a rapidly changing environment
- Crystallize the linkages between business decisions and the company’s performance
- Facilitate important business principles and build confidence through this experience
Chronology of Events
Here is a brief list of the activities that you will undertake by quarter or decision period:
- Round 1: Start the company, organize the team, analyze the market and set up business.
- Round 2, 3: Test market brands, prices, market response, and make adjustments.
- Round 4: Prepare a business plan and obtain financing from venture capitalists.
- Round 5, 6: Adjust strategy to market opinion, competitive tactics, and market developments.
- Round 7: Prepare a Report to the Board of Directors (investors) on the firm’s performance.
Simulation Details
Dr. Ernest Cadotte of Innovative Learning Solutions, Tennessee, USA, developed the Simulation. The simulation has been around for over 25 years in 55 countries, with over a million people benefiting.
Who Should Attend
This program is ideal for teachers and trainers, members of middle-senior management, SBU heads and CEOs.
Programme Details
Programme Dates (Duration): 1-3 February 2024 (3 Days)
Cost: Rs 4500/- per participant. Cost includes Study Materials, Access to Simulation, Lodging and Boarding for three days, from 31st January evening to 3rd February evening.
Contact:
Mr. Mantha Raghu, Coordinator
Tel: +91-712-2805239 Mob: +91- 8639357360
Email: mraghu@imtnag.ac.in Web: https://www.imtnagpur.ac.in/mdpconsultancy
