Entrepreneurs Today
Entrepreneurs Today is a board-based business simulation that gives participants a broad view of the critical determinants in the success of any business, and how, they as individuals can contribute to the success of their own particular business.
The simulation involves teams of participants ‘Running their own Business’ in competition with each other. They run a number of business cycles and follow a realistic business processes which include :
- Making Financial Decisions
- Making HR, People and Operational Decisions
- Supply & Distribution to Customers
- Collecting Cash & Paying Expenses
The Simulation provides participants the opportunity to face a range of issues which they would typically confront during business operations. As they run through cycles of the simulation, they make decisions concerning the day-to-day running of their business, such as:
- Utilization of Limited Resources
- Determining Pricing & Product Strategies
- Cash flow and keeping track of how money flows into and out of a business
- Measuring the Performance of the business
In making such decisions and experiencing the consequent effects of those decisions, participants gain an appreciation of the critical issues on which business profitability depends.
Substantial business improvement can only take place in an environment where people at all levels fully understand the consequences of every one of their actions on the business as a whole.
LEARNING OUTCOMES
- Identifying what resources are required to run a business.
- Understanding where the money comes from to start a business.
- Understanding what the reasons are for investing in a business.
- Exploring the components of a successful and unsuccessful business.
- Use of basic business terminology and business skills.
- Using Balance Sheets, Income & Cash Flow Statements to measure Business Success.
- Exploring how companies get and keep customers – Quality, Timeous deliveries, Credit terms, Customer Service.
- Dealing with the challenges involved in running a business.
- Identifying actions for improving business performance.
- Differentiating between the different types of costs in a business
- Identifying & understanding the purpose and role of each department in a company
- Understanding how the different departments work together to achieve company goals, and personal contributions to achieve this.
- Knowledge & understanding of the trade-offs that occur in a business
- Understanding the difference between profit and cash
To discuss how BIZITMEDIA’s Learning & Development Division can transform your organization through Training, please Contact Us for a confidential meeting.