What’s unique about this course

The course consists of three components that are supported by a solid theoretical foundation:

• Virtual global business simulation
• Stepwise development of a business plan
• Solution of real-life company cases

The course offers in-classroom and online sessions combining different learning approaches. Foundations in theory, practical relevance, as well as hands-on experiences will be provided through the following cornerstones of this course. Tailored assignments link the different formats. One example is the business plan assignment that builds upon of the performance of students groups in the business simulation game.

Knowledge is key: Business planning theory

The first (self-study) part of the course sets the theoretical background for the subsequent business simulation. This theoretical content consists of the business simulation readings, textbook literature on general business administration, as well as business planning theory and approaches. The students are required – after studying the theory - to submit an individual strategic plan.

Apply your knowledge: The business plan

Based on the theory, students will create and (as a further step) adapt a business plan of their virtual company (used in the business simulation game). Depending on the performance during the business simulation, student groups have to adapt their business plan to the new market conditions. Hence, the creation and development of their virtual company forms the backbone of their business plan assignment. This group assignment is divided into three parts: the strategy video (group presenting the strategy in a video), business plan creation and business plan adaptation. A range of online materials will be available as best practice examples for this task.

Compete and show your skills: The business simulation

Students have to combine their knowledge of various economic fields and compete in a realistic business simulation. Through Cesim’s Global Challenge, participants manage a sustainability-focused global transportation 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 teams have to make decisions in various business fields or functional areas on a regular basis. During each meeting, the groups will discuss their strategy and company performance with the lecturers individually.

Learn from practice: Company cases & guest speakers

Top managers and company representatives provide real-life company cases for which the student groups find solutions. These company cases can be either strategy-based or related to a specific management discipline. Companies from various industries will take part.

Confirmed partners for 2023:

• United Nations - World Food Programme
• SPAR Österreichische Warenhandels-AG
• Mercedes-Benz Österreich GmbH

Impress decision makers: Jury presentation

Finally, students have to present their decisions in front of a supervisory board. Members of the supervisory board will be external business partners with a high reputation. The final supervisory board will be announced in the first lecture.

Further details will be provided during the introductory session.

BYOD - Students are required to bring their own laptop to class.

There are NO additional course costs for students (costs for CESIM licenses are covered).

After completing this course, students will have the ability to:

• deal with theoretical frameworks of various business 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 an experienced jury

Apart from that, completing this course will contribute to student's ability to:

• efficiently work and communicate in a group
• improve their oral and written communication and presentation skills
• learn to give and receive constructive feedback
• manage complexity by completing different parallel tasks during the course

Participants should be present at all modules. Further information on course participation will be explained in the intro session.

The course will combine various learning methods to deliver the different topics. Including readings, open class discussions, online meetings, teamwork, individual team coaching and presentations in front of practitioners.

Individual Performance (24%):

• Assignment results:
  • 15% - Individual strategic plan
• Individual participation:
  • 5% - Peer Grading
  • 4% - Activity Report

Team Performance (76%):

• Company Case Performance:
  • 16% - Company Case A (presentation + written paper)
  • 16% - Company Case B (presentation + written paper)
• Business Plan Performance:
  • 10% - Initial Business Plan
  • 6% - Adapted Business Plan
• Business Simulation Performance:
  • 16% - Presentation + jury report
  • 8% - Competitive result
  • 4% - Strategy video

Attached, you will find the grading scale:

Students need to complete all courses of the 1st semester of the SIMC Program.

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The business simulation bases on an online cloud system, so no pre-installation is necessary.

Further details will be published on learn@WU after registration.