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BUSINESSES WORK
Lesson 1: 19 Aug
Semester 1 2017‐18
Getting started with the
GoVenture CEO
simulation
Playing GoVenture
• Go to GoVentureCEO.com
• Have one member create an account using the SUBSCRIPTION KEY (32‐
digit) provided to your team
• All members to write down the password
• Log in
• Click the PLAY button and JOIN THE SIMULATION (7‐digit code) for your
class
1
One Member to Enter Decisions
• All members can log in to view the simulation
• Nominate one member to key in the decisions
• You can submit your decisions early. The last saved set of decisions before
the deadline will be processed.
• Save your decisions periodically. Do not leave this to the last minute!
Technology problems can happen!
Decision Deadline
• Save your decisions periodically. Do not leave this to the last minute!
Technology problems can happen!
• You must make 1 trial and 4 graded decision rounds. Each round represents a
quarter of a year.
• The first Trial Decision Deadline is on 20 Aug before 12PM or 4PM
• The four Graded Decision Deadlines are:
• 22 Aug before 3PM (Tue)
• 24 Aug before 3PM (Thu)
• 28 Aug before 3PM (Mon)
• 30 Aug before 3PM (Wed)
Assessment Method
• Group presentation 50%
• GoVenture performance 50%
• GoVenture performance will be based on:
50 40 10
Game ranking, Total: 4 saves
based on net
profit
2
Rubric Score (50% of game)
• Rank score
• Achievements won
• Trends (consistency of performance)
• Profit
• Revenue
• Product competitiveness
• Inventory management
• Marketing
• Advertising
• HR Management
Choose a
company
name and
logo
Quick Reference Guide
Step 1: Have a look at the plans you need to make in the Strategy Journal from
“Management” page
Step 2: Buy Consumer Profile report from “Customers and Competitors” page
Step 3: Choose your target segment(s)
Step 4: Make your decisions in the Strategy Journal and enter rationale in Notes
Step 5: Decide on what R&D you want to invest in according to your target
segment preferences (“Product R&D” page)
3
Step 6: Set price and forecast your demand to decide quantity to manufacture
(“Product MFG” page)
For Q1, use average demand and segment size as a guide
For Q2 onwards, buy Market Share and Size report
Step 7: Decide on your “Sales and Marketing” budgets (“Sales & Marketing” page)
Step 8: Hire the necessary manpower and choose their benefits and training
(“Human Resources” page)
Step 9: Refer to Budget on “Management” page to see how much you have
remaining. Use “What if” calculator to help forecast profitability.
Step 10: Click on “Go” to submit decisions
Step 11: Review reports on “mobile phone” and on “Finance” page
Step 1: View Strategy Journal Decisions
Entries in the Strategy
Journal and its Notes are
compulsory for each
round
• The Strategy Journal is a tool to
let you discuss and decide on
your market position, target
segment, and other strategies
• The plans made in the Strategy
Journal are not translated into
the decisions you need to key in
on the other pages in the
simulation
4
Step 2 & 3: Get research & choose target segment(s)
Buy this first!
Choose your target
segment(s).
Step 4: Plan Strategy
Choose from the
options in each pull‐ Key in the consumer
down menu segment(s) you choose to
target for each quarter
Key in rationale for your other
decisions. Your entries will help
you in your presentation for
Lesson 2.
Step 5: Product R&D
Recurring fixed costs per period
(e.g., licensing fees, patent fees)
Change in unit cost
of product from change in
safety rating
One time cost to change safety
rating (e.g., change of
equipment)
5
Forecasting Demand
Tells you how you
performed relative to
your competitors
Do not buy before Q1 decisions.
Total market size is $500M / quarter.
Useful for subsequent quarters.
Step 6: Product Manufacturing
Set price between
$10,000 to $100,000
Based on your
based on your
demand
market position
forecast
decision on price.
Higher price: higher
per unit profit, but
lower demand.
Step 7: Sales and Marketing Budgets
Brand equity is measured by brand awareness
and brand loyalty in this simulation
This is not an input field
but a indicator of your
effectiveness. Affected by
sales and marketing
investments and ethics
decision.
6
How to set sales & advertising budgets?
2. Click “Advertising” on map
1. Click
“View map”
X
X
3. Allocate budget across
different media
‐ Set the options that
you do not want to
0% first
Pay attention to your
consumers’ media habits
4. Key in budgets for advertising
your product/brand, and price
discounts, and sales promotions
X Shows previous
This is the budget for quarters’
advertising price
X advertising
discounts if turned spend
ON in previous page
7
Media Research
Gives sales & marketing a
boost with purchase. Not
additional info to analyze.
Step 8: Human Resource Management
• Hire the necessary
manpower
• Decide on their salary
• Choose benefits that
employees desire
• Invest in training
• These factors affect
productivity which
affects # of employees
needed, and morale
which affects turnover
rate
Human Resources Survey
In 1st round, provides info
on which benefits are most
desired by employees.
Thereafter, historical
comparisons of salaries and
benefits.
8
Step 9: Budget
• $55M budget allocated
each quarter
• Previous quarter’s
leftover funds added
into Budget Available
• Bank loans available as
new funds
• $2.5M default
operating costs. Varies
with ethics level.
• Other costs refer to
research costs, interest
payments
New Funds
• Bank loans are available to increase budget
• Interest is 5% per quarter
Step 10: Submit your decisions!
9
Step 11: Know how you performed…
• Ranking is based on
cumulative
performance of net
profit.
• Your performance for
each quarter will be
ready soon after each
deadline. View report
for details.
Reports from
“Finance” page
help too
Remember to save!!!
• Auto logout after 3o mins of inactivity
• Save often – there can be technical problems!
• Last saved decision is processed for game to progress to next round
10
Help
• The in‐game information icon provides detailed information on specific topics
• If you need technical help, click the big yellow HELP button to contact
MediaSpark, makers of GoVenture. They respond to all requests within 24
hours. Check your spam folder to make sure you do not miss their reply. Do not
contact the instructor for technical help.
More Questions???
• In the spirit of fair competition, instructors will not coach you in terms of
specific decisions for the simulations
• The knowledge you need are in the video lessons and this lesson – please
refer to these resources again if necessary
• For conceptual clarifications, please send emails to:
bpm1705@nus.edu.sg
The week ahead…
• Submit decisions for Quarters 1 to 4 on time
• Prepare for a presentation on 2 Sep
Presentation is a summary of your strategy and what you learned about
business decisions from the simulation
Refer to “Student Reflections” slides for presentation structure
15 mins per team + 5 mins of Q&A
All members have to present
11