Information and Communication Management
Information and Communication Management

Business Simulation (4 SWS / 6 ECTS)

Learning Outcomes:

The business simulation game is intended to offer students the opportunity to apply and deepen their business knowledge and ways of thinking in practice. Through the management of all important corporate areas, company-wide relationships (internal and external influencing factors) can be recognized and the decision-making processes in the team can be designed efficiently and constructively, and specified goals can be achieved by implementing plans and decisions.

Course content:

The business simulation conveys business knowledge, shows relationships in a company and enables the first steps in the corporate world. The business game deals with the takeover of a medium-sized company. In order to continue business activities, the teams have to make decisions in the areas of development, purchasing, production, administration, finance and sales. The business simulation puts active learning in the foreground. Based on the theoretical content and the strategy defined by the teams themselves, the students should be able to interact with their team members, analyze situations and reflect on the results of their actions. The focus is on: - Target / strategy planning and implementation - Sales planning - Marketing mix (price, product, sales and communication policy) - Capacity and cost planning - Investment and contribution margin accounting - Income statement - Balance sheets

Teaching forms:

The business simulation consists of a weekly practical phase as well as the writing of an annual report in a subsequent process. In the practical part of the module, the students are divided into groups (company teams), each of which represents a company in a competitive market segment. The teams have to come up with a strategy for how they want to act in the market and express this in decisions within different business areas of the company. Four business years are simulated with the help of software so that the students can understand the consequences of their strategy and decision-making and can react to them. In addition, the lecturer will impart theoretical and practical knowledge that will support the participants in their decision-making. At the end of the practical phase, the results of the four financial years are presented by the respective teams at a company closing conference. The participants should also reflect on their own position in the market after the end of the four financial years with regard to the strategy they have chosen. In preparation for the event, the participants must familiarize themselves with the given subject areas (e.g. contribution margin accounting, marketing mix), as well as with the basic operation of the business game software and the process of the business game. After completing the practical phase, the task of each group is to prepare a written report in the form of an annual report. The annual report relates to the last business year of the simulation game and should contain all the elements typical of an annual report. In addition to key financial figures and quarterly overviews, the company itself, the past development and the current situation (risk / opportunities) should also be examined and, towards the end of the report, a prospect of future development and strategy should be given.

 

Further information:

The number of participants is limited to 30 students.

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