This integrative business simulation provides your students with a profound understanding of the challenges of managing business activities across multiple firms in a supply chain within an international business environment. The outsourcing component can help business students appreciate the complexities of supply-chain management. One important skill students will practice in the outsourcing module is negotiation. Students learn to set priorities and to negotiate in order to achieve desired ends while attaining mutual goals.
Your students are provided with the seed capital to start up their business. They will be in charge of managing a fully integrated company through the first 2 to 3 years of its life cycle. They will build a factory, open up distribution channels, design brands, as well as advertising and web marketing campaigns. They will hire workers and decide on the compensation packages, deal with demand projections, production scheduling and quality control issues. After the first year in business, your students’ firms can receive additional funding from the Venture Capitalists. They can invest this money in new R&D, bring out improved products, expand their distribution and production capacity in order to maximize their performance in the second and third year of business.
The beginning of the second year is also when your students will be able to outsource some of their production to another firm or become a supplier for another firm. These options can dramatically change their business strategy.
Your students will compete in the international market, which is in constant flux. Market potential will rise and fall according to local and worldwide economic conditions. Political tensions sometimes emerge as various governing bodies try to do what is best for their own markets. Your students' goal is to become a self-sufficient firm, earning substantial profits from its operations.
Company: Marketplace Simulations
Approximate price: Unknown
Playtime: 40-60 hours
Learning objectives: This business simulation is based on the International Corporate Management simulation. It covers the same disciplinary areas plus the outsourcing option:
-Human Resource Management
-Business Partner Negotiations
The outsourcing element provides your students with a full set of supply-chain options, allowing them to make investments to speed up and better coordinate the exchanges between business partners. Your students will learn to balance short-term gain with the potential for greater reward in the long run if they decide to engage in outsourcing.
Link to simulation home page: https://www.marketplace-simulation.com/international-corporate-management-with-outsourcing