In retail, as any other business, the ever changing business environment, customer needs and expectations should be considered. It is highly important to understand mechanisms of how the value is perceived, created and commercialized in order to achieve sustainable business.
The purpose of this course is to provide learners with the knowledge and to develop competences in:
- Forming the understanding of how retail business operates and how these operations and overall efficiency influence business results (KPIs).
- Develop strategic and systematic thinking.
The course offers convenient schedules for the management of virtual companies, as turns take place once a day. Naturally, the gameplay becomes more intensive as the amount of time for decisions decreases. However, the players will need to continuously engage in the gameplay in order to make effective managerial decisions and complete the assigned tasks.
The participants are asked to manage and expand a retail store network. During the course students will have to be involved in these activities and business processes:
Market and context analysis.
Supply chain management.
Smart decision making.
Establishing Product, Place, Price and Promotion.
International trade (customs, taxes, logistics, etc.).
Investment and finance management.
Optimize and increase the scale of their business.
Basics of quality management.
Strategic and systematic thinking.
Individual participant rating is available in Simformer Business Simulation.
Participants receive explicitly structured material in the form of interactive video clips and text in pdf format containing:
Description of the game rules and mechanics.
Questions to test player understanding of basic business decisions performed in the simulation.
A functional guide of the simulation.
Tasks to be performed in the simulation.
All participants begin the course at the same time under the same conditions. The dynamic of player actions is reflected during simulation recalculations. Participants need to perform the required tasks before the next recalculation takes place.
Participants are given enough time to implement a series of complex tasks, revealing their analytical abilities.
Course results report
A typical report includes player ranking based on the performance of the companies under their management.
change management, quality management, retail, decision making