The Simulation Game : Overview
ENTREPRENEURS’ DAYS: SAVE TIME; LEARNING OUTCOMES BASED; NO SPECIAL EQUIPMENT NEEDED & FUN!!
Introduce your learners to the dynamic world of finance, entrepreneurship, business and micro economics by running a “Banango Traders” ENTREPRENEURS’ DAY at your school.
Learners will participate in a business simulation game that will be facilitated by a Johannesburg School of Finance presenter during the course of a school day at the school premises.
The group is divided into teams that form their own businesses and compete against each other to gain the most profit. In each round of the simulation game the teams must make important pricing, marketing and purchasing decisions. After each round decisions are fed into a computer programme that has been designed to recreate a “real life” market environment and produces instant results. Based on their results teams must make adjustments to their strategies for the next round. The winning team will be the one that can out-strategise the competition over the four rounds played.
The simulation was originally designed for Gr9s only, but due to the popularity of the simulation, Banango Traders has now been customized to meet the needs and requirements of the senior phase (Grade 7-9), as well as FET learners (Gr10-12). The assessment tasks that are provided with the simulation have been designed in terms of difficulty and suitability to meet the respective departmental need of these different grades.
These ENTREPRENEURS’ DAYS are remarkably competitive and this urges participants to come to grips with the financial mechanics of business more rapidly. It is a team orientated event and has all the benefits associated with group work.
This format of the game is also very time efficient and is an ideal way to introduce learners to the dynamics of business in general and to get them excited for subjects like Accountancy, Business Studies, Mathematical Literacy and EMS.