Many entrepreneurs start their businesses without proper understanding of the related business processes and necessary business management skills.
The Microbusiness Simulation, designed as a ‘board game’, is a tailor-made solution that teaches entrepreneurs how to start and grow a business using the phases of a small juice producing company such as purchasing raw materials, storage, and sales. In general, it trains micro entrepreneurs essential business management skills necessary to make their own businesses in reality successful. Participants can easily apply the gained experience from the simulation to their own enterprise.
Main target audience
Startup entrepreneurs and growing entrepreneurs
This simulation consists of running the business four rounds where each round presents a business period, e.g. a month or a year. Themes of each round are :
1. Augmentation of financial knowledge and managing the business.
2. Identification of new business opportunities and introduction of a new product
3. Expansion of the market with needed investments and application for a microloan
4. Augmentation of sustainability
At the end of this simulation the trainee will be capable of the following :
• Conduct sales forecasting in the business
• Manage business suppliers
• Record business transactions in the simple books of accounts and make financial statements
• Apply business diversification and pricing techniques in the business
• Analyse market competition
• Analyse investment decisions in the business