It’s such a powerful and engaging tool! Marina said.
Startup Sim (an updated version of Intopia) is a management simulation focused on entrepreneurship and cooperation. Teams of participants define, set up, and manage a small business from business planning to maturity through the startup phase.
Teams do not receive an ongoing company; rather, they are given a starting capital to set up their business in a pre-defined value chain with dozens of possibilities. As time goes by, it is possible to redefine the business model and change the business to cope with the shifts in the market and competitive environment.
Operating in the high-tech industry, participants create a universe of suppliers, customers, and end-users; to succeed, teams must establish partnerships (supplier/customer, joint R&D, resource allocations, etc.) without which they cannot prosper.
Marina Vivian, Jonathan Holmgren, and Andres Bonilla, current MBA students, shared their thoughts about this busy but stimulating week.
What do you think about this business simulation?
The business simulation is action-packed and relentless!
It enables students to put into practice most of the concepts seen during the MBA: from strategic thinking to decision making, problem-solving, financial and market analysis, operations as well as personal skills such as leadership, negotiation, together with the ability to co-operate with the other team members to reach the goal.
It has a steep learning curve at the beginning, but it quickly becomes second nature.
What did you learn?
The time pressure of the business simulation means that you are initially flooded with a series of decisions that will impact you both in the short and long run. So it’s key that you take a moment to lay your foundation and plan carefully.
That way, you can take quicker and more informed decisions down the line rather than simply reacting.
It also forces you to let go of a need to have all the information at once, as sometimes you do not but must take an educated guess and hope you can use the information you DO have to make the right decision.
Is it important in an MBA program?
This type of business simulation is vital to an MBA class. It allows you to implement various skillsets that you have compiled throughout the entire year, all in a semi-realistic business environment that allows for a different type of learning than that of the classroom.
It requires quick thinking, learning, implementation, and planning, as well as excellent communication both within your team and between teams. It’s a great microcosm of the world we enter as soon as we finish our MBAs and allows us to fail quickly in a safe environment where we can do a lot of learning from our own mistakes, shortcomings, and weaknesses – it’s full of teachable moments!
Also, it forces you as a student to think outside of the box.
It’s such a powerful and engaging tool! Marina said.
Startup Sim (an updated version of Intopia) is a management simulation focused on entrepreneurship and cooperation. Teams of participants define, set up, and manage a small business from business planning to maturity through the startup phase.
Teams do not receive an ongoing company; rather, they are given a starting capital to set up their business in a pre-defined value chain with dozens of possibilities. As time goes by, it is possible to redefine the business model and change the business to cope with the shifts in the market and competitive environment.
Operating in the high-tech industry, participants create a universe of suppliers, customers, and end-users; to succeed, teams must establish partnerships (supplier/customer, joint R&D, resource allocations, etc.) without which they cannot prosper.
Marina Vivian, Jonathan Holmgren, and Andres Bonilla, current MBA students, shared their thoughts about this busy but stimulating week.
What do you think about this business simulation?
The business simulation is action-packed and relentless!
It enables students to put into practice most of the concepts seen during the MBA: from strategic thinking to decision making, problem-solving, financial and market analysis, operations as well as personal skills such as leadership, negotiation, together with the ability to co-operate with the other team members to reach the goal.
It has a steep learning curve at the beginning, but it quickly becomes second nature.
What did you learn?
The time pressure of the business simulation means that you are initially flooded with a series of decisions that will impact you both in the short and long run. So it’s key that you take a moment to lay your foundation and plan carefully.
That way, you can take quicker and more informed decisions down the line rather than simply reacting.
It also forces you to let go of a need to have all the information at once, as sometimes you do not but must take an educated guess and hope you can use the information you DO have to make the right decision.
Is it important in an MBA program?
This type of business simulation is vital to an MBA class. It allows you to implement various skillsets that you have compiled throughout the entire year, all in a semi-realistic business environment that allows for a different type of learning than that of the classroom.
It requires quick thinking, learning, implementation, and planning, as well as excellent communication both within your team and between teams. It’s a great microcosm of the world we enter as soon as we finish our MBAs and allows us to fail quickly in a safe environment where we can do a lot of learning from our own mistakes, shortcomings, and weaknesses – it’s full of teachable moments!
Also, it forces you as a student to think outside of the box.
If you would like more information about our MBA Program, please look at our website.
Feel free to also contact the Admissions Team directly at admissions@monaco.edu