Beacon Business Simulation Training
The Beacon Simulation is an interactive, computer-based business simulation designed to teach financial acumen, strategy, business analysis, and the importance of decision making. Participants are divided up into competing teams. Each team runs its own company consisting of four different types of products (three manufactured products and one service product.) They go through 5 to 6 rounds of play making decisions about the products' price, output level, production capacity, marketing, and development. One of the products has yet to be launched when the simulation exercise begins but some think it will be the company's "guiding light" to show the company the way out of stagnating revenues. Hence the name of the game: Beacon Business Simulation
The Beacon business Simulation training programme teaches and strengthens the participants' understanding of:
- Business Acumen - Evaluate balance sheet, income statement, and cash flow statement... use financial ratios to assess business performance... cost-volume-profit analysis... develop and monitor annual and multi-year budgets
- Strategic Planning and Implementation - Determine strategic focus... allocate resources among four products... monitor strategy with financial metrics
- Operational Excellence - Manage expense to revenue ratios for each product... reduce unit cost through development and capacity management... balance inventory levels with forecasted demand... manage contractual head count
- Marketing and Development - Use marketing and development in a strategic as well tactical manner... Balance these expenses with forecasted revenues
For more information, download a brochure.