Table of Contents
1.0 Introduction ∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙ 1
2.0 The Group Selection ∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙ 1
3.0 SimVenture Simulation ∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙ 2
4.0 Experience with SimVenture Simulation ∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙ 2
5.1 First Simulation ∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙∙ 2
5.2 Second Simulation ...view middle of the document...
There are many concerns and risk when starting a new firm.
This paper will describe the process of running the SimVenture business simulation by a group of future entrepreneurs. It will also discuss the experience and lesson learnt with the simulation, individual growth points as well as group dynamic reflection.
2.0 The Group Selection
My group was teamed up by 4 ambitious entrepreneurs, there are few similarity among us which tied us together in the WOW group. We taken the Entrepreneurship and Creativity module last semester and go through the simplified version of Herrmann Brain Dominance Instrument (HBDI). The four sided model of thinking styles are metaphorically attributed to four regions of the brain and characterized as A-Logical, B-Organized, C-Interpersonal and D-Imaginative. I am the only one in the group with A-logical thinking quadrant while the other three of my team mates are D-Imaginative thinking quadrant.
Source: Adapted from Innowiz Project, 2008.
Figure 1: The Hermann Whole Brain Model Diagram
The HBDI teaches us how to communicate with each other effectively by understanding their thinking style. It is important to understand his or her thinking style preferences as it will help to improved teamwork, leadership, customer relationships, creativity, problem solving and other aspects of personal and interpersonal development (Hermann International, 2012).
Each of us are equip with different industry experience. Our group leader Mr. Chris is a civil engineer, he has more than 10 years experience in structural engineering design, construction project management and currently involve in supply chain management. Our team mate Mr. Gan was from accounting and finance background, he has more than 10 years experience working in finance industry. Another team mates Ms. Zoe are with biotechnology and health background, she has more than 5 year experience as an academic and clinical researcher. She is good in marketing activities and she has many year experiences in communicate and liaise with customers due to her job function. Me myself is a mechanical engineer, I have more than 4 years experience in supplier quality and currently working as a sales engineer. I am responsible for the production and supplier selection during the SimVenture Simulations as I have experience in manufacturing industry.
3.0 SimVenture Simulation
SimVenture is a business simulation game which let the players to run a virtual company and learn about the business world and entrepreneurship. It provides a good real life experiences for future entrepreneurs to understand the business world where business owner are responsible to make decisions including production, marketing, finance and human resources.
We as a team will run the SimVenture Simulation together for 3 years. Our strategy is to survive the business during 1st year, maintain the business stability in 2nd...