In this series, we will take a look at the most common learning objectives for intro and principles level business courses and demonstrate how CapsimCore™ can be effectively used to meet those objectives. Our newest simulation is designed to make business learning fun and engaging at any level.
Objective: Describe the functional areas of business
To run their company, students make decisions in four different areas of the business: R&D, Marketing, Production, and Finance. Students must create products that outsell their competitors by appealing to two customer segments: high tech and low tech
Students create, modify or retire products. Each product has three attributes students adjust using sliders:
When creating and modifying products, students must consider each segment’s buying criteria (position, age, price and reliability).
Students ensure their products are well known and priced right: Students set each product’s:
Developing an accurate forecast is important because students’ decisions in production and finance rely on the sales forecast.
Students control the production of their products and plant specifications. They adjust the:
Decisions here ensure students have enough cash to run their business throughout the year. They can raise funds through three methods:
Students also have the ability to retire long term debt and retire stock. If their company ends the year with a negative cash position they will receive an emergency loan. The end of year cash position again relies on the sales forecast set in marketing.
CapsimCore proves an intuitive, easy-to-use interface for students to learn about the functional areas of business and how these decisions impact one another.
Try CapsimCore For Free
If you want to test drive the simulation for free, register for our CapsimCore Professor Challenge. You can even win: