In the first part of the course, a bloc of introduction lectures will prepare the students with theoretical background information for the business planning simulation. A small exam will be held about the covered content.

After this introduction, the students have to combine their knowledge of various economic fields and compete in a realistic business simulation. Depending on the attendance, groups of four to five students will take control of a company. The companies start at the same initial position. Therefore, only the combination of the right strategy and accurate operational business management creates competitive advantages.

The companies have to make decisions in various departments (e.g.: production, r&d, finance) on a weekly basis. The decisions will be forwarded to the lecturers via mail. Then the simulation will be performed and the teams will be notified about the consequences of their decisions. In some cases, speed rounds will be performed, during which the groups have to make their decisions within a limited time period.

During each team meeting, the groups will discuss their strategy and company performance with the lectures individually. So confidentially is granted.

The students will also have the possibility to review their team members, so that free-riding can be avoided.

After the test phase, the students will have to present their business strategy for the simulation in a midterm presentation in front of the supervisory board, which will be represented by the lecturers.

At the end of the term the students have to present their strategic and operational decisions in front of the supervisory board. Members of the supervisory board will be external business managers with a high reputation.

More detailed information will be provided during the introductory session.

After completing this course students will have the ability to:

• Deal with theoretical frameworks of various economic fields
  
• develop a strategic business plan
  
• cope with ambiguity
  
• structure complex and ill-defined problems
• have the ability to evaluate the market environment and react in a real business situation
• justify their business decisions in front of a experienced jury

Apart from that, completing this course will contribute to students ability to:

• efficiently work and communicate in a team
• improve their oral and written communication and presentation skills
• learn to give and receive constructive feedback

The final grade of the course will depend on:

• 20% Exam
  
• 50% Group performance, peer reviews and assignments
  
• 30% Final presentation, interim presentation and annual report
  

Students are strongly advised to complete the course on "Managing Business from an Entrepreneurial Perspective" and "Managing Business from a Financial Perspective" successfully before registering for this course.

They will be provided with a compendium of articles, case materials and slides during the introduction lectures.

Please note:

Additional to the dates listed above, attendance on Tuesday June 18 from 1:00 p.m. - 5:00 p.m. is strictly mandatory (date of the final presentation).

An excursion will take place on Friday April 26 from 12 to 4 pm. This excursion is part of a graded assignment.

The exam will be held on Tuesday April 09, attendance is strictly mandatory.