Marketplace is an exciting and wonderful educational experience for both the students and the instructor.
Ira Dolich, Adjunct Professor, Department of Economics and Business, Southwestern University
Marketplace Live Wins Silver Brandon Hall Excellence in Learning Technology Award
The Strategic Management simulation
Designed for strategic management, business policy and capstone business courses. Strategic Management exposes the participant to all the aspects of business.
Marketing, product development, traditional and web sales channel, HR management, the fundamentals of finance, accounting and operations.
6 decision rounds, with each round taking 1½ to 2 hours to complete.
In the Strategic Management simulation, students start a new company that enters the microcomputer industry. They deal with Marketing, Product Development, Accounting, Finance and Manufacturing Fundamentals, Financial Analysis, Business Partner Negotiations, Human Resource Management and e-Commerce.
As the executive team, students are provided the seed capital (investment money) to start their business. They can use this money to build a factory, open sales offices and/or a web site, and design brands. They invest 2 million in the first quarter and another 1 million in each of the next two quarters. An additional 4 million becomes available in quarter 4 from venture capitalists, for a total of 8 million.
The executive team has a year and a half (6 quarters or decision periods) to get their company off the ground. Within this time frame, they should become a self-sufficient firm, earning substantial profits from their operations.
Students can play against their peers as well as against a computer opponent.
Grading is based on the balanced scorecard that measures profitability, customer satisfaction, market share in the targeted market segments, human resource management, asset management, financial risk, preparedness for the future and wealth.