In a normal business environment many parameters have to be taken into consideration before deciding upon the investments to be done by a company. Main emphasis would be upon how participants are able to optimize the conditions to amplify their standing in the market. One will be given a virtual company, and he has to flourish it with limited resources, by properly investing in the various essential market aspects.
The simulation would consist of 5 quarters with the first quarter as a trial quarter to select teams for the further four quarters.
The simulation server would be primarily consisting of three modules:-
i. Data Entry Module and pre-Market Share Calculation Adjustments
ii. Market Share Calculation
iii. Balance Sheet Preparation
Data Entry Module and pre-Market Share Calculation Adjustments: -
This module will contain the GUI for the data entry of various parameters by the contestants. These parameters are fed into the pre-Market Share adjustment module to remove any anomaly in the entered data and also to calculate certain weights on parameters depending upon the inputs from other teams as well. These weights are then normalized and stored in the database.
Market Share Calculation:-
This module calculates the market share for each virtual organization based on the weights calculated in the earlier module. These parameters are primarily calculated from values entered for amount to be invested on advertisement strategy, cost price per unit, quality of raw material used, R&D, prospects for the particular industry etc. These parameters then are joined with the production of the organization to calculate the units sold by the organization in that particular quarter.
Balance sheet Preparation:-
Once the market share is calculated for each organization a balance sheet is generated for each quarter. Balance sheet consists of three parts: -
Cash Flow Statement
Along with this a detailed inventory datasheet is prepared detailing the inventory for the present quarter. Various graphs depicting relative standing of teams are also prepared.
Technologies Used: -
IDE :- Netbeans 6.5
Development Language :- Java
Database:- MySQL 5.1
Working Simulation Environment in a jar file
Relevant Documents to be distributed to teams. This includes: -
o Industry Preview and Future Prospects along with relevant facts and figures
o Decision Forms
o Quarterly Gazettes
o Initial Balance Sheet
Software Requirements Specifications
Relevance of a Business Simulation Environment:-
Provides budding entrepreneurs an opportunity to gain insight into industry and gauge competition
Efficient tool for business students to gain some practical knowledge about an industry.
Use Patent Claims
These details are provided for information only. No information here is legal advice and should not be used as such.