This is a bundle of 9 microsimulations covering fundamentals of entrepreneurship such as strategic planning, product design, pricing, production scheduling, internet marketing, accounting, and profitability analysis.

 Fundamentals of Product Design 

This exercise builds on the concepts covered in the Fundamentals of Product Design microsimulation. You will explore the most common market response functions. You will discover how to identify market response functions for specific product features. In the final challenge, You will put this new knowledge into practice and design a backpack that meets the needs of a specific customer segment.

Fundamentals of Production Scheduling 

This exercise introduces the fundamental concepts of production scheduling. You will learn about fixed capacity, operating capacity, and inventory. Also, you will learn how to work with these production parameters to ensure their production facility can produce enough units to satisfy the demand, while avoiding stock outs and excess inventory. You will discover how production parameters affect a business' bottom line.

Profitability 

In this exercise, you will learn about profitability analysis. you will delve into the concepts of activity based costing and cost objects. Also, you will learn to link revenues and costs to cost objects in order to determine their profitability, and you will evaluate the profitability of products and regions. You will then use this newly acquired knowledge to help a business optimize its spending in marketing, sales, and HR with the goal to increase the bottom line.

Fundamentals of Accounting

In this exercise, you will learn about the fundamental principles of accounting. You will discover how accounting helps keep records of a business' property and transactions and keep track of profits. Also, you will learn about the basic accounting equation, accounting transactions, and double-entry accounting. To put these principles into practice, you will conduct a simple accounting audit to help the owner of a small business discover the cause of certain discrepancies in the firm's accounting books.

Fundamentals of Online Marketing

In this exercise, you learn about the fundamental principles of internet marketing. You will start with basic concepts such as search engines, search terms, and search results. Then you will learn about search engine optimization as a way to increase the number of visitors to a website. Also, you will learn how to turn website visitors into sales leads. Over the course of the exercise, you will learn about search engine rankings, web analytics, bounce rates, and the web sales funnel. To put this new knowledge into practice, you will help the owner of a small business increase the number of leads from a website.

Online Paid Advertising 

This exercise builds on the concepts covered in the Fundamentals of Online Marketing microsimulation. You will learn about paid Internet advertising and pay-per-click (PPC) campaigns. You will experiment with bids and budgets. Also, you will learn about impressions, actual cost-per-click (CPC), click-through-rate (CTR), and landing pages. Finally, you will use your new knowledge to help the owner of a small business increase sales and profit by improving the business online ad campaigns.

Fundamentals of Strategic Planning

This exercise helps you learn about the fundamentals of strategic planning. You will explore the concept of strategy and the building blocks of a strategic plan. Also, you will become familiar with strategic analysis, business opportunity analysis, strategic objectives, strategic thrusts, and tactics. Before you are done, you will test your new skills by developing a simple business strategy for a start-up firm.

Fundamentals of Pricing

In this exercise, you will learn about fundamental pricing concepts. You will find out how price affect profits. Also, you will explore the relationships between price, demand, and costs. You will learn about pricing surveys, demand curve and economy of scale. To put this new knowledge in practice, you will step into the shoes of an owner of a small coffee roasting business and tackle the task of setting a price for a new product.

Price Elasticity in Practice