bizcafebusiness essentials simulationhttps :// www B u s i n e s s F i n a n c e

bizcafebusiness essentials simulationhttps :// www B u s i n e s s F i n a n c e

BizCafe

Business Essentials Simulation

https:// Business Essentials simulation, BizCafe, provides students the opportunity to experience the importance of the fundamentals of business by running a small, college-town coffee shop. At startup, teams choose equipment, furniture, and a name consistent with the image they want to project. As the Business Essentials simulation progresses, students encounter all the facets of running a business at a basic level. They gain experience with financial statements, the difference between cash and accrual accounting, handling staffing issues, operations management for a small service business, marketing and promotion, and the importance of customer satisfaction. Growing sales, maximizing profit and managing the daily operations of a café will help them understand the ins and outs of operating a customer service oriented business.

Our Business Essentials simulation is a great way to learn about running a business. It is designed to achieve the learning outcomes.

Instructions to get started:

You will receive a welcome email from Interpretive Simulation to enroll in the BizCafe Simulation game in the 2nd week of class.

Follow all the instructions, read the student/participant manual first of all and start working on the game (there is no practice round)

Finish the 10 rounds by Week 6.

1) Prepare a written report based on the following points and format requirements.

Format: APA format (Cover Page, Abstract, Introduction, Main body (with the content of the points below), Conclusions. 3-4 pages.

Points to be considered (choose and write about your results/experiences with topics below)

2.1. Highlights of your plan including your objectives and how you chose to achieve those objectives.

2.2. Your café logo and advertisement/storefront (if applicable).

2.3. The number of servers employed and wages.

2.4. Your financial performance, including a discussion of important items on your income statement and balance sheet.

2.5. Key success factors in BizCafe.

2.6. Important “take-aways” from the simulation experience.

3. Submit the report by Sunday December 6! Remember this is worth 25% of your final grade.

Due 12/06