Local Business

Focus:

Business fundamentals, business management, SME management, Entrepreneurship.

Used in:

K12 courses for Entrepreneurship and business management, Undergraduate courses, Postgraduate courses for college preparedness, courses focused on business fundamentals and corporate training for freshers.

Case scenario:

The microsimulation case encompasses essential elements of running a small local business. Participants run a tea/coffee/fresh juice shop in the market while making operational and strategic decisions for long-term sustainability.

Participant tasks:

During the decision-making, participants must manage the company and make various decisions on geography, demography, sales forecasting, investments in interior & equipment, technology implementation and marketing. The decisions must be taken in a competitive environment keeping in mind the ongoing operations of the company.

Key learning areas:

Operating and understanding the intricacies involved in small local businesses, making decisions in key areas as per fundamentals for long-term sustainability, and understanding the connections between different decision-making areas and how they affect the financials of the company.

Key success factors:

Participants must develop and implement a consistent business plan that addresses the demand for the product while utilizing the basic principles of logic and problem-solving. In addition, well-planned investments and marketing decisions are important. Success will be measured by the qualitative and quantitative outcomes such as analysis of business, profit margins, cash available and ability to think in a structured manner.

Expected outcome:

The participants will develop a holistic view of running a small local business which they see in the daily part of their schedule. It will help them to understand the basics of business while providing them with a broader idea of business operations' decisions. The participants will be able to appreciate the market-driven decision-making practices and implications on various financial outcomes via problem-solving and critical thinking.

Adaptability:

The platform offers powerful user-level customization options where the educator can change the storyline, parameters, difficulty level, languages, and currency for different target groups and experience levels. The platform provides a tool where participants' feedback and assessments can be done by AI. In addition, the platform also has the capability of recording engagement, conducting quizzes, and a forum for doubt-solving.

Available languages:

English, Hindi, Tamil, Telugu, Kannada, Marathi, Bengali, Malayalam, Odia, Gujarati, Punjabi.

Focus:

Used in:

Case scenario:

Participant tasks:

Key learning areas:

Key success factors:

Expected outcome:

Adaptability:

Available languages:

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