Concept

The leading thread in the program is the Enterprising Simulation Thesis (EST), a simulation game in which groups of students manage a company in a virtual environment. All important aspects of enterprising are covered, for example cost accounting, investment analysis, marketing management, human resources management, inventory management, intercultural management, communication etc. Moreover, as part of the EST, you also carry out a Marketing Promotion Project in which you conceive, design, and launch a new product in a virtual manner. Each group is assigned a product and is part of a company marketing team.

All theoretical courses are given in function of the EST. As such, you have the opportunity to put the knowledge gathered immediately into practice, and are able to experience its usefulness.

In Module 1, students are ‘informed’ about enterprising experiences and enterprising by means of case studies, company visits, and testimonies. They discuss success stories as well as failures and become familiar with the different fields of expertise. In the second semester, they also get an impression of the nature of the enterprise simulation.

Objectives:

• to become critical and ask intelligent questions
• to learn about the pitfalls and problems that an enterprising manager may encounter

Module 2 and Module 3 are closely linked to each other. In the former, students deal with the theory. While in the first semester it is more general; is the theory becomes more specific in the second semester, directly supporting the Enterprising Simulation Thesis (Module 4).
Theory is supported by exercises and practical cases in Module 3. The exercises are directly applicable to the Enterprising Simulation Thesis. In the Human Resources Management course, for example, the process of applying for a job and personnel-selection is elaborated upon. Students have to apply for a certain job within a company. Based on their application, they are selected and the EST-teams are formed. Each team gets a coach from a real enterprise.

(Some) objectives

• to learn how to use methods and concepts that can be applied to manage and optimize an enterprise’s processes (financial management, marketing management, HR management…)
• to gain insight into the operating principles of manufacturing systems in general (manufacturing management, enterprising computer and communication competences…)
• to learn how to use operations research techniques for management purposes

Module 4 is the Enterprising Simulation itself. A number of teams (enterprises) form a virtual world, in which they compete with each other. The teams have to make all kinds of decisions concerning their enterprise. The simulation leaders enter these decisions into the computer and the results are returned to the teams. As a part of the Marketing Promotion Project, the teams develop, design, and launch a new product.

Objectives
The aim of this module is to learn to put into practice the methods, concepts, and techniques that students acquired during the courses. The following subjects are elaborated upon:

• development of a (business) plan based on strategy and tactics
• investigation of the relation with the market and the competitors
• internal orientation towards the company’s objectives
• social- and group dynamic processes within a team
• business economic aspects
• leadership and motivation
• insight in inventory and cash flows
• cause/consequences of long term decisions
• insight in causes and consequences of the business results
• development and application of management support systems

Module 5 is a reflection on the previous modules. The students make a profound analysis of the Enterprising Simulation and make their own case study, which they present to their fellow students and the professors. Well-directed assessments support the module, for example:

• drafting a capacity overview of the available machines
• creating the needed balance sheets and cashbooks
• forecasting the financial results of the next quarter
• analyzing the company based on some key-performance indicators
• making a sales prognosis for the next year
• calculating the production cost per product
• making a long-term budget for the next three years
• describing the evolution of tasks in your company
• processing data towards information in order to make decisions
• making a SWOT analysis of the company

Objectives
Each company has to make a report about the chosen strategy and the results accomplished. This report is presented and defended in public.