Vb hotel mogul project answer12/11/2023 They then open a trampoline park in a specific location and try to set prices to achieve a profit goal. With positive trends for a second trampoline park in the city, students look at the competitor’s prices and offerings. They then resurvey their population to spot trends in demographics and income. Students run a survey to determine the current demographics of their city, then run the simulation in a hyper-speed mode to watch their city grow and track changes in the city’s demographics. Students hope to open a trampoline park in their city. In this simulation exercise, students dig deeper into evaluating an opportunity by employing market research techniques. Student progress and grades may be tracked from the Instructor page. Students click Run SIM and follow the lesson instructions. Students take the reading quiz (optional). Students complete the reading assignment (optional). Assess competition in evaluating an opportunity.Students meet the goal when their business generates a target weekly profit. They learn how to find its income statement and run time forward to observe operations. Students form the business which is auto-run for them. As a final check, they research the local labor supply in their city to make sure they can hire employees. From this they identify an opportunity and prepare to start a business. For each, they note the number and location of competitors as well as their hours, breadth of product offerings and customer ratings. Next, they do a Google maps-like search on businesses of the types they are considering. They then do a survey to determine where most potential customers live. Students browse over the city and see many competitors in different locations. They are considering opening a new business and have 5 different businesses in mind. In this simulation exercise, students find themselves in an expansive city. back to top Lesson: Spotting the Opportunity To their account at vb. and go through the Tutorial. Prior to beginning work with ENTREPRENEURSHIP, students should sign in To access a series of videos to help you get your classroom up and running with Virtual Business. Reading assignments (3.3 hours), reading quizzes (1.7 hours) and math quizzes (5 hours).įor instructions on how to configure your course, click ![]() You can configure your course to include or exclude (simulation exercises only) to 36 hours (simulation exercises, reading assignments The instructional time for ENTREPRENEURSHIP Lesson: Mega Mogul Project - Unique City Per Class But having each student’s scores at her fingertips makes her job that much easier.Lesson: Business Plan Project - Unique City Per Class For McBride, performance inside the sim makes up only a portion of her final grade. Students take all quizzes and sims online, and their scores are automatically entered into an online Learning Management System. Makes Grading Easier and Faster: The Knowledge Matters platform enables teachers to monitor student grades and progress. This connection assures that the simulation mirrors real world decisions and that the skills students are developing will be relevant them in the workplace. Additionally, Marriott Corporation gave Knowledge Matters direct access to experts in all phases of hotel management. Marriott Foundation helped to underwrite the development of the simulation. ![]() Industry-Supported: McBride appreciates that the hotel industry is helping schools bring the simulations into the classroom. "The simulation gives students a chance to get their feet wet - to see if hotel management is something they may want to do." ![]() For students unable to do a co-op program, the sims give them a glimpse of what it takes to actually run a business and juggle all of the many aspects of management. Mimics a Co-Op Experience: McBride has many students who participate in actual co-op programs, and finds that the simulations help them begin to think like a business owner or manager. ![]() "It is more than a video game it uses technology to show coursework through a different lens." At the same time, the carefully constructed sims give students a solid foundation in the real world of business. Engaging Coursework: Knowledge Matters simulations return young students to their comfort zone - that of direct interaction and immediate feedback.
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