In the first part of the course, a block 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 lecturers individually. So confidentality 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.
Exam: March 20, 2019
Final Presentation: June 26, 2019
Students participating at the Vienna Innovation Program (May 15, 2019) can get in touch with the lecturers in order to arrange an alternative date.