The Innovation and Entrepreneurship Unit of the National Technical University of Athens organized the 4th Institutional Business Game Competition on Tuesday, 14/7/2015, Time: 16:00-20:00, at the Computer Center 2 (PC-Lab 2, Room Y3) of the School of Chemical Engineering.

The Institutional Business Game Competitions are addressed to all students (undergraduate and postgraduate) of the National Technical University of Athens.

Information about the Business Game

The Business Game or Business Management Game (Business Game) is an interactive computer simulation game in which competing businesses participate. The purpose of this game is to apply simple economic knowledge “in practice” and familiarize students with business management in a competitive environment. In practice, students are divided into groups and manage virtual businesses that operate in a specific market. In this way, each management team is called upon to make important business decisions based on the data available and the judgment of its members. It also sees how these decisions are translated into corresponding financial figures, just as it happens in the real world of business.

The market is dynamic and the size and market shares of the players are shaped according to the decisions of the teams themselves. The teams are called upon to make a series of decisions related to the operation of their businesses, such as for example production, new investments, product price, advertising expenditure, research and development expenditure, etc., in order to meet the goals they have set (profit maximization, market share increase, etc.).

The game is played iteratively in seven (7) consecutive cycles so that there is the possibility of readjusting decisions from period to period. Each cycle (repetition) of the game represents a period and depending on the satisfaction of the objectives, each team accumulates a score.

For the implementation of this specific business game, a software program in a Microsoft Excel environment is used which has been developed at NTUA and was funded by the European Union.

See here a presentation of the logic and software of the Business Game.