Introduction to SimVenture

What is SimVenture
What does SimVenture do?
SimVenture allows people to setup and run their own virtual company and learn about
business and being an entrepreneur.
Who is SimVenture for?
• SimVenture is a powerful learning resource which can be used by universities, colleges,
schools and individuals. It is also ideal for Business Support Agencies looking to stimulate
business start-up activity and an enterprise culture. Commercial organisations seeking to
develop greater entrepreneurial thinking amongst staff are also able to benefit from the
business game since it offers a highly engaging. authentic and challenging learning
experience.
Who uses SimVenture?
• SimVenture is typically used by people who want to learn about business and/or
entrepreneurship. Students and budding entrepreneurs benefit from using the software
and vocational learners find the software particularly appealing. The business game is also
a powerful training resource for organisations seeking to develop teamwork, broaden skill-
sets and fast-track thinking.
Why is SimVenture popular?
• SimVenture is a business game that engages and challenges minds. The software is driven
by decisions made by the user. The reality of the business simulation combined with the
on-screen information makes it a rich learning resource.
Screen Shots from the Product
Business Subjects Covered- Finance
Area Details
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
 Business Subjects Covered- Organisation
Area Details
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 Undertake small budget research and marketing; create a profitable product
opportunities
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 Provide tasks to staff or contractors and complete and review work &
objectives 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 Recruit staff and experience different methods of selection and choice of
training approaches to training
 Sales & Marketing
Area Details
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 Understand links between market research, marketing strategies and the
Strategy/Planning desired goals. Appreciate the difference between strategies and tactics

Niche & Mass Find out about the benefits and drawbacks of niche marketing and compete
Marketing 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
Area Details
Starting a Small Firm Appreciate the differing needs, problems and opportunities of small
businesses
Operations Operate stock control, buffer stock, re-ordering and manage lead times and
Management stock levels

Quality control, Use different approaches to ensure the product is built right first-time
improvement &
assurance
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