• Quest for Business Excellence: Retail

Course Description

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.

This dynamic business game will equip you with the mechanisms of managing a successful retail business - conducting market analysis, purchasing from suppliers, promoting and expanding your business.

Who might be interested

Students, professionals, entrepreneurs, individual learners.

What Will You Learn

The participants are asked to manage and expand a retail store network. During the course learners will  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.).
  • HR management.
  • Investment and finance management.
  • Optimize and increase the scale of their business.

The course is primarily focused on the development of such skills as:

  • Decision making.
  • Retail management.
  • Basics of quality management.
  • Price setting.
  • Analytical skills.
  • HR management.
  • Supply management.
  • Strategic and systematic thinking.

Commitments

This course requires approximately 2 - 4 hours of study per week, but can vary depending on the individual. This includes watching videos, taking assessments and deciding on a game move. The total video time for this course is approximately 4 hours 10 minutes.

Participants can access the game from any computer with internet connection and an internet browser. The number of participants is unlimited (the minimum recommended number of participants is 20).

Format

Delivery format Online
Participation Individual / Team
Duration 1 month
Number of turns 30 turnes
Turn intensity Daily
Materials Explicitly structured material in the form
of interactive video clips and text in pdf format.
Languages English

Course structure

Module 1: Introduction

Game objectives, participant evaluation criteria and timeline

  • Introduction to SBS: basics of retail management.

  • Tasks: getting familiar with interface and environment of SBS for efficient retail business management.
  • Assignment in SBS: manage given company and stores.

Module 2: Business operations. Improving Quality and Efficiency.

Game objectives, participant evaluation criteria and timeline

  • Theory: basics of production and quality management.
  • Tasks: analyze given theoretical information and apply it in SBS.
  • Assignment in SBS: optimize the existing retail processes in retail chain network.

Module 3: Business strategy. Getting Effective and Sustainable.

Game objectives, participant evaluation criteria and timeline.

  • Theory: methods of improving effectiveness and forming sustainable business strategy.
  • Tasks: improve effectiveness of operations and formulate business strategy.
  • Assignment in SBS: expand and improve retail store by implementing business strategy and improving operations.

Module 4. Assess your new competences in retail business

Game objectives, participant evaluation criteria and timeline

  • Tasks: assess your performance and improvements implemented / missed opportunities of your virtual company. Name learning points you have encountered during the course.
  • Assignment in SBS: optimize and develop retail business.

Authors

Dr. Dalius Serafinas
Associate Professor at Vilnius University (Lithuania)
Professional Training & Coaching
 


Certificate of Completion

Digital Certificates may be placed on the participant's personal profile on LinkedIn.

Simformer Business Simulation is a multiuser business simulation environment, accessible through any browser. Every participant (or a team of participants) run their virtual company. The company may consist of various subdivisions: from extracting and processing natural resources to producing  finished goods and selling them to end users. Depending on the simulation settings for a particular case, at the beginning the participants receive a pre-configured company or just money fund. During the game, the participants can open a variety of subdivisions (the range of subdivisions depend on the simulation settings). Managing of  subdivisions includes all key business processes and functions: HR, production, marketing, sales, logistics, strategic management, finance, supply, etc. The actions of all participants are repeatedly processed by the system, depending on the frequency of business simulation turns. The Intensive mode is hourly turn- based, the Classic mode is daily turn-based.  The unique feature of Simformer Business Simulation is that the game world is not predetermined by algorithm. The participants have impact on the changes on the market, which in turn influences the actions of the participants. In addition, all participants are interconnected: they buy and sell the goods, equipment and raw materials to each others. These actions create  lifelike market environment with its risks and uncertainties.

Login on Simformer platform, using the login and password, which you received during the registration. Select the relevant course in the left treeview menu.

enter_simformer_business_simulation_screen

In order to enter the simulation, click on the «Enter Simulation» link.

Simformer Business Simulation can be beneficial to a wide range of participants: university  professors, instructors, students, entrepreneurs, managers, e-learning specialists, business coaches and trainers.

The participants should have computers, web-browsers, internet connection; they need to be registered users or be a part of a registered team.

The participants can spend unlimited amount of time in the simulation. In fact, you would need to spend as much time as possible to develop your successful virtual business.

We also recommend testing your abilities in the business simulation before starting to play and become familiar with video guides, rules and other materials.

Login on Simformer platform, using the login and password, which you received during the registration. Select the relevant course. Watch the simulation video guide. In addition to that, there are a number of hints that could be found in the simulation, which will help you to select the  required number of employees, necessary equipment, salaries, etc.

Your virtual business will be interconnected with the virtual businesses of other participants; you will purchase and sell equipment, raw materials and finished goods.

The actions of all the paticipants are processed by the system with a certain intensity, depending on  the frequency of simulation turns.

In order to share one company, the participants have to divide into teams. The team uses one login and password to manage the virtual company. It is possible to access the simulation from one or several computers. All team members see the same functions in the simulation. Therefore, the participants must coordinate their decisions with each other, delegating the responsibilities and duties (e.g., subdivisions) or business functions (CEO, marketing, finance, HR, manufacturing, etc.).

No, but the Certificate of Completion can be used to demonstrate your interest in learning about this area to potential employers or educational institutions. It can also be uploaded to your social networking sites.

Quest for Business Excellence: Retail

$320.00
Instant access

Tags: online-course, quality-management, retail-management