Business Subjects Taught using SimVenture

See for yourself what can be learnt with this Award-Winning Business Simulation

Finance

Accounts & Expenditure Interpret profit and loss accounts and balance sheets
Bookkeeping Keep up-to-date business records
Accounting and Finance Classify costs, net and gross profit, contribution and use a break-even analysis tool to determine price
Budgeting Understand the purpose of budgets and use them for business and campaign plans and forecasting
Cash Flow Management Understand the importance of cash and distinguish between cash and profit
Ratio Analysis Tackle concepts and calculations including: ROCE, Gearing & Asset Turnover

Sources of finance

 Access family loans, bank loans, overdraft facilities, equity support and grants

Organisation

Business Planning Write and structure plans for internal and external use
External Influences Understand the market and competition, changing market and supplier conditions as well as managing capacity and demand
Identifying opportunities Undertake small budget research and marketing; create a profitable product
Legal Issues Review the role and impact of some laws regarding health and safety, employment, company creation and contracts
Interest rates Appreciate interest variations, their effects on demand and related finance decisions
Management by objectives Provide tasks to staff or contractors and complete and review work & delegation
People Understand culture of a new start-up & small business. Make decisions and deal with consequences that all business owners have to face
Practical problems Appreciate issues related to: finance, location, building a customer base, cash flow, business planning and personal stresses & strains of self employment
Recruitment and training Recruit staff and experience different methods of selection and choice of approaches to training

Sales & Marketing

Adding value Use unique selling points and identify the best mix of design, price, promotion and service
Markets Complete research, market analysis, segmentation analysis and assess market size/share
Marketing Identify, target and satisfy customers using marketing objectives, strategy and tactics
Marketing Strategy/Planning Understand links between market research, marketing strategies and the desired goals. Appreciate the difference between strategies and tactics
Niche & Mass Marketing Find out about the benefits and drawbacks of niche marketing and compete in large markets through product differentiation
Place Use distribution channels and choose premises to support the sale of business products
Pricing Use different strategies for attracting business as well as linking pricing to financial management
Promotions Plan and execute campaigns including: Advertising, Direct Marketing, PR, Networking, Websites, Events and Exhibitions
Sales Choose strategies, budgets and tactical activities to generate revenue

Operations

Starting a Small Firm Appreciate the differing needs, problems and opportunities of small businesses
Operations Management Operate stock control, buffer stock, re-ordering and manage lead times and stock levels
Quality control, improvement & assurance Use different approaches to ensure the product is built right first-time
Product Design and develop a product in line with customer needs
Production Build products and/or manage contractors to produce stock for you
Suppliers Choose from and manage different supplier accounts. Ensure supplier payment
Time & Efficiency Manage personal and staff time to ensure work is done. Identify inefficiencies and work to improve business performance
Key Skills SimVenture also supports the following Key Skills:
  Application of Number
  Communication and Information Technology
  Decision-making and Problem solving
  Reflection & Evaluation
  Analysis of Information