Basic Business Skills
Online Business Course “Basic Business Skills“
During the simulation, you will run a MediTech company, your product is a smartwatch health app called HealthCare.
In this module you will learn about basic management skills in the following topics
- Introduction to cost structure and cost categories
- Introduction to a simplified report
- Introduction to Cash Flow Principles
- Products / services introduction to online market
- Using online marketing channels
- Understanding / applying market segmentation
The Challenge
The company builds a smartwatch app which collects the user’s health data and helps build a healthy lifestyle. The app is called HealthCare.
Your company started recently and an investor gave you capital. You have to start your operations, get an office and hire employees to build the app.
After this you can introduce your product to the market.
FIRST STEPS
At the beginning of the simulation, the business is in the starting state with capital from a financial investor to implement the idea. Until the first revenue comes in, you have to run the company from this amount.
STATISTICS, MESSAGES
The management staff will visit and inform you from time to time. At the end of each month, you can review corporate statistics, and analyze data to determine the actions of next month.
COMPETITORS
Although the product is innovative, but not unique! Others are making similar applications, so competitive environment is expected on the a market.
You’ve already mapped out what prices competitors ask for similar subscription products. It is a fairly wide spectrum of subscription fees monthly.
GOAL
Your goal is to navigate the business in the first 12 periods: create a product, introduce it to the market, sell it and collect more and more subscribers who use HealthCare on their smart watch. And, of course, to be stable and profitable.
Basic Business Skills that is business simulation
Have you ever wondered what the process of launching a new product on the market looks like? Or maybe you already had such plans, but you did not know where to start, what to follow or what is important in such a situation? Now you can test it all with Basic Business Skills that is business simulation.
Our business simulation is divided into twelve modules. Each of them focuses on a different, specific management skill. Basic Business Skills focuses on planning, branding and sales. It is precisely this ability, i. e. leading this process, that is a priority in this module.
Basic Business Skills is an interactive simulation that is using gamification elements. The aim is to plan the process of launching the product on the market and its sales, as well as building the brand. As we can read in the introduction, thanks to the business simulation you will learn about the following topics:
- Introduction to cost structure and cost categories
- Introduction to a simplified report
- Introduction to Cash Flow Principles
- Products / services introduction to online market
- Using online marketing channels
- Understanding / applying market segmentation
Your product is a smartwatch health app called HealthCare. At the very beginning, you can think about what the whole business simulation is all about. Here, two instructional videos come to your aid. The first one is an information about the basics of Business, the modules contained in the game and preliminary information about the product and your function as a manager. The second contains more detailed information about HealthCare and the whole company – its structure and functioning.
The videos are short but contain all the important information and clearly define the goal and rules of the game.
At the very beginning of the simulation, you receive messages from your coworkers, in which they briefly describe what they do. After reading them, the game starts. The first thing we see is the axis divided into four modules. Each of them lasts a certain amount of time and the whole period from the start of business to the stabilization of sales lasts one year. This is your time when you decide on everything related to your product.
The business simulation requires us to think ahead for up to a few months, make decisions about hiring and firing employees, manage the budget, invest in continuous brand development or determine the target group of people to whom the product is to reach.
Of course, these are not all the things you can influence. As the gamification develops, you need to make more and more decisions that will affect the final result of your work. Importantly, every month you receive a report that contains statistics, billing and possible tips on what to work on or invest in so that the consumer who chooses your product is fully satisfied.
What is worth noting is the unlimited access to the Knowledge base, where you can find videos and articles explaining particular issues. So if you need new information or improvement of those you already have, you can do it at any time, without any limitations and in the way that suits you.
If you managed to complete the business simulation with good results – you introduced the product to the market, developed your brand and ultimately stabilized operation & sales – you get an evaluation of your work. Each category is rated on a scale from 1 to 7. If you have not reached the maximum in one of them, you can read the tips – what else to work on, what to pay attention to or what to improve.
If you failed to pass gamified simulation – you go bankrupt – but don’t worry. You can repeat the business simulation as many times as you want during the license period. It is also a great way to learn and train your skills, because it allows you to learn from your mistakes. If you know what you did wrong, you will try not to make the same mistakes in the next game, and thus you will develop your skills.
After a successful finishing of the game, a quiz is unlocked, which checks your knowledge of that course, which is Basic Business Skills. These are 15 questions about what you have been exposed to throughout the Online business simulation. As a result of this quiz a percentage is given of the achievements. The Basic Business Skills simulation is a great way to learn and train your abilities and skills for and in business. Thanks to its setup, the user feels like a company manager, having a real impact on success or failure. You don’t need to refer to specialist books and tutorials, because everything is available in this online simulation.
This is a pleasant and enjoyable method allowing the user to develop and train abilities and business skills in a given field and for sure it is worth to check it out.
Access & Subscription
Our Online Business course and simulation for BASIC BUSINESS SKILLS can be used as a facilitated or non-facilitated online training program for individuals or groups.
