Participation in the business simulation game TOPSIM – easyStartup! as part of the Business Start-up elective.
The seminar provided practical insights into the process of starting a business – from the initial business idea and drafting a detailed business plan to market entry and the operational management of a virtual company.
The simulation involved founding a company for manufacturing surfboards. Strategic decisions had to be made in various company areas:
Key Aspects of the Simulation:
- Business Plan: Development of a coherent concept including marketing strategy, investment planning, and financing.
- Marketing & Sales: Pricing, advertising planning (print vs. sales promotion), and opening up sales channels.
- Production & HR: Capacity planning of manufacturing plants and personnel management.
- Finance: Analysis of planned P&L, planned balance sheet, and cash flow calculations to ensure liquidity.
The simulation honed the understanding of economic interrelationships and the complexity of entrepreneurial decisions in a competitive environment.