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Entrepreneurship: Business Simulation

Module description

This module is integrated with a sophisticated simulation package that allows you to gain an authentic learning experience whilst running a business as an entrepreneur. Underpinned by experiential learning and gamification, this module is designed to allow you to learn a wide range of aspects about running and growing a business in a simulated environment.

This practice-based module will focus on the various functions of a business at different stages of
development to equip you with tacit knowledge of the complex nature of running and growing a business. You will have the opportunity to enhance your understanding on how the decisions you make will generate impact on the various aspects of your business by running the day-to-day activities for your business in the simulation.

No prior knowledge skills or experience required to take this module as the simulation itself offers very detailed instructions and explanations for various concepts. No pre-requisite and co-requisite modules needed.

This module is suitable for business specialist and non-specialist students; however, it is worth noting that those without a business background may find that it takes longer to get familiarised with the business concepts.

This module is recommended for interdisciplinary pathways.

Module aims - intentions of the module

By the end of this module, you will gain a critical understanding of decision making both individually and as a group in a business environment. You should also be able to reflect on the experience of planning and implementing business decisions both individually and as a group, explain the business model of the simulated business, and identify your current skills gaps and set out SMART goals for their personal and professional development.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Explain the different development stages of a business and their distinctive characteristics
• 2. Implement evidence-based business decisions in a complex environment

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 3. Take responsibility for decision making in a business environment
• 4. Critically evaluate the business model of an existing business

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 5. Collaborate and communicate business decisions effectively
• 6. Critically reflect on own learning journey and set out development goals

Syllabus plan

The following syllabus plan is indicative:

• Introduction: learn about the simulation platform. Activity: access the platform and complete all
• training activities therein.
• Seed: run the simulation at seed stage. Activity: case studies at seed stage.
• Startup: run the simulation at startup stage. Activity: case studies at startup stage.
• Growth: run the simulation at growth stage. Activity: case studies at growth stage.
• Compete: compete against others. Activity: run the simulation in a competitive single market against others.
• Reflect: wrap up and reflect. Activity: review notes and identify key themes

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you have been deferred for any assessment you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 50%) you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of referral will be capped at 50%.

Indicative learning resources - Basic reading

Basic reading:

• Young, D., & Reeves, M. (Eds.). (2023). Sustainable Business Model Innovation (First edition.). The BCG Henderson Institute. https://doi.org/10.1515/9783111295268.
• Blank S., and Dorf B. (2012) The Startup Owner's Manual: The Step-By-Step Guide for Building a Great Company.
• Ostendwalder A., and Pigneur Y. (2010) Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. John Wiley & Sons.

Key words search

Entrepreneurship, Simulation, Gamification, Business Model