Business Simulation – Sim Venture

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Business Simulation – Sim Venture

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Business Simulation – Sim Venture

Task

Trade a company for at least 12 consecutive months. Each team member should oversee a functional area and you should consider whether there should be an overall Managing Director.

The team will save print versions of their end-of-month reports (ensure that you have hired a book-keeper), and keep a brief “diary record” of their decisions in the business, the logical reasoning behind them, and any advice they had from the SimVenture package. (Sim Venture results are below)

Activity 1 (Group Work) 500 Words

At the end of the 12-month trading period produce:

1. A detailed cash flow and profit and loss account.
2. An analysis of strategy adopted, how key decisions were made and comment on team work and leadership. Include as an appendix any relevant diary records or printouts.

Activity 2 (Individual) 1000 Words

Students should individually produce a covering letter addressed to a Bank Manager and also include a projected business plan.

The report will explain the success of the company so far, and make reasonable estimates of its performance in the next 12 months with a view to obtaining a loan from the bank to help finance expansion.

The business plan should include a cash-flow forecast produced in EXCEL and explain all assumptions made. The cash-flow should include the loan and the loan repayments. Credit will be given for the inclusion of projected balance sheet and profit & loss accounts, together with and financial ratios.

Activity 3 (Individual) 500 Words

Students will write an individual reflective report in which they will:

1. (a)  Reflect on their own contribution to the team in SimVenture.
2. (b)  Explain the commitment needed – in terms of personal time and sacrifice – in order to make a success of a real small business.
3. (c)  Comment on how lessons learnt and how SimVenture can be applied to their future learning.

Guide length for each individual reflective report is 500 words. The individual reflective report will be different for every member of the team. Marks will be given for originality, logic, and relating an argument to actual experience.

 

The individual assignment submission will consist of

(1)  Final accounts and a group report on how these results were obtained. (500 words).

(2)  An individual business plan to support the application for a loan from a bank (1000 words in report format)

(3)  An individual reflective report – (500 words – addressing points (a), (b) and (c) above)