Introduction:
The Capsim Business Simulation is an online virtual business which is run by the users as per their strategy. The users need to make key decisions in all areas of the business and they are their own CEO. The users formulate strategies for the business and then takes key decisions to emerge as a profitable business at the end of each round.
Practice Rounds:
The simulation allows its users to first have a hands-on practice of rounds via its practice rounds. The 4practice rounds prepares you for the upcoming competition rounds. In these 4 practices rounds, you apply your strategies, learn by doing, use trial and error to see the results of your actions, and then finalize strategy for your competition rounds. Your decisions in the practice rounds can be done over and over again which enables you to understand the results of your actions.
It is expected that in practice rounds, the users will continuously make mistakes and learn from their mistakes.
Competition Rounds:
When the actual competition rounds kick in you will have one opportunity to freeze all your decisions and once the round is processed, you will have an understanding of how well you did. The key to succeed in the competition round is to have a thorough practice through the practice rounds which are provided by the platform.
Tutorials, Quizzes, and Rehearsals:
The Capsim Business Simulation also gives you an opportunity to understand what the program is all about by using their tutorials, quizzes on TQM and HR which apprises you on what these functions are and how they can be used to improve your profitability and your performance at the game, and rehearsals that guides you through the portal.
The tutorials guide you about the number of segments present in the industry, how to compute the annual demands for upcoming year, computing the ideal spots for each segment by using the perceptual maps, and enabling you understand the key parameters for improving profitability.
For more such valuable information, contact us at www.capsimutor.com