Revas Business Simulations

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CertifiedEducation quality

10/2019

Revas sp. z.o.o

Business & entrepreneurship

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In Revas Business Simulation Game the students are making decisions on running a small business.

Revas Simulations helps (young) people experience and understand business. The game can be used in business education classes to run courses in a practical, engaging and fun way in more than 10 industries. Simulation participants, divided into teams, run virtual companies and make realistic business decisions similar to decisions made daily by real managers. Teams analyze market information to make strategic and operational business decisions. The teams can compare their results and improve their skills on each round.

The simulation is a flexible tool that can be used in various education levels. In higher education, it can be used in courses on business, economics, operational management, financial accounting or business for 'non-business students' courses. It is also fit for secondary schools - courses on management, accounting, entrepreneurship, economics, marketing, and key business competence workshops. In corporate training it can be included to business – managerial skills training or ’experience business’ workshops.

Age groups

High School

Tertiary Education

Professional education

Languages

English

German

Russian

polish

Platform

Browser-based

Registration

Required

Offline play

Internet required

Pictures

Videos

The players need to use the market data in the system to make business decisions and predict outcomes.

On each round, the players can see the results of their decisions and optimize the business they are running.

The simulation includes key business areas such as HR, resourcing, marketing and customer needs.

The simulation can be run using various different industry examples.

Pedagogy

Educational Quality

Learning Goals

The pedagogical analysis covers how the product supports learning of the identified skills. The student’s role is assessed by four contrary pair parameters, which are selected to cover the most essential aspects on the use of the product.

Passive

Active

In Revas Simulation the students are making decisions on running their own company. Each round requires completing several steps before finishing, which makes it impossible to pass through the content with no engagement. In order to progress and make smart decisions the learners are required to acquire and use new information. The new information is delivered on the simulation, but also by the teacher - the simulation is meant to be controlled by the teacher.

Rehearse

Construct

Revas Simulation requires utilizing learned content in open-ended problem-solving space. The game consists of several rounds, so it is possible to improve your predictions on each round. The pace of introducing new concepts is good. Each team can utilize individual tactics to solve the challenge and then compare, which of the tactics proved to be successful. The competition between teams and the discussion arising from the results is especially valuable.

Linear

Non-linear/Creative

The simulation follows linear, predetermined user progression led by the teacher, although during each round the teams can make choices freely. On each round the users will gain more possibilities and knowledge. The learning progress is directly comparable between teams since a good score directly reflects the understanding of content and attention to the choices - The learner must actively analyze and use the knowledge they gain during the game.

Individual

Collaborative

The game is instructed to be played in small teams with teams competing against other teams. Each team can act and progress autonomously, and the results are compared after each round to create competition. The solution encourages teamwork and collaborative analytical thinking and problem-solving, and in many cases working in teams makes the usage much easier, since each team member can take care of one area to manage (eg. HR, supplies and so on).

The following are the high educational quality aspects in this product.

The solution is a motivating hands-on introduction to entrepreneurship and running a business. It teaches a wide variety of core business functions in a very activating way.

Success in the simulation requires hard work, collaboration and decision making, which makes learning very effective.

The teacher can flexibly explain several key concepts about business using the simulation and also broaden the topics to cover more where they see fit.

The supported learning goals are identified by matching the product with several relevant curricula descriptions on this subject area. The soft skills are definitions of learning goals most relevant for the 21st century. They are formed by taking a reference from different definitions of 21st century skills and Finnish curriculum.

Subject based learning goals

The student understands the role of businesses in combining human, physical and financial resources to create goods and services

The student understands the role of entrepreneurship (and entrepreneur) and intrapreneurship (and intrapreneur) in overall business activity

The student understands the main business functions and their roles: human resources, finance and accounts, marketig and operations

The student understands the reasons for starting up a business or an enterprise

The student understands the common steps in the process of starting up a business or an enterprise

The student understands the problems that a new business or enterprise may face

The need for organizations to change objectives and innovate in response to changes in internal and external environments

Role of finance for businesses: capital expenditure and revenue expenditure

Short, medium and long-term finance

The following types of cost, using examples: fixed, variable, semi-variable, direct, indirect/overhead

Total revenue and revenue streams, using examples

The purpose of accounts to different stakeholders

The difference between profit and cash flow

The following strategies for dealing with cash flow problems: reducing cash outflow, improving cash inflows, looking for additional finance

The key functions of management

Human resource planning (workforce planning)

Market share

How marketing strategies evolve as a response to changes in customer preferences

Operations management in organizations producing goods and/or services

define price elasticity of demand and supply and perform simple calculations

Marketing and its relationship with other business functions

demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply

Cash flow forecasts

Variances

describe the concept of market failure and explain the reasons for its occurrence

Soft skills learning goals

Practicing to work with others

Learning to listen other people’s opinions

Learning decision-making, influencing and accountability

Learning to plan and organize work processes

Practicing decision making

Encouraging to build new information and visions

Practicing to notice causal connections

Learning to build information on top of previously learned

Practicing to notice links between subjects learned

Using technology resources for problem solving

Using technology as a part of explorative and creative process

Using technology for interaction and collaboration

Practicing to use information independently and interactively

Developing problem solving skills

Practicing to look things from different perspectives

Practicing strategic thinking

Practicing persistent working

Learning to find the joy of learning and new challenges

Learning to notice causal connections

Encouraging positive attitude towards working life

Connecting subjects learned at school to skills needed at working life

Realizing the connection between subjects learned in free time and their impact to skills needed at worklife

Understanding and interpreting of matrices and diagrams

Learning consumer knowledge and smart economics

Practicing to take responsibility of one's own learning

Practicing to argument clearly own opinions and reasonings

Revas Business Simulations